Study: Most Retirees Handle Rollovers Themselves

Bain researchers surveyed 415 retirees and preretirees ages 55 to 70 with average annual incomes of $100,000 or more.

Even though 80% of the “mass affluent” near-retirees use a financial advisor, only 30% get help from their advisors with retirement plan rollover decisions, the Bain researchers report.

The researchers found that half of those who have rolled assets out of employer-based retirement plans also buy other financial products. That flow of assets could create about $19 billion to $38 billion in sales opportunities over the next 5 years, Bain estimates.