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Author: ShiningStar109 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75812  
Subject: Moving Sole Propietor 401K to another Brokerage Date: 4/7/2012 11:17 AM
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I am with Morgan Stanley Smith Barney and I want to move to another brokerage firm. I'm not sure which one yet. Does anyone know, or know how I can find out : What are the rules about switching a prototype Smith Barney, or Morgan Stanley Smith Barney, Sole Proprietor 401K plan to another brokerage firm?
I have a Sole Proprietor 401K Plan at Morgan Stanley Smith Barney. I was with Smith Barney when I opened it and they sent me their Template 401K Plan Adoption Agreement to use to create my 401K Plan. At that time I had an Attorney/Accountant Review it for me when I set it up to make sure I did everything correctly. It is currently set up as one 401K plan but with 2 accounts under it., a Simple 401K and a Roth 401K, both under the same 401K Adoption Agreement. Smith Barney created all of the original 401K documents for the Simple 401K and then notified me when I could also open the Roth 401K under the same 401K Plan Adoption Agreement and I chose to do that also.

Do I have to create a new 401K Adoption Agreement at the New Brokerage Firm?

Do all brokerage firms have their own 401K Adoption Agreement for me to create and move my 401K assets into?

Which are the better Brokerage Firms to help me do this? I want to make sure it is done correctly and the Brokerage Firm I move my 401K to has knowledgeable, reliable people to make sure everything is set up correctly. I also have other Brokerage Accounts I would be moving at the same time, but my biggest concern is what I need to do to move my Sole Proprietor 401K plan which was created using the Smith Barney Adoption Agreement.

Any recommendations on how to do this or how to find out how to do this and which would be a good Brokerage Firm to switch to would be greatly appreciated.

Thanks for any information on how to do this.
Shari
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