401k bonanza getting underway

Lots of boomers will be retiring over the next 10 years, and that means lots of 401k money, and I do mean lots, will be rolled over into IRAs. Now, normally, we think of IRAs as fairly small accounts that frankly may not be worth it for top brokerages. But the 401k rollovers are going to be larger. So if you are a big brokerage, or a little one, you may want to get your strategy all lined up. You can bet the big boys, like Smith Barney and Fidelity, are thinking about it. Smith Barney notes that over the past year, it has experienced a 25 percent rise in demand for information on IRA rollovers. The trick for many, such as the big mutual fund companies, will focus on retention, while the big Wall Street wirehouses will have to think about getting people to transfer money. No small task.

For more:
- here's an AP update