Wachovia Joins RolloverSystems Network
CHARLOTTE, NC, December 6, 2005 -- Effective immediately, Wachovia Corporation is a member of the RolloverSystems Network of IRA providers. Now totaling 15 top financial institutions, RolloverSystems boasts the industry's largest, most comprehensive array of retirement account providers available in one place. The company operates the only independent, objective platform that enables plan participants nationwide to choose an IRA, execute a rollover in minutes and continue to save in a tax-deferred retirement account.
Wachovia now offers IRAs via the RolloverMarket Direct(TM) Network, providing rollover candidates with access to a full range of IRA choices, including CDs, stocks, bonds and thousands of mutual funds from well-known fund families. In addition, customers who select a Wachovia Rollover IRA can receive a free in-person retirement consultation in a local Wachovia financial center.
"Joining the RolloverSystems Network was a strategic decision that made perfect sense," said Bob Reid, President of Wachovia's Retirement and Investment Products Group. "Retirement is one of Wachovia's core focuses. By partnering with RolloverSystems, we are able to target customers with offerings that are aligned with their individual needs - whether they are nearing retirement or just starting out in the workforce."
RolloverSystems gives financial institutions access to the next generation of retirement investors, enabling them to selectively target their most desirable customers. The company provides outsourced rollover services under private label with open technology and unparalleled customer service, enabling retirement plan providers to retain assets and streamline distribution operations. Today, RolloverSystems' automated rollover platform is fast becoming the standard for companies, individuals and financial advisors to complete transactions in as little as 10 minutes with virtually no margin for error.
"We continue to grow and diversify the retirement products and services available to our plan sponsor and plan provider clients," said RolloverSystems CEO Reginald Bowser. "With Wachovia joining our IRA Network, we are able to provide customers with the added bonus of retirement planning and advice along with a wider selection of investments and account solutions."
About RolloverSystems
RolloverSystems is the leading provider of outsourced retirement plan rollover services for financial institutions, plan sponsors, and HR technology companies. The company operates the only independent, objective platform that matches eligible retirement plan participants with a network of top-tier financial institutions offering rollover IRAs, including Fidelity, TD Waterhouse, Charles Schwab, American Century, JPMorgan Chase and Neuberger Berman. For more information on RolloverSystems, please visit www.rolloversystems.com or www.rollovermarket.com.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $532.4 billion, market capitalization of $73.9 billion and stockholders' equity of $46.8 billion at September 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,138 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 702 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through Wachovia.com.
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