June 19, 2014 (PLANSPONSOR.com) - FPS Services, LLC, an affiliate of FPS Group, LLC and a Bluff Point company, has rolled out its Investment Provider Xchange (IPX) platform.
IPX platform is a trading and recordkeeping platform focused on serving K-12
school district 403(b) plans, participants, and their investment providers. “IPX
gives us an ease of processing that is otherwise found only in a single
investment provider plan design, but with the ability to offer all of the
obvious benefits sought by employers who prefer a multi-provider plan for their
participants,” says James Olson, head of product development at FPS Services.
integrates FPS’s trust and recordkeeping systems with online portals for plan
sponsors, participants, advisers, and the administrative systems and services
of TSA Consulting Group, which FPS says is one of the largest providers of
administration and consulting services among K-12 403(b) plans nationwide (see “TSA Consulting Acquires 403(b) Solutions Program”). That integration gives
employers and participants access to account balances and activity in addition
to education content and product information, all from a single site and
essentially gives those 403(b) participants who hold investments from multiple
providers the same access to their total account information, just like 401(k)
participants have had for years,” according to Scott Pearson, president of FPS
Trust Company, which provides the necessary custodial services.