Press Release
20th TPA Selects ExpertPlan as Platform
East Windsor, NJ, October 16, 2002 - ExpertPlan, a leading provider of online retirement plan administration to financial institutions, announced today that the 20th Third Party Administrator (TPA) firm has selected its flexible defined contribution plan administration solution for the retirement plans they sell. By leveraging the Internet and advanced technology, ExpertPlan provides a revolutionary way to administer defined contribution plans whereby account records, core administration and notifications are systematically integrated, resulting in a paperless service ability with true straight through processing. ExpertPlan leverages the Internet and advanced technology to provide a revolutionary way to administer defined contribution plans whereby account records, core administration and notifications are systematically integrated, resulting in a paperless service ability with true straight through processing. This enables TPAs to now profitably and efficiently serve the mid-to-large size retirement plan market.
ExpertPlan's platform helps TPAs evolve from a paper-based to an online system that delivers automatic administration including plan conversion, set-up, and enrollment, and IRS compliance, as well as online marketing tools such as proposal generation, and a branded and customized web site. ExpertPlan's platform helps TPAs evolve from a paper-based system to an online one that delivers automatic administration including plan conversion, set-up, and enrollment, and IRS compliance, as well as online marketing tools such as proposal generation, and a branded and customized web site. The platform allows TPAs to select funds from over 50 different fund families.
"Our feedback from our current TPA customers is that the ExpertPlan platform catapults them into new territory, and gives them a competitive offering," said Winthrop Cody, President of ExpertPlan. With the technology to profitably serve the retirement plan market, TPAs benefit from improved client retention, improved profitability, streamlined administration and service, and the ability to deliver a customized product that differentiates them in the marketplace," Cody said.
Edward J. Gilmartin, president of Gilmartin Associates, Inc. in Scranton, PA, one of the first TPAs to contract with ExpertPlan, affirms the competitive advantage that ExpertPlan has provided, claiming that ExpertPlan has "revolutionized his business." "ExpertPlan's platform gives us the opportunity to market high end technology and local service," said Gilmartin. He also stated that, "Now, I have the tools that allow me to focus on my core strength, designing and installing new plans on a very cost-effective basis in a highly competitive marketplace."
"What's more, no two TPAs are alike, and ExpertPlan's platform has the flexibility to meet their diverse needs," continued Cody. ExpertPlan's platform is designed for TPAs who sell and service their own accounts, recordkeep for brokers who want local and independent record keeping, or TPAs who are also Registered Independent Advisors.
"ExpertPlan's platform truly defines the future of recordkeeping," said Bill Moore, CEO of PENSERVCO, the latest TPA to contract with ExpertPlan. "ExpertPlan has been selected as the engine behind the 401k products offered by the nation's leading financial firms. Being able to benefit from the same automatic, paperless retirement plan administration and recordkeeping platform is momentous, and allows us to expand our services and be competitive," Moore commented.
Using ExpertPlan's platforms, TPAs can focus on their strengths: selling, designing, and installing plans, and financial consulting services. TPAs serve plan sponsors based on fees according to the level of service provided.
About ExpertPlan
ExpertPlan is a leading Internet-based provider of retirement plan solutions, which enables financial professionals to offer high-quality, low-cost retirement plans to meet the needs of their clients. ExpertPlan utilizes the Internet and proprietary technology to offer turnkey retirement plan solutions that incorporate scalable, online set-up, record keeping, IRS compliance and transaction management services. ExpertPlan's web-based model empowers plan participants to conveniently manage their own accounts, which eliminates errors, and reduces costs and administrative burdens on financial professionals and employers. ExpertPlan is located at 50 Millstone Road, Building 400, Suite 100, East Windsor, NJ 08520, (609)-918-2500.
###
401khelpcenter.com, LLC is not the author of this press release and is not associated or affiliated with any firm or organization mentioned unless otherwise noted. Use of any information obtained from this press 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, LLC.
