FPS Group Unveils Updated IPX Platform
CENTENNIAL, CO, April 26, 2018 -- FPS Group, LLC, an innovative solutions provider for retirement plan professionals operating in the 403b and 457b markets, is introducing updates to the user interface and experience on its Investment Provider Xchange ("IPX"). The IPX platform provides registered investment advisors (RIAs) with a more manageable entry point into the complex 403b and 457b markets by streamlining the requisite custody, trust, trading and administrative services.
The redesign comes as the 403b market falls under increased criticism for its complex and costly offerings, while plan sponsor and participant calls for a more transparent, less unwieldy program have grown louder. As more advisors move away from commission-based products and seek opportunities to expand their businesses, IPX removes barriers to entry in the 403b space by allowing RIAs to design their own investment solutions and have more control over participant accounts and outcomes. Through IPX, RIAs gain increased access to participants, allowing them to communicate more efficiently and direct them toward the right solutions and products.
"The 403b space presents a complex landscape with countless products and advisors operating under an evolving regulatory environment. As a result, fee-only advisors have a hard time wrestling with the market," says James Olson, Managing Director of FPS Group. "Our firm is deeply committed to the 403b space and there is an emerging opportunity for advisors who are willing and interested to engage in 403bs. We've designed IPX to be the best practice for advisors entering or operating in the space."
IPX is a modernization of traditional recordkeeping platforms that serve plans with multiple providers. The solution was created following 2009 regulatory changes, which sought to structure the 403b offering similarly to the traditional 401k retirement savings vehicle. However, as the regulatory changes failed to create their intended result, IPX quickly became the marketplace's answer for navigating the space by providing a single-source, end-to-end solution for advisors as well as other investment providers and third-party administrators.
"The industry is desperate for increased awareness and training around the 403b space, and the participant experience is undoubtedly improved by better equipping those who serve the plans," Olson added. "IPX can be part of the solution for advisors interested in growing their business in this way."
The updates will be introduced this week at the Fi360 Annual Conference in San Diego, Calif. Olson will be hosting a panel discussion on The Essentials of Government Markets on Thursday, 4/26, which will offer insight into the government retirement plan market. For more information on IPX, please visit www.ipxplatform.com.
Investment Provider Xchange ("IPX") is a single-source end-to-end solution for providers in the 403b and 457b plan markets, offering the benefits of a multiple provider approach with the simplicity of single provider. IPX combines a technology platform for fund trading, recordkeeping and online account access with a custom plan design and consulting from a third-party administrator. Features include transaction processing for contributions, distributions, and participant loans, aggregated participant data accessed via a single, robust web portal and the ability to access mutual funds and annuities on one platform. For more information, please visit www.ipxplatform.com.
About FPS Group
FPS Group, LLC develops products and services designed to offer retirement planning industry stakeholders innovative and efficient ways to streamline processes, cut costs and improve their bottom line. FPS Group offers the Investment Provider Xchange ("IPX"), providing RIAs with a renewed entry point to the 403b market. The firm also specializes in Paying Agent Services and Automatic IRA Rollover Services, and offers custody and safekeeping, recordkeeping, tax reporting, income collection, investment of cash balances and other non-fiduciary activities. As a result, FPS clients are more efficient and can offer improved functionality and responsiveness to their clients. For more information, please visit www.fpsgroupllc.com.
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company mentioned or its representatives. Although 401khelpcenter.com may edit the release for editorial consistency, spelling, grammar, punctuation, or other editorial issues, it is not the author of the press release. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com.