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Rating:What Took So Long? Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, February 12, 2001

What Took So Long?

Reported by Alfred Wang

Opening an IRA account online is emerging as a fashionable tax time strategy, and American Century Investments is the latest fund complex to make this option available for investors. Investors wanting Roth or traditional IRAs for the 2000 tax year now can open those accounts online and fund the account immediately. For investors rolling over a 401(k) or other retirement plan assets into a Rollover IRA, the process now can be completed entirely online.

With online applications available October 1 and other similar IRA programs already announced this year, doesn't this seem a bit tardy for a firm with such a strong commitment to the Internet?

"We actually did have applications available October 1 at 12:01 AM," said spokeswoman Beth Randolph-Taylor. "As we have developed the technology, we've been rolling out different kinds of applications."

Next on the docket for online development is LearningQuest, the firm's 529 program.

"We don't have a specific date yet because we have infrastructure issues since it's on a different platform," explained Randolph-Taylor. Also in the works is a 401(k) rollover program. She said, "You can do it online now, but we're improving how that functions from the customer's end.

The Kansas City firm has approximately $100 billion in assets under management in seventy-five mutual funds.


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