August 15, 2012 in Wealth Management Systems Inspira Joins WMSI’s Automatic Rollover Program Expanding IRA Choices
Wealth Management Systems, Inc. (WMSI) announced today that Inspira is being offered as an IRA Choice within its Automatic Rollover Program, expanding options for record keepers and plan sponsors managing rollover plan assets for missing and nonresponsive participants.
"Total IRA™ not only offers a default investment that enables even small involuntary accountholders to continue to grow assets but also gives those accountholders the opportunity to diversify that original investment into over 30 mutual funds screened and monitored by an independent investment advisor," said Inspira founder Lowell Smith Jr. "Our goal is to focus on the needs of these low balance accountholders, giving plan fiduciaries the ability to feel comfortable in their fiduciary decision to use Total IRA™ as their Automatic IRA Rollover Solution."
For WMSI, the partnership expands IRA choices for clients and prospects and provides access to a unique default fund investment.
"Managing the accounts of terminated employees can be a real administrative burden – one that increases plan costs and potential liabilities for plan sponsors," stated John Geli, WMSI’s Chief Executive Officer. "Our automatic rollover program is designed to alleviate these burdens by automating administration and account opening processes and by offering a choice of IRA options. Through our partnership with Inspira, our clients gain access to an additional, unique automatic rollover option that we can offer to our rapidly expanding client-base."