Pittsburgh, PA (PRWEB) August 28, 2014
The conference, being held at the Harvard Club of Boston and organized by Financial Research Associates (FRA), is designed to help retirement investment executives and their teams learn how to best position their firms to capture IRA rollovers. According to FRA, rollover activity in 2014 could potentially hit $460 billion dollars.
“Over the last 10 years, the retirement industry has started to shift from a focus on asset gathering to a new focus on asset retention,” says Pete Littlejohn, who will be speaking on behalf of Inspira at the conference. “As the IRA market continues to grow, capturing as many rollovers as possible is going to become critical to these firms’ survival.”
According to the Employee Benefits Research Institute’s IRA Database, 69-percent of rollovers involve accounts with less than $50,000, while 80-percent involve accounts with less than $100,000. Unfortunately, most firms do not consider those accounts valuable enough to manage.
Inspira, in partnership with investment advisory firm GuidedChoice, has created an IRA platform that provides professionally managed account services to these accounts online. This new managed IRA program can be customized with any firm’s branding and can even use their proprietary funds.
“The problem with these smaller accounts right now is that there hasn’t been a profitable way to provide advice on them,” added Littlejohn. “We’re giving these firms the solution now by handling all of the IRA servicing and account management, and sharing the revenue back to them.
“The retirement industry has been battling over the top 10- or 15-percent of rollovers for too long. There’s a huge opportunity with that other 80-percent, and we want to put firms in a position to win those accounts going forward. We think it’s the next frontier in retirement.”