BY NICK BROWN
A few months ago, I went in to my credit union branch to deposit some checks into my business account. Like many credit union branches, behind the teller line were a few TV’s playing the standard loop—the weather, then sports scores, some trivia and news, then an advertisement for the product or service the marketing team is promoting.
The credit union was promoting their 401K-rollover. If you rolled over your 401K with them you would also get a large gift card. This quickly caught my eye because for the past two-plus years, I have been meaning to roll over a 401K from my previous employer.I thought to myself, “Cool, I can get a gift card for doing something I am already planning to do.”
While the teller processed my deposit,I made a comment to her about the promotion.I believe I said something like “Oh, I see you are running a 401K-rollover promotion right now.” She responded by giving me some information about the promotion and then she asked me a question, “Have you ever met with one of our advisors?”
It just so happens that I have met with their advisors many times but never about my 401K.In fact, I had worked with several of their advisors in the past and so I answered honestly, “Yes, I have.”She said okay, and went back to processing my transaction. I waited for a response that would continue the conversation, allow me to share that I had a 401K I wanted to roll over with them, but I could tell she wasn’t prepared for that answer. I walked out of the branch and went on with my day.Now, six months later, I still need to roll over my 401K.