Fidelity and Schwab Go the Way of the Roth IRA from Bank Investment Consultant
03/22/2010 0 comments
By Ruthie Ackerman
March 11, 2010
From Bank Investment Consultant
Whether should you convert to a Roth IRA? This is a complex decision. But a survey of almost 500 tax advisors done by Fidelity Investment has revealed the choices of many investors who are eligible for a Roth IRA conversion. Maybe we can consult the results of this survey. What is more, Fidelity Investment and Charles Schwab both offert Roth conversion tools to investors to help navigate the decision making process about Roth IRA conversion.
On Wednesday Fidelity Investments announced that a survey of almost 500 tax advisors revealed that 40% of investors working with tax advisors are eligible for a Roth IRA conversion now that income limits have been removed, and 35% are expected to complete a conversion by the end of this year.
Of that 35%, advisors report that 91% have already started or completed the process and 44% of the conversions are $50,000 or more.
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