Finding an IRA trustee
If you decide on a
rollover IRA,
you choose
the
brokerage firm,
mutual fund company, bank, credit union, or
insurance company that will be trustee, or
custodian,
of your account.
Chances are the company providing your retirement
savings plan offers rollover IRAs, as do most financial institutions.
Analyzing how you’ll use your account
is an important part of choosing a trustee. If you plan to trade
stocks and bonds, you need a brokerage account. If you want the
guarantee of lifetime income, you may choose a provider that offers
annuities. If you’re not sure, you can use this opportunity
to work with a financial adviser.
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