by NFichter » Sat May 15, 2010 1:06 pm
I am an advisor keenly interested in whether FM can be practically used to keep track of client 401k (and similar - e.g. 403b) accounts along side the more typcal brokerage account. Mark has provided good answers to my questions about this, but I am interested in whether advisors are doing this successfully - are there surprises, is it really practical. One area of concern is 2 factor identification requirements - e.g., security questions - mother's maiden name, etc. It appears from what I have seen that some possibly many 401k custodians provide OFX (or similar) downloads for 401k via their regular web login that more and more has security features that are impractical to handle via something like FM - so getting the downloads may in practical terms not be feasible. There may be other gotchas - can anyone speak to real world attempts with this? thanks - Nick