A question I keep hearing is “how do I determine the fees associated with the 401(k) or other retirement plans that a client currently owns?” Good question and could be a difficult one to answer. Here are some suggestions:
- Ask the client to provide you with the Summary Plan Description for the plan. This should have the information that you require.
- Check out a website http://www.showmethefees.com. It looks like they will provide the information, but you may receive solicitations after entering information to obtain a response.
- RiXtrema’s tool IRAFiduciaryOptimizer is a paid software that could be of assistance.
If any of you try these, I would appreciate any feedback.