This is the first time I have looked at this board, and I did not find anything in the archives. My apologies if I missed something relevant. A good friend got laid off from a job at about the time the boss sent all of the employee 401(k) funds to be managed by a money manager who was a friend of his. My friend wanted to manage her money herself, perhaps by converting to an IRA, but he said she could not do that -- her funds had to go with all of the other funds to be managed by his friend the money manager. We were skeptical at the time and we remain skeptical, but we know next to nothing about this. We wonder if anybody knows if she can take control of her funds and move them to an IRA account with something like VG Index 500, under her control from then on, from a collection of load funds they were put into. We realize that she has already paid commissions through the loads and may have to pay more, but it is the concept we are asking about. What rules govern this sort of thing, and where do we find them? Thanks for any help.Jack
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analys