Clients don’t always say they’re worried about inflation or layoffs, but their behavior often reveals it. As costs remain elevated and news of workforce reductions continues to pick up, households are quietly reassessing where their money sits and how accessible it feels.
That cautious, proactive behavior shows up clearly in retirement rollovers. Last year, a record $1 trillion moved between retirement accounts, but advisors were involved in only about 22% of those transactions, according to data from research firm Hearts & Wallets. Most rollovers are still happening without professional guidance, even as these moments represent key financial inflection points.
That gap matters — not just for asset flows, but for understanding client behavior. The report showed that consumers are actively shopping and making decisions on their own. Even with advisor-influenced rollovers ticking up from 17% in 2024 to 22% in 2025, the majority of this money is still moving independently.
On the surface, rollover balances may not look transformational. The average rollover was $133,000. About 83% were under $100,000, while roughly 16% exceeded $100,000, with many above $250,000. Individually, these aren’t always headline-grabbing accounts. Collectively, they represent one of the most active moments in a client’s financial life.
What’s driving these moves isn’t performance or product selection. The most common reasons cited were “simplify my finances,” “consolidate for better planning,” and “better service.” That’s a telling list. Clients aren’t signaling a need for more complexity—they’re signaling a desire for clarity and coordination.
There’s also a generational angle worth noting. Rollovers into new employer plans doubled to an estimated $160 billion by the end of 2025, up from $80 billion in 2022. This trend was especially pronounced among late-career workers ages 53 to 64. At the same time, 401(k) recordkeepers and employers are improving retention by offering more investment options and services, reducing the default flow into IRAs.
Zooming out, the broader retirement pool continues to grow. IRAs now hold $18.9 trillion, while defined contribution plans hold $13.9 trillion. Total retirement assets across all vehicles rose to $48.1 trillion during the third quarter last year.
The takeaway for advisors isn’t just about capturing rollovers, it’s about being present in the moments that matter and helping clients navigate life’s complexities. Clients are already moving money, and becoming that trusted guide unlocks more than assets: it builds confidence, strengthens relationships, and makes you the go-to resource whenever important financial decisions arise.
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