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Need an authoritative answer. Can 401K assets be held in different brokerage accounts, that is, can I put $5K of a total $20K in a 401K account with Schwab and then place the other $15K in a 401K account at say Ameritrade? I currently have all assets in one account and would like to use a discount broker. Thanks
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Need an authoritative answer. Can 401K assets be held in different brokerage accounts,

If this 401(k) is for your current employment, it's doubtful. Only your plan administrator can tell you what your options are. If the 401(k) is from prior employment, you can roll it into a traditional IRA and thence split it up among as many traditional IRA accounts as you like.

Phil Marti
VITA Volunteer
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