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Hello,

Several years ago, the small company I was with implemented a SEP plan through Waddell and Reed. Per the CFP's advice, my monthly contributions were spread across four mutual funds until I left the small company to join a large company where I now contribute to a 401(k).

I have not contributed any additional money to this SEP since leaving the small company and now at the very least, I would like to see all this money moved to a some kind of Index Fund. I'm checking but I don't believe that Waddell and Reed offers that option.

What I have now are some complete newbie questions (even though I have spent time off and on over the last few months reading the various retirement/investing boards here):

1) How do I go about moving my funds out of the Waddell and Reed managed mutual funds to my own brokerage account with an Index fund?

2) What are the tax implications, if any?

3) Can I even do this? Or am I forever committed to W&R?

If there's a link to a page/topic that has information along these lines, I'd be very happy to wander off in that direction. (I have already posted this to the fairly inactive SEP-IRA Speaker's Corner area).

Thanks much in advance for any help you can provide...

Cheers,
~Darci
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