Research shows 38% of employees seek the help of a financial advisor. Some 33% rely on the retirement plan provider and 32% ask family members or friends for advice.

The impact of advisors on the IRA rollover market is striking. Nearly two-thirds (63%) of those who use an advisor rolled their money into an IRA. By comparison, slightly more than one-third (36%) of those who did not use an advisor took the same action.

Employees who use an advisor also are more likely to select an income option, such as systematic withdrawals or an annuity purchase. They also are more likely to avoid options, such as withdrawals, that could have detrimental tax consequences.
 

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