Products September 1, 2009

Firm Introduces Roth Conversion Package for Advisers

Advisors Trusted Advisor now offers the Roth 2010 Conversion Package, containing marketing tools, education materials, and a Roth conversion tool.

Reported by

Advisor Trusted Advisor, a provider of practice management tools to registered investment advisers (RIAs) and wealth managers, said the package is available through the Roth 2010 Advisor Portal. The package includes: workshops for current and potential clients; PowerPoint presentations; business-building strategies and tactics; information about how financial advisers can position themselves as retirement experts; and access to the Roth IRA Conversion Optimizer.

The company said its Roth Conversion Optimizer, developed by Archimedes Systems Inc. and Convergent Retirement Plan Solutions, considers many factors, leading to a recommendation to convert anywhere from zero to 100% of traditional IRA assets to a Roth (see “Web-Based Tool Helps Advisers Perform Roth Conversion Analyses”).

Starting on January 1, taxpayers with a modified adjusted gross income of more than $100,000 will be allowed to convert a traditional IRA to a Roth IRA, the firm noted. “The advent of these new tax laws presents a unique opportunity for people in the wealth management industry to demonstrate their expertise in what will be an intricate decision,” said Michael Slemmer, principal at Advisors Trusted Advisor.

More information is available at www.advisorstrustedadvisor.com.

Products September 1, 2009

LPL Expands Services for FAs in Retirement Plan Space

LPL Financial Corporation today launched its Retirement Plus Program as part of its efforts to beef up support for retirement plan-focused independent financial advisers.

Reported by

The company said the new program, offered through the company’s recently formed Retirement Plan Consulting Group, offers an array of retirement plan products, as well as recordkeeping and plan administration services through CPI Qualified Plan Consultants, Guardian Retirement Services, ING, and The Principal Financial Group. 

LPL Financial said it chose those companies “following following extensive research, internal review, and requests for proposals from a broad spectrum of product sponsors.”

Furthermore, the Retirement Plan Consulting Group will provide advisers with additional tools, training, and technical support to help them in the retirement space, the company said.

“We are delighted to introduce our Retirement Plus Program, which represents a bold step forward in the expansion of our support and services for independent financial advisers involved in the retirement plan space,” said Bruce Harrington, senior vice president of Retirement Solutions at LPL Financial. “This is an area that we believe has significant growth potential for our advisers and our company, based on multiple demographic, industry, and regulatory trends. We are committed to providing our advisers with the tools and training they need to capitalize on these trends as experts and leaders in this space.”

LPL Financial said it has approximately $12 billion in group retirement plan assets. At the PLANADVISER National Conference last year, Kevin Keefe, SVP of Financial Planning at LPL Financial, acknowledged the firm’s intention to be a bigger player in the retirement plan space. Soon after, the company hired Harrington to lead its retirement efforts (see “Looking Ahead ” and “Harrington’s In For Retirement at LPL“).

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