Matrix Financial Solutions And Risk Compliance Performance Solutions Partner To Provide Uncashed Check Mitigation Services To Record Keepers, Third Party Administrators And Retirement Plan Sponsors
Companies collaborate to offer comprehensive services to locate and communicate with stale, dated or missing check holders and reunite them with their assets
DRESHER, Pa., April 30, 2014 /PRNewswire/ -- Risk Compliance Performance Solutions LLC (RCP) has been selected by Matrix Financial Solutions, Inc., a Broadridge Financial Solutions, Inc. company, as its preferred provider of uncashed check mitigation services for its qualified retirement plan clients, including 403(b) plans.
Matrix, including its subsidiary MG Trust Company, LLC, is a leading provider of products and services to the financial services industry, including mutual fund trade processing, trust, custody and disbursement services. Using its flagship PLANSCAPESM and OUTREACHSM solutions, RCP will search for and communicate with lost or missing plan participants about their uncashed retirement checks and help reunite them with their assets. RCP Solutions' Retirement Plan Management Services Division is a leader in ERISA Plan compliance and termination advisory services.
"We are delighted that Matrix and MG Trust have selected us for the job of helping their clients manage their responsibilities when it comes to uncashed benefit checks," said Mark Sweatman, President of RCP Solutions' Retirement Plan Management Services division. "By creating seamless, integrated solutions, RCP and MG Trust will streamline participant location and outreach processes, confirm ownership and re-issue checks on a regular basis to address these ongoing issues, while reducing the administrative burden to the plan sponsor of meeting these obligations."
"We are pleased to work with RCP to provide our clients a comprehensive solution to a growing problem," said Suzanne Walters, Senior Vice President of MG Trust. "RCP has proven best practices to help our clients mitigate their liabilities by locating their missing participants and stale dated check owners, getting them to take action and reuniting them with the benefits they are due -- all in a one-stop solution."
RCP's Retirement Plan Management Services division helps plan sponsors, record keepers and custodians mitigate risks such as missing participants in active, frozen, closed and terminating defined contribution and defined benefit plans. Other services include defined contribution plan termination management, uncashed check mitigation strategies, including distribution and treasury management, as well as custom plan data analysis and outreach solutions.
About RCP Solutions
Risk Compliance Performance (RCP) Solutions specializes in risk management, compliance, communications and outreach programs that drive performance and positively impact the bottom line. It is a women-owned business and the executive team has more than 100 years of combined experience in a variety of industries and disciplines bringing a wealth of knowledge, excellence and innovation to all of its services. Driven by state-of-the-art technology solutions, RCP integrates the many facets of business, risk, compliance and management to achieve the best results for clients. For more information, please visit www.rcp-solutions.com.
About Matrix Financial Solutions
Matrix Financial Solutions, Inc., a subsidiary of Broadridge Financial Solutions, Inc., is a leading provider of TrueOpen™ retirement products and services for third party administrators, financial advisors, banks and other financial professionals. Matrix serves more than 300 financial institutions with over $220 billion in customer assets processed through its trading platform. MG Trust Company, LLC is a Colorado state-chartered trust company with over 40 years of trust and fiduciary experience on its management team. MG Trust Company, LLC provides trust, custody, and cash agent services for over 86,000 accounts; 46,000 qualified plan accounts, as well as over 39,000 individual 403(b), IRA and other wealth management accounts, with assets of over $43 billion. For more information about Matrix please visit matrix.broadridge.com.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and business process outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,400 full-time associates in 13 countries. For more information about Broadridge, please visit www.broadridge.com.
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SOURCE RCP Solutions
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