With more than $350 billion in assets, affluent investors unhappy with their current employer-sponsored retirement plans have no misgivings about moving their funds elsewhere.
Cogent Research revealed that discovery in its "Investors in Action" report. The data showed that of the 25% of affluent Americans who have assets sitting in former employers' retirement plans, about half (42%) said they are likely to roll over the assets into an IRA sometime within the next year. That group has approximately $350 billion in assets ready to shift.
Cogent defines the affluent as those with $100,000 or more in investable assets, excluding real estate. The firm's report surveyed more than 4,000 investors.
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