Fidelity is the most likely firm to be chosen by investors looking for somewhere to roll their 401(k) assets to.
A report released Thursday by Spectrem surveyed nearly 1,000 investors who had recently made a rollover or had the opportunity to rollover assets, and found nearly one-third chose Fidelity as their IRA provider. Vanguard was a distant second at 11%.
In many cases, there was a significant gap between the number of investors who considered a firm, and the number who actually selected that firm as their IRA provider. While one-quarter of investors considered Charles Schwab, just 7% ultimately chose to roll their assets over. Similarly, Vanguard, which was selected as the IRA provider by 11% of investors, was initially considered by 24% of investors. Fifteen percent of investors considered JPMorgan Chase, but just 4% finally decided to roll their assets to that firm.
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