RolloverSystems Unveils New Rollover Retention Solution for Brokers and Advisors
Multi-Channel Platform gives Individual Financial Advisors an Edge in Growing and Retaining Rollover Assets
CHARLOTTE, NC, November 15, 2004 -- RolloverSystems, Inc., the leader in technology-based 401k rollover solutions, announced today its RolloverHQ
TM Retention Solution that gives investment brokers and advisors unparalleled choice and control in retaining retirement plan balances.
Chief Executive Officer Reginald Bowser unveiled the solution today during his address at Financial Research Associates' annual IRA Rollover Summit in Boston.
"In developing this latest version of RolloverHQ, we received extensive feedback from mutual fund companies, brokers, and plan sponsors. We listened especially to what brokers wanted, and we are responding with a solution we believe will be very well received," said Bowser.
Available through a secure, password-protected website, RolloverHQ enables brokers to segment, target and retain rollover candidates they would otherwise miss. Terminated plan participants can use the online system to complete all necessary rollover paperwork, including the broker's own suitability profile, and select an IRA account in as little as 10 minutes. RolloverSystems then facilitates the back-office process with customized, outsourced fulfillment to complete the transaction.
"Our solution is about helping brokers and advisors become more successful retaining selected accounts," explains Bowser. "The broker has complete control of targeting, and our system allows them to offer the same investment products they sell every day. We simply provide them with an interface that removes much of the administrative burden, generates more sales, and lets them focus on providing investment advice."
RolloverHQ also provides brokers and plan providers a solution for new mandatory rollover rules. RolloverSystems will process automatic rollovers to safe harbor IRAs fully compliant with new Department of Labor rules governing mandatory distributions. Automatic rollover provisions under the Economic Growth and Tax Reconciliation Relief Act of 2001 (EGTRRA) go into effect on March 28, 2005.
About RolloverSystems
RolloverSystems is the leading provider of technology-based 401k and 403(b) rollover products and services for financial institutions, plan sponsors, HR technology companies, financial advisors, third party administrators, and consumers. The company helps financial institutions capture new Rollover IRA customers and selectively retain corporate retirement plan assets as Rollover IRAs. In addition, RolloverSystems helps plan sponsors and plan providers save time and money by outsourcing rollover transactions and enabling more terminated participants to select a rollover option. The company operates the only open exchange that matches retirement plan participants with a network of top-tier financial institutions. For more information on RolloverSystems, please visit http://www.rolloversystems.com.
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