By logging onto a Plan Web site, participants can gain access to the IRA Marketplace and open an account with a selected provider. Available providers are Ameritrade, ETRADE, Merrill Lynch, T. Rowe Price, and others, according to a company press release.
The IRA Direct Link also allows automated account opening processing in real-time and provides a signature ready application for mailing to an IRA institution, the news release stated.
One participants have an account, they are linked to the plan administrator’s online distribution process or form which will allow for the account distribution process, according to the company. Direct Link can be implemented within two weeks of purchase, according to the news release.
Wealth Management Systems has recently added other features to its Rollover System, including a partnership with a Hueler Investment Services’ Income Solutions application to make immediate fixed annuities available to retirement plan participants (See WMSIs Rollover Solution Network to Include Annuity Product Access ). It also recently integrated its system with Pyramid Digital Solutions to aid the latter’s clients with rollover solutions (See New Client Gets Wealth Management Systems’ Rollover Program ).
Wealth Management Systems Inc. ( www.wealthmsi.com ) is a provider of technology-based rollover products and services for the retirement industry.