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How do I prepare to present to the client their options and my recommendation for an IRA rollover?

The recommendation to the client should include not only the conclusion you reached, but also the comparisons between the various options you considered in making your recommendation.  The information presented should be clear, concise and to the point, explaining why your recommendation is in the client’s best interest.  A graphic presentation can help illustrate these issues. 

Your presentation should clearly explain the differences in both costs and services between the options, as well as their benefits and drawbacks.  It is advisable to explicitly identify the fees they are paying while the assets are in the plan and compare them to the fees they will be paying in an IRA, as well as the services they will receive in the IRA as compared to the plan.  After reviewing all of the aforementioned items and any other concerns of the client, a decision should be communicated regarding whether the rollover is in the best interests of the client.

Once a final decision is made by the client, there will be documentation required to open the account, verify the client’s understanding and acceptance of all terms and conditions, and record the client’s receipt of all necessary disclosures and notices.  You should remain with the client as the documentation is signed in order to answer any questions that come up.

 

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