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| Mandatory & Terminated Plan Rollovers |
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This one-stop, no fee solution makes it easier than ever to accommodate mandatory rollovers from tax-qualified plans and rollovers resulting from individual account plan terminations – all while saving time and money and reducing administrative burdens and errors.*
Working with TPAs and Recordkeepers, WMSI automates the exchange of participant data to:
- Open IRA accounts automatically with participating IRA providers including: The Bancorp Bank, E*Trade Financial, Matrix/ MG Trust Company LLC, Merrill Lynch, Millennium Trust Company
- Fund IRAs directly
- Batch process rollover distributions
- Generate reconciled reports of all fund activity
- Support paperless processing – no distribution forms or IRA applications to handle – as well as regular processing cycles (annual, semi-annual or quarterly)
- Provide written agreements with IRA provider
Advisory firms and Broker/Dealers can use this solution to:
- Address the needs of plan sponsors to foster relationships
- Expand cross-selling opportunities
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