Asset rollovers from retirement accounts to individual retirement accounts have increased 38%, to $489.3 billion, since 2004, after an 11% decline from 2000 to 2004, a report by Spectrem Group says.
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The number of individuals conducting IRA rollovers has increased 28%, to 7.4 million, from three years ago, the Chicago firm's report said. From 2000 to 2004, the number of individuals conducting rollovers fell 9%, to 5.8 million.
The report also found that 67% of individuals who rolled a balance over to a personal IRA did so with a professional adviser.
The report culled data from 784 completed surveys mailed in April and May. The data has a margin of error of plus or minus 3.9%.
