Mid Atlantic Announces IRA Alliance
Dec 14, 2010, 08:30 ET
PITTSBURGH, Dec. 14, 2010 /PRNewswire/ -- Counsel Trust Company, dba Mid Atlantic Trust Company (MATC), a Pennsylvania-based provider of custody and trustee services for retirement plan providers and investment advisors, announced today its latest service enhancement, Total IRA Plus, provided by Inspira. MATC worked with Inspira to create an IRA capture solution that enables clients to enter the automatic and voluntary rollover business seamlessly and quickly, resulting in enhanced revenue and profits.
"We've integrated with Inspira to the point where all automatic and voluntary rollovers can be accomplished for our clients almost seamlessly," said Tim Friday, Group CEO of Mid Atlantic Capital Group (MACG) and officer of MATC. "Asset transfers between the plan and the IRA solution are accomplished internally and efficiently, and participant data files can be easily uploaded via Inspira's web interface."
With Total IRA Plus, plan participants looking to rollover 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. 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 7 days a week.
"Many of our qualified plan record keepers 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 Friday. "With this solution, record keepers 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."
About Mid Atlantic Trust Company: MATC provides comprehensive trust and custody services to third party record keepers, bank trust departments, and insurance companies.
About Inspira: Based in Pittsburgh, PA, Inspira provides automatic and self-directed IRA technology solutions for Financial Advisors, Plan Sponsors, Third Party Administrators, Bankruptcy Professionals and Affinity Groups.
Mr. Brian Lenz or Mr. Lee Jones at 1-800-693-7800 to discuss this unique technology solution for IRA rollovers. Or e-mail them at [email protected] or [email protected].
Securities offered through Mid Atlantic Capital Corporation, member FINRA/SIPC. Advisory services offered through Mid Atlantic Financial Management, Inc., a registered investment adviser. Trust services offered through Counsel Trust Company, dba Mid Atlantic Trust Company. Mid Atlantic Capital Corporation and Mid Atlantic Trust Company are independently owned and operated.
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