With Total IRA Plus, plan participants looking to roll over retirement accounts get a choice of screened investment options and are also given asset allocation tools to help them choose the portfolio that best suits their needs. Participants that are automatically rolled into Total IRA Plus are encouraged to diversify their investments beyond the initial Safe Harbor investment, according to a press release.
New IRA accountholders also have 24/7 access to account information via the internet and a toll-free number, as well as access to skilled IRA customer service representatives seven days a week.“Many of our qualified plan recordkeepers understand that the IRA plays a major role in retirement savings and that they are constantly losing accounts and revenue from qualified plans to IRA rollovers. However, many of those clients are not in a position where they can offer a compliant solution that doesn’t involve essentially transferring assets to a competitor,” said Tim Friday, Group CEO of Mid Atlantic Capital Group and officer of MATC. “With this solution, recordkeepers get paid each year for every IRA account maintained by Mid Atlantic and Inspira, two entities that do not compete with them, but simply provide outsourced services which help their clientele attract, grow, and maintain assets.”