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401kExchange Welcomes RolloverSystems
to the Weekly Exchange Newsletter
TAKING ON
THE rollover market may seem like the quest for the Holy
Grail. Everyone understands the benefit but it’s hard to
imagine where to even begin. With new, experienced
management which took over in 2007, well heeled
investors willing to commit, and a new strategy,
RolloverSystems (RSI) seems best suited to begin the
challenge of helping advisors reach that hallowed ground
– capturing rollovers.
People are
the key to the success of any organization, especially a
budding one like RSI, followed closely by adequate
resources. With a group headed by Spencer Williams who
was most recently the SVP at MassMutual’s retirement
income and rollover group, Jim Langenwalter current CMO
and head of sales who founded SaveSimply after senior
positions at Federated, and Dan Wright, the current COO
who came from Pioneer Funds, RSI is certainly in goods
hands. Investors, which include Robert Johnson of BET
fame, seem willing to give this experienced group the
needed resources. Strategy is the next most important
ingredient and unlike their competitors, RSI seems to
have focused on the right market - advisors and
sponsors. Important partners including NRP, DailyAccess
and Alliance Benefit Group have been helpful in getting
record keepers to cooperate. RSI’s goal is to help
sponsors guide terminated employees to rollout
of their plan to save money, time and liability focusing
on the hidden costs and strain on HR departments. The
ultimate client is the advisor who needs to identify and
market to the participants in need of rollover assistance. RSI provides compliant marketing
assistance, phone support and data aggregation to
deliver to that advisor participants rolling out of a
DC plan that meets the advisor's referral profile.
Relatively
small, new companies have trouble making an impact in a
market that does not seriously consider a fund until
after fives years and a record keeper even longer, but
RSI’s senior management have close to 75 years
experience and have what appears to be very substantial
resources behind them. The only groups truly focused on
supporting advisors in the rollover market are a subset
of wire-houses with very high minimum balance
requirements. Advisors seriously interested in capturing
rollovers should consider RSI.
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