Broker Check

Rollovers & IRAs


Many have referred to these times as unprecedented, a time full of unknowns.  But whether caused by circumstances resulting from this recent health crisis or not, there aren’t many events in our working lives that can cause more stress or uncertainty than losing a job.

If you or someone you know is in this situation due to COVID-19 or in-transition for any other reason, you’ll likely have many questions, some more important than others:

  • What do I do next?
  • What resources do I have while I’m searching for my next job?
  • How about unemployment or healthcare?

Then likely lower on your list (though some of you might already be wondering) is What should I do with my 401(k)?

People leaving an employer or who have lost their jobs usually have four options with their retirement plan.  Your options are:

  1. Cash out the account balance. (Due to possible tax implications and penalties, this may be an option you’ll want to consider carefully).
  2. Leave the money in your former employer’s plan, if permitted.
  3. Roll the assets into your new (next) employer’s plan, if one is available and rollovers into that new plan are permitted.
  4. Rollover your old retirement plan into an IRA (Individual Retirement Account).


Each choice offers advantages and disadvantages and there are a few factors to consider when deciding.

Also, a new law was passed recently to help with the economic impact due to COVID-19 called The CARES Act (The Coronavirus Aid, Relief, and Economic Security Act).  You may have heard that the CARES Act allows for certain provisions that weren’t available previously, including waiving the 10% early withdrawal penalties on retirement plans if a distribution takes place before Age 59 ½, giving some account owners the needed relief and access to their funds and up to three years to replace what they took out.  As mentioned before, there are factors, along with eligibility requirements, to consider in order to benefit from these recent provisions.

If you are uncertain what action to take with your retirement accounts, please allow us to help youThat’s what we do.


We’ve found the best financial decisions are the ones that consider all available options.  We don’t like to rush things or approach it from a one-glove or one situation-fits-all-approach.  It might be that you’re looking for ways to better protect what you’ve worked really hard for to save, perhaps you’re within striking distance of retirement and losing a significant portion of your savings is not something you’d like to deal with right now.  Perhaps you have questions around other strategies such as Roth conversions and if now might be a good time to do so in light of the recent declines due to this pandemic. You may have this and many other questions swirling in your head.  We are here to help.

We believe being a trusted resource during difficult times, or any other time when plain old-fashioned help is needed, is our greatest value-add because we take care of our clients like family.

We believe in providing our clients with the right information and education with which to help them make the right decision(s).  For some, feeling empowered and being involved throughout the process is what they want or need, while others simply like to ‘outsource’ all the decision-making and guidance to us. 

Either way, we’ll take the time fully give you your options and approach it from your best interest, not ours.

It doesn’t matter if you're just getting started, playing catch up, approaching retirement or already there, what we found is that everyone's core needs are the same: it's around the major need for proper education, clarity and assurance, along with the access to the right solutions.

We do this through a Holistic Financial Plan. Although not a pre-requisite for a rollover, we highly encourage that you have a plan developed to fully see the impact of your rollover to your long-term financial picture.

Another (differentiating) aspect to how we help our clients is giving them access to Tactical Management, which is when there’s a third-party firm who monitors an account on a daily basis, and upon discretion, makes adjustments to the account in response to market conditions, putting a ‘defensive’ component to one’s strategy when it is warranted.  This can be particularly beneficial during periods when there is high volatility or uncertainty in the markets, such as in the 2008 Financial Crisis or most recently, during this pandemic that has impacted almost every facet of our lives.

Tactical Management is typically not made commonly available unless people have significant account balances. However, our firm has developed a technology platform that makes this available at practically all levels, especially where the help is most needed: those who are often overlooked. 

Others may opt for seeking guarantees or would prefer principal protection, or some combination. 

Regardless, there's not a one-glove-fits-all approach. Everyone's situation is different.  People's needs are different.  If this is foreign to you, you're not alone.  But help is available.

Going through our process is at no cost or obligation to you, and it will be an honor for us to be that trusted resource.

If you find yourself in alignment with our philosophy, values and approach and would like our help, please allow us to do that.