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Wealth Management Systems Offers IRA "Direct Link" -
No Assembly Required
Holgate, NJ (January 11, 2004) - Wealth Management Systems,
the first company to offer fully automated rollovers, announced a
new spin on their Rollover Solutions Network: the IRA "Direct Link".
Direct Link is a new WMSI offering that enables administrators to
quickly and easily make rollover services available to participants
with no systems integration required. Simply by logging on
to their Plan Website, participants can gain access to the WMSI IRA
Marketplace and open an account in real time with their provider of
choice including Ameritrade, ETRADE, Merrill Lynch and T. Rowe Price.
IRA Direct Link:
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Automates the account opening process. |
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Opens the IRA account in real time. |
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Provides a signature ready application for mailing
to the IRA institution. |
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Requires no systems integration. |
Once the new IRA account is opened, the participant is then linked to the plan
administrator's online distribution process or distribution form to facilitate the
account distribution process.
Within the industry, it is still common to find organizations utilizing paper-based
distribution processes to accommodate plan exception processing and plan sponsor approval
requirements. With IRA Direct Link, organizations can now offer rollover services online
without having to outsource the IRA selection or forms management processes. This service
configuration enables the service provider to own the customer experience - not outsource it.
Direct Link can be implemented within a two-week timeframe and is an extremely efficient way
to make rollover services available to a broad participant base.
"We recognize that within the IRA marketplace, it is increasingly important for our clients to
enhance service offerings and build a one-to-one relationship with participants", said Tom Loch,
President of Wealth Management Systems. "Direct Link is a cost-effective solution that empowers
our customers to directly service their own participants and leave no rollover behind. And the
Direct Link technology can grow and expand with an organization as they look to enhance
distribution and rollover services and leverage operational efficiencies."
About Wealth Management Systems Inc.
Wealth Management Systems Inc. (WMSI) is the leading provider of technology-based
rollover products and services within the retirement industry. WMSI's Rollover Solutions Network integrates the processing platforms
of Third Party Administrators and IRA providers, enabling exiting
employees to effect their distributions and open IRA accounts in a
single, real-time transaction. Through RSN, financial institutions
are able to further asset retention initiatives and gain access to
a volume distribution network. TPAs and Plan Sponsors are provided
with comprehensive distribution and rollover processing services that
can significantly reduce administrative burdens and operating costs.
And participants gain access to the comprehensive IRA and annuity
services they are seeking as they make distribution decisions that
will effect their long term financial well being. The Rollover Solutions
Network is quickly becoming the industry standard for rollover processing
and currently services over 1 million participants through its Call
Center and Participant Website applications.
WMSI also offers the only complete, fully automated EGTRRA Rollover Solution that satisfies Safe Harbor
Provisions and provides for participant notifications and the administration of Plan Sponsor and IRA
Provider agreements.
Additional information about WMSI and all rollover product solutions is available at www.wealthmsi.com.
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