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<< Due to a job change I have a sizeable 401k and was refused when I attemped to invest thusly,45% to one investment firm, 30% to another and 25% to the third. I was told that it could not be done that way. Can anyone enlighten me to the error of my ways? >>

Without knowing who told you that, no. Were you trying to do this directly from the old plan? If so, perhaps that plan will only do a lump-sum distribution. (They can make a lot of their own rules, as long as they follow the tax rules.)

There should be nothing to stop you from doing a direct transfer into a traditional IRA and then doing trustee-trustee transfers from that IRA to whatever other IRA accounts you want. (You might rack up some fees along the way, but that's it.)

Phil Marti
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