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Wealth Management Systems Forms Alliance with Hueler Investment Services to Offer Annuities
Holgate, NJ (November 29, 2004)
- Wealth Management Systems Inc., a leading provider of rollover solutions and technology services within the financial services industry, today announced that it will integrate the Rollover Solutions Network (RSN) application with Income Solutions, an annuity purchase program of Hueler Investment Services, Inc., to make immediate fixed annuities accessible to retirement plan participants via an IRA rollover. Through the RSN Network, participants will be able to process their distribution and convert their retirement account balance or a portion thereof into an immediate fixed annuity by accessing the Income Solutions annuity program.
RSN will electronically process participant distributions and provide participants with access to an IRA Marketplace and the Income Solutions annuity program. This structured program will enable TPAs and Plan Sponsors alike to provide participants with access to varying investment products relative to their individual life stage needs and financial goals.
"For participants nearing or in retirement, our Income Solutions program offers easy access to institutionally priced, competitively bid annuity quotes from a group of high quality insurance companies. This program emphasizes choice, low cost delivery, and competition. But maybe most importantly, Income Solutions empowers individual investors by providing them the tools necessary to create a cost effective, dependable income replacement stream for life," said Kelli Hustad Hueler, President of Hueler Investment Services, Inc. "The Rollover Solutions Network provides participants nearing retirement with direct access to annuity products that can help them build a secure income foundation for retirement at their point of distribution."
"To implement an effective distribution strategy, you must offer products and services that meet the varying needs of all investors while making it easy to do business with you, "said Tom Loch, President of Wealth Management Systems Inc. "Hueler embraces this principle and has developed the Income Solutions annuity program to provide participants nearing retirement with a one-stop solution for purchasing annuities. Combining the depth of the Income Solutions offering with the automated distribution and processing capabilities of the Rollover Solutions Network will transform the services being made available to pre-retirees today."
About Hueler Investment Services Inc.
Hueler Investment Services, Inc. is an affiliate of the Minneapolis based Hueler Companies known as a leading technology and data research firm focused exclusively on the stable value and annuity markets. Established in 1987, the Hueler organization's clients represent the premiere institutional investment managers, financial services firms, corporate plan sponsors, insurance companies, and banks.
The Income Solutions annuity program is the result of Hueler Companies long time vision of using its unique knowledge base and market position to bring choice and competitive institutional style delivery of immediate fixed annuity products to individual plan participants.
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 within 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 automatic rollover agreements.
Additional information about WMSI and all rollover product solutions is available at www.wealthmsi.com.
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