We do the little things so you can accomplish great things.
The retirement plan regulatory landscape is continually changing, which presents challenges and opportunities for advisors serving qualified plans. To manage a profitable retirement plan advisory business, investment advisors require support from consistent and reliable service partners. Through unparalleled investment selection, innovative employee enrollment and account management tools, and back-office solutions, we help advisors to drive exceptional participant outcomes while scaling retirement plan advisory business for growth and profitability.
Following are the areas in which we help advisors to acquire, manage, and scale retirement plan advisory business:
Advisor Connect is our monthly video series designed specifically to share business-building ideas with financial professionals working with qualified retirement plans. To access the library of videos, please click here.
Spend less time managing fund menus, and more time managing relationships. Our investment advisor web portal provides a user-friendly interface that enables advisors to manage fund menus and model portfolios across multiple plans simultaneously. Fund changes are submitted through the portal in a matter of minutes and we prepare the participant fee disclosures and mapping notices, so you can get back to managing your existing relationships and developing new ones.
READY.SET(k) Solution for New Plans
TRPC believes that smaller businesses deserve the ability to establish a 401(k) plan to serve themselves and their employees just as much as larger companies. However, the rules, regulations, and fees to set up and manage a plan often means small companies are forced to forego this important benefit. TRPC has solved this problem with our new READY.SET(k) safe harbor solution expressly designed for businesses starting up a new plan.
With READY.SET(k), we have simplified the setup, plan design, implementation and fee structure to provide just the features small business owners are looking for in their first 401(k) plan. But simple and low-cost doesn’t mean inferior. Quite the opposite. READY.SET(k) is supported by our expert team of consultants and is fully supported by the employer’s chosen financial advisor. And given the many custodian and investment platforms we work with, a READY.SET(k) plan can offer virtually any mix of high-quality, low-cost investments to suit the needs of each unique business.
iJoin Enrollment Technology
Increase employee participation and engagement through “gamification”. iJoin is an interactive employee education and enrollment technology that has proven to significantly increase employee participation rates and contribution levels. Accessible on a computer, tablet, or smart phone, it performs a gap analysis to help the participant determine an appropriate savings level, and provides guidance in making investment selections.
iJoin is branded to include the plan advisor’s picture and contact information in order to create an engaging and personal experience. Used either in place of on-site employee enrollment meetings or in conjunction with on-site meetings, it enables the advisor to be in two places at once by providing professional guidance without needing to meet with each employee one-on-one.
We are successful in growing our business only to the extent that we’re successful in helping you grow yours. Each of our advisor partners is assigned a dedicated TRPC sales representative to provide support with proposals and RFP responses, benchmarking studies and cost comparisons, consulting and plan design studies, web demos and sales presentations, and plan implementations and conversions. Our goal is for your relationship with your TRPC sales representative to be a well-oiled machine that maximizes your chances of closing each new opportunity. To connect with the TRPC sales representative in your region, please email us at firstname.lastname@example.org.
Capture more of the IRA rollover assets that are leaving the plans that you manage. AdvisorIRA is a product on TRPC’s recordkeeping platform that enables investment advisors to manage their individual clients’ IRA accounts. When a participant initiates a rollover from their employer’s plan at TRPC, the first rollover option that they see will be your AdvisorIRA product. AdvisorIRA offers the following features:
- Consolidated asset management for a book of IRA business to a “master” account level (similar to in a company retirement plan)
- Access to thousands of mutual funds and ETFs for inclusion in your product’s investment menu
- Model portfolio management, including an auto-rebalance option
- No limit to the number of different advisory fee rates that can be applied to accounts within your IRA product
To us, “Open Architecture” means so much more than a long list of mutual funds for the plan and its advisor to choose from. In managing the plan’s investments, not only does the advisor have access to virtually the entire universe of mutual funds and ETFs, but to stable value funds, collective investment trusts, self-directed brokerage accounts, managed accounts, and model portfolios (risk-based or age-based).
Open Architecture also means that the plan can use any one of the five custodians with whom we partner (Charles Schwab, TD Ameritrade, Fidelity, Mid-Atlantic, or Matrix). And for plan design, regulatory compliance, and consulting, the plan sponsor is free to use any TPA, whether it be TRPC or another firm of its choosing.
In addition, the plan and its advisor are not limited to a menu of advisory fee arrangements. TRPC is able to accommodate any advisory fee arrangement to which the plan sponsor and advisor have agreed, including tiered asset-based arrangements, per-participant arrangements, and flat dollar arrangements.
TRPC’s definition of “Open Architecture” means that the plan sponsor – with the help of its advisor – is able to custom-build an employee retirement savings program and overall service arrangement that meets the objectives of the employer, while best positioning its employees to meet retirement savings goals.