Not Sure

[tonymarq1]

What is the name of your state? NJ

I'm not sure if you can answer this, or if this forum supports a question on IRA's.

I currently have an IRA account in a financial services firm that my wife works in. I would like to transfer my IRA into another financial services business since the current service has very high fees when I try and self direct the activities.

Now, they are telling me that I must get my wife's office approval to do this. This is my individual account only. My wife approached her manager and they told her she could noy allow me to switch broker. They told her that I had to use their broker. What's wrong with this information?

How can any company dictate what I do with my retirement funds.

Any assistance would be appreciated.

 

[seniorjudge]

What is the name of your state? NJ

I'm not sure if you can answer this, or if this forum supports a question on IRA's.

I currently have an IRA account in a financial services firm that my wife works in. I would like to transfer my IRA into another financial services business since the current service has very high fees when I try and self direct the activities.

Now, they are telling me that I must get my wife's office approval to do this. This is my individual account only. My wife approached her manager and they told her she could noy allow me to switch broker. They told her that I had to use their broker. What's wrong with this information?

How can any company dictate what I do with my retirement funds.

Any assistance would be appreciated.

Sounds shady to me.

Ask them for the citation to the rules they are using as a basis for telling you this.

Then post them here.