Broker’s suggested purchase for IRA

Will be 70 yo this November. Have IRA with various funds/stocks. Advisor suggests a sell of GRIT120 shares and use proceeds to buy into Ivey hi yield (WRHIX). Not sure if this is in our (wife and I) best interest or his. Your thoughts on wisdom of this change. Approx value of IRA now at 180K. Thanks, Terry.

Terry Says:  Your instincts are correct!  I don’t know what GRIT is, but in your position you do not belong in a risky, high-yield fund. AND, depending on what class if shares you buy, the broker gets a big commission, plus you pay 1.64% in annual expenses for this fund.  That’s ridiculous.  Find another advisor — or just roll the entire IRA into Fidelity or Vanguard and take their advice for continuing growth, while managing retired minimum distributions which will come along next year.