VIDEO: She Almost Lost $7,000 a Year for ‘Account Watching’ — The Truth About Hidden Fiduciary Conflicts

  • Retirement Funding
A 60-year-old nurse was almost convinced to move her $800,000 401(k) into an IRA with the same custodian, and it almost cost her nearly $7,000 a year in new advisory fees. All for what? “Someone watching her account.”

In this video, Daniel Dorval, CFP® and Leah Woodly, CFP®, unpack what really happened, why these rollovers are becoming more common, and what you should look out for before making a move with your retirement savings.

You’ll learn:

  • The difference between a fiduciary and a salesperson
  • How custodians profit from “advice” that isn’t really advice
  • What to know before rolling over your 401(k)
  • How to know if you’re actually getting value for the fees you pay

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This material is intended for educational purposes only. You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. Nothing in this material constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. Dorval & Chorne Financial Advisors is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.

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