Enhance Your Clients’ Tax Efficiency and Your Due Diligence Process with Tax Drag
Differentiate your wealth management firm, kickstart your due diligence process, and leverage Tax Drag to win over prospects and clients.
How Riskalyze Retirement Solutions Works
According to a recent study by the Department of Labor, 88% of all 401K plans have fewer than 100 participants, totaling more than $600 billion in assets. The emerging corporate market is ripe with opportunity: startups and growing companies want to attract good talent and having a solid retirement plan offering is a key part of their strategy. Few of them know where to start when it comes to setting up a plan for their company.
These big fish, large corporate market plans of over $50 million, are going to be key factors for advisors growing their retirement business. The problem? These big fish are being sought out by everyone else, too. Market saturation has led to severe price compression in a race to the bottom for many advisors.
If you’re tired of playing limbo (how low can you go, really), we have an alternative solution for growing your retirement business.
We know what you’re thinking. “I’m well aware of the need for plan advisors in the emerging corporate market space, but there’s just no way to scale my business around such small plans. It’s too much work.”
We teamed up with experts in the 401K space to solve this common headache. The result: an end-to-end retirement solution that not only streamlines the proposal process, plan administration, and onboarding of participants, it’s also the world’s first retirement solution centered on the Risk Number®.
So, what does “end-to-end” really mean?
How Riskalyze Retirement Solutions Works
It all starts with the proposal, and with Riskalyze Retirement Solutions, powered by Vestwell, building a competitive proposal for a plan sponsor is easier than ever.
- The platform walks you through every step, and Risk Number target models help you align participant risk with investment options that work for them.
- Comparisons allow you to clearly show the plan sponsor the advantages of working with your firm, and because all services are under one roof, pricing is clear and transparent. They see what they’re paying for and how those costs change over time.
- Select from pre-configured detail pages and personalize the proposal with a custom cover letter.
- Email your proposal directly to the plan sponsor.
- When your plan is approved, Retirement Solutions automatically sends a “getting started” link to the plan sponsor so that they can set up their dedicated 401K portal.
From there, sponsors are walked through the rest of the sign-on process. They can upload the required documentation, review plan options, and connect to payment sources all in one place. The portal becomes the sponsor’s one-stop-shop to see their plan balance, year-to-date contributions, and manage payroll settings.
When you’re ready to launch the plan, participants get an email with the employer’s logo. They click to get started and go through the risk questionnaire you already know and love to find their unique Risk Number. They’ll be matched with one of the models you designed, set their desired contribution amount, and boom—they’re done. As contributions are deposited into their account, the participant dashboard updates to show them everything they need to keep their investing goals on track.
There are no letters, PIN codes, or complicated URLs to type in, and it works beautifully on desktop or mobile.
Riskalyze Retirement Solutions removes the pain points of managing retirement plans through seamless plan design, automated onboarding, and streamlined administration. Being centered around the Risk Number means plan participants have the right expectations for how their money is invested. To top it off, competitive pricing means advisors get more for what they’re already paying. You can service a greater number of plans, no matter how many participants, and easily scale your business.
If you’re already a Riskalyze user, there’s no cost to start using Retirement Solutions to send out proposals, and our amazing partners at Vestwell have specialists ready to help you along the way. If you’re already managing 401Ks and would like more out of your investment, check out the information below. Together, we can design the right plan for employers and empower participants to invest fearlessly.
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