On Oct 26, 3:26*pm, dpb wrote:
On 10/26/2011 1:04 PM, DerbyDad03 wrote:
...

2) call the fund manager, where you have your funds

I doubt you can talk to the "fund manager" - the person or persons
that make the investment decisions within the portfolio. Even if you
could, he/she/they are not going to discuss the tax implications of
withdrawing money from an IRA.

Perhaps you meant to say:

2) call the custodian of your IRA

And they can tell them the process by which they can withdraw funds and
whether they are qualified or not, but they won't provide individual
investor tax advice, either--in fact, they will say the same
thing--"talk to your own advisor for tax advice".
...

Realistically they can't say anything else even if they wanted to; they
don't know enough of any client's overall situation to be able to make a
considered response

Very often, the "custodian of the IRA" and the "advisor" are pretty
much (or can be) the same entity.

Let's say the custodian of my IRA is a wirehouse known as BFIF (Big
Friggin' Investment Firm).

Let's say the Financial Advisor works for BFFF. In most cases, both
the name of the firm (the Custodian) and the name of the Advisor is
going to be on the client's statement. If the client calls the
Custodian and gives them the account number, they should be able to
connect them with the Financial Advisor responsible for the account.
That Financial Advisor should already know about the client's overall
situation or should at least be able to ask the correct questions in
order to offer advice, assuming he is following the FINRA Know Your
Client rules.

Now, granted, there are many cases where the client has opened an IRA
directly with a Mutual Fund company (your Vanguards, Fidelities, et
al) and may have opted not to pay for "advice" and may indeed not have
anyone legally able to give him advice.

All that said, my response to the suggestion that he "call the fund
manager" still stands. There is *no* way the client is going get any
advice from the "fund manager" - the person or persons that make the
investment decisions within the portfolio.



just as none of us here can make any actual
recommendation; all can try to do is to point out considerations for OP
to keep in mind as goes forward. *The most reliable one of which is that
advice is generally worth at least as little as you pay, and often
significantly less. *

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