Plan Administrators Inc. (PAi), a provider of 401(k) plan administration, says its new Co-Pilot 401(k) program is a full-scope plan offering to help advisers grow their business while guiding existing clients toward a successful retirement.
Co-Pilot 401(k) is designed as an end-to-end plan administration solution that will help advisers expand their retirement practice while managing their clients’ 401(k) plans. The program reduces administrative and management burdens for financial advisers, the firm says, giving them more time to focus on new business growth.
The solution integrates active recordkeeping with proactive alerts and managed accounts. PAi says the solutions will be particularly effective for micro and small advisory firms looking to grow the retirement plan portion of their businesses.
“Co-Pilot was designed with financial advisers in mind,” says Michael Kiley, founder of PAi. “Our focus is simplifying plan sales while reducing fiduciary exposure. Co-Pilot’s full-scope solution is the only 401(k) plan that combines managed accounts, participant-level advice, proactive alerts and Years of Retirement, which is a game-changing participant engagement experience.”
Specific features of the program include:
- Managed accounts with full-service investment selection and monitoring for participants;
- Plan alerts based on PAi’s proprietary active recordkeeping system, which automatically informs advisers about changing conditions, challenges and opportunities in their plans; and
- The “Years of Retirement” participant experience, which gives participants an aerial view of their savings goals and shows them how to “buy” more years of retirement without lengthy calculations.
More information about PAi’s Co-Pilot 401(k) program is available at www.pai.com, or by contacting a PAi sales rep.