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IRA Rollovers Finding More Homes Online

Individual retirement account rollovers are taking up residency with online investment providers, according to Cogent Research.

By Michelle A. Samaad | Updated on June 14, 2009

Individual retirement account rollovers are taking up residency with online investment providers, according to Cogent Research.

One in three (32%) affluent and high-net worth investors have assets currently sitting in former employer retirement plans like 401(k), 403(b), and 457 plans, according to a new report on the rollover IRA and retirement income market from Cogent. Thirty-nine percent of those surveyed said they are likely to roll their assets into an IRA within the next 12 months. With an average account balance of nearly $200,000, this puts about $450 billion dollars of retirement assets potentially in play over the next 12 months, the firm noted.

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