The Lord Abbett Retirement Proposal System, a proprietary Web-based, real-time service, allows small businesses to conduct a 401(k) search by aggregating information about the business and the employees onto a secured online source. The Lord Abbett Retirement Proposal System then automatically generates a proposal that can be viewed with the advisor’s client and is filed and submitted to Lord Abbett, according to a news release.
With the release of the product, Lord Abbett now provides Financial Advisors elements they can use to develop and conduct business in the small business retirement market including:
- the ability to prospect for plans and clients through its Lord Abbett Intelligence system
- plans starting at $500 for the Lord Abbett SafeHarbor and Turnkey 401(k) plans;
- access to qualified portfolio managers.
In addition to streamlining the process, financial advisors can benefit from the product with the ability to show much in tax savings an owner may be eligible for before and after establishing a plan. The Lord Abbett Retirement Proposal System also illustrates how establishing a retirement plan for their company not only benefits themselves but their employees by providing increased options for retirement savings and proper plan options to maximize savings.