NU Online News Service, Sept. 8, 2003, 12:38 p.m. EDT – Merrill Lynch & Company Inc., New York, has agreed to market individual retirement accounts through http://www.rollovermarket.com
The site, operated by RolloverSystems Inc., Charlotte, N.C., gives financial services companies a vehicle for marketing IRAs to 401(k) plan participants who need to roll over plan assets because they are retiring or changing jobs.
The financial services companies that sell through the site bid for the business of the consumers who use the site. A participant can choose an offer and complete all of the paperwork needed to effect a transfer of funds online, RolloverSystems says.
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