Consolidate accounts to build and grow your assets.

If you're like many Americans today, you may have several separate IRAs or qualified 401K plan balances. At some point, you may have set up an individual IRA to help defer income taxes. Or, you may still have a 401K plan balance through a previous employer.

You may be wondering how you can leverage these accounts to earn greater returns. In addition, it's important that these accounts support your retirement goals and help you create a more well-rounded, balanced portfolio.

Learn how a couple used MassMutual Trust Company's wealth management services to consolidate accounts and grow their assets while also managing investment risk.

Meet the Andersons

Paul and Sandy Anderson are in their mid 50s. The couple has two children: Megan is 28 and Brian is 25. The Andersons currently have three grandchildren.

The Andersons both have successful careers. Paul has worked for multiple companies in the construction business over the years. He has several retirement accounts with different fund managers. He feels like his assets are scattered and may not be earning to their greatest potential. Sandy has been with an advertising firm for over 30 years. She has been contributing to her firm's 401K plan and has a substantial retirement nest egg, which will remain in the plan while she continues to work.

The current situation

Paul began his construction career with an entry-level position as a carpenter. The 401K plan he contributed to many years ago as a carpenter is currently valued at $80,000. Since then, he has been employed by several construction management firms and has more recently been in management positions. He has two rollover IRA accounts from 401K plans provided by two previous employers valued at $225,000 and $300,000. The three accounts have a total value of $605,000.

Paul feels that his investments and retirement accounts are not being managed well, and he is less than happy with his returns. He has been considering consolidating his individual 401K plan balance from his first job and the two rollover IRAs into one account. The couple also owns a few stocks, mutual funds, and two rental properties.

Benefits of consolidating 401K plan balances and IRAs with MassMutual Trust:

• More accurate picture of assets helps create a more balanced portfolio
• Easier to monitor accounts with one report
• MassMutual Chief Investment Officer oversees the account
• Single fee for one consolidated investment account

If the situation stays the same

If the Andersons leave Paul's individual 401K plan balance and rollover IRAs as is, they will continue to miss out on opportunities to improve their investment returns. Their retirement portfolio may also suffer from a lack of diversification. By having several separate accounts, no one is looking at the big picture to make sure the Andersons are diversifying their assets and creating a balanced portfolio. Additionally, the Andersons receive multiple statements and pay multiple service fees from various money managers.

When the Andersons choose MassMutual Trust

By choosing MassMutual Trust, the Andersons were able to consolidate Paul's 401K plan balance and IRAs into one account, receiving one easy-to-read statement and one account fee. The Andersons have the guidance of a MassMutual Investment Officer helping them diversify their assets and create a more balanced portfolio. Their Investment Officer is also taking Sandy's existing 401K plan — as well as the stocks, mutual funds, and real estate they own — into consideration as he plans their investment strategy. The new asset allocation plan has improved returns and matches the Andersons' level of risk tolerance.

The couple no longer has to call three different customer service centers for information and instead has one dedicated Trust Officer to contact for personal service. In addition to receiving personalized service from their Trust Officer, the Andersons also have access to MassMutual's Chief Investment Officer, if they need it.

The results

The Andersons feel confident that Paul's individual 401K plan balance and rollover IRAs — that were basically sitting in accounts unmonitored — are now earning greater returns and have been aligned with the Andersons' overall investment strategy to create a stronger, more diversified portfolio. In addition, the Andersons have peace of mind knowing that MassMutual Trust is managing the day-to-day details of their account and regularly monitoring and adjusting the consolidated account for maximum performance.

To learn more about the MassMutual Trust Company's personalized trust and wealth management services, call us today at 1-888-894-5354.