FINRA has issued an Investor Alert offering advice on IRA rollovers.  FINRA advises that a person considering an IRA rollover should understand the four transfer options (e.g. current employer or new employer 401(k), IRA or cash), understand all fees and expenses, and compare investment options and expenses.  FINRA also says to be wary of any claims that an IRA rollover is “free” or “no fee”   because “there will almost certainly be costs related to account administration, investment management or both.”  Also, FIRNA warns that any investment adviser has an inherent conflict of interest because it makes fees and that anybody considering a rollover should “engage in a thoughtful discussion with your financial or tax professional.”

OUR TAKE: The Investor Alert is yet another warning that FINRA intends to thoroughly investigate IRA rollover claims and advice.