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Upcoming Release of the New Fiduciary Investment Advice Rule

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The Department of Labor is on the verge of unveiling a forthcoming “Retirement Security” rule. This rule represents a fresh set of regulations aimed at clarifying the circumstances under which non-discretionary investment recommendations by advisors to retirement plans, plan participants, and IRA owners will trigger fiduciary status under ERISA and the Internal Revenue Code.

When an advisor is classified as a fiduciary, they must adhere to rigorous standards of prudence and loyalty. Furthermore, ERISA mandates that fiduciaries abstain from participating in certain “prohibited transactions” that could potentially create conflicts of interest between the fiduciary and the investor. Such conflicts can arise when a fiduciary can boost their compensation by suggesting investments with higher fees or advocating for an IRA rollover.

Over the past decade, the Department of Labor has made multiple efforts to expand the range of advisory services covered by the fiduciary definition to ensure that advice always serves the best interests of retirement savers, including recommendations regarding IRA rollovers. Previous versions of the DOL’s revised ERISA 3(21) fiduciary rule and its interpretation of the “regular basis” component in Prohibited Transaction Exemption (PTE) 2020-02 have been legally contested by industry stakeholders and subsequently invalidated.

Once the new proposed rule is officially published, the Department of Labor will seek input from the industry and conduct hearings before moving forward to finalize the new fiduciary rule by the next summer. The timing is crucial for the DOL to safeguard the final rule from potential repeal if there is a change in the presidential administration following the 2024 election.

While the exact approach adopted by the DOL remains uncertain until the proposal is released and thoroughly assessed, it is anticipated that one-time IRA rollover recommendations will be incorporated into the definition of fiduciary investment advice.

As always, IRALOGIX continues to vigilantly monitor this regulation, and our platform and procedures will persist in assisting our clients in navigating these regulatory requirements with minimal disruptions to their operations.  We will provide further updates in the months ahead.

NEW SURVEY PAINTS HARROWING PICTURE OF U.S. WOMEN’S ROAD TO RETIREMENT

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NEW SURVEY PAINTS HARROWING PICTURE OF U.S. WOMEN’S ROAD TO RETIREMENT

_______________________________________ 

Social Security Seen By Many as Retirement’s “White Knight” 

Retirement Accounts Prematurely Drained to Meet Expenses 

Trump, Kennedy 2024 Get Tepid Thumbs-Up from Women, But Most “Not Interested”
in Any Potential Presidential Hopeful Regardless of Party

Pittsburgh, PA, September 12, 2023 – A new survey reveals a bleak outlook for the retirement prospects of countless American working women, with many saying retirement is completely off the table as financial necessity is compelling them to continue working during what under normal circumstances would be their retirement years. The “Women’s Road to Retirement” survey was commissioned by IRALOGIX, a retirement industry fintech provider, and took place late July through late August 2023.

“Given what we already know about Americans’ retirement readiness, we hypothesized the survey’s results would point to women being largely unprepared for retirement, reflecting the general trends of low savings and diminished confidence that retirement savings will last as long as needed,” said Lowell Smith, IRALOGIX co-founder and a noted authority on retirement issues. “What we weren’t expecting was the gravity of the situation. As many as seven in every ten women surveyed were certain their savings won’t last the length of their retirement, driving almost half of the respondents to consider relinquishing their independence and moving in with family members to save on expenses.”

Key Findings

  • 71% of women surveyed will outlive their retirement savings.
    • 48% will deplete their savings between four and seven years into retirement.
    • 30% only have enough money to last between one and three years.
    • 7% have sufficient savings to last their entire retirement, no matter how long it may be.
  • 60% had to “frequently choose” between covering essential expenses and putting money into their retirement savings.
  • 55% are relying on Social Security to help fund their retirement.
    • 50% of those depending on Social Security require 41% to 60%-plus of their total retirement income (excluding any government financial assistance) from Social Security to make ends meet.
  • 53% have to work in retirement out of financial need.
    • Other reasons include personal fulfillment; staying mentally active; healthcare benefits; and social interaction.
  • 53% don’t have a backup plan if their retirement savings fall short of expectations.
  • 49% are considering moving in with their adult children/family members to save on retirement expenses.
  • 44% pointed to the high cost of living as the primary challenge to saving more for retirement.
  • 28% blame themselves for not having started saving sooner.
  • Other reasons include healthcare costs and medical expenses; lack of access to employer-sponsored retirement plans; and career breaks for childcare or caring for aging family members.

Other Takeaways

  • Weighing in on the road to the White House, 21% of women who consider themselves Republican tapped Donald Trump as their pick, with Ron DeSantis in second place at 12%. In what may be a harbinger of things to come on election day, 47% cited “none of the above” when given the choice of presidential hopefuls, Donald Trump; Ron DeSantis; Nikki Haley; Mike Pence; Tim Scott; and Chris Christie.

    With 17%, Robert F. Kennedy, Jr., garnered the most Democratic nods from the survey’s respondents, closely followed by Bernie Sanders at 16%, from a list comprising Kamala Harris; Pete Buttigieg; Robert F. Kennedy, Jr.; J.B. Pritzker; Bernie Sanders; and Amy Klobuchar. 41% of Democratic women selected “none of the above” in response to the question.

  • 59% don’t know how much money they’ll need in retirement, don’t have a plan to put aside any retirement money, or are struggling to live on their current income so they can’t think about retirement savings.
  • Asked what advice they’d give their younger self/younger women about saving for retirement 54% said “start saving much earlier.” Other advice included:
    • Set realistic and achievable retirement savings goals and maintain them; when looking for a new job, ensure the company offers good retirement benefits and make the most of them; and seek out experts to help educate you about saving for retirement.
  • Some out-of-“left field” guidance included “work just to live in the present and enjoy yourself – don’t worry about retirement,” followed by “don’t bother saving for retirement, it’s an outdated concept and most people can’t afford to retire comfortably anyway.”
  • 43% are unprepared for the impact financial emergencies, like a job loss or medical expense, could have on their retirement savings.
  • When asked to rate on a 1-10 scale, with 10 being the best possible outcome, the quality of their retirement life compared to when they were working, 35% of responses fell between #1 and #4. Just 3% chose #10, indicating a quality of retirement life comparable with their working years.
  • Once retired, 35% won’t be able to meet debts accrued during their working years.
  • 34% don’t have access to an employer-sponsored retirement plan.
  • 34% would consider guaranteeing some of their retirement savings so they don’t outlive their money, with 48% of those saying they’d guarantee 20%.
  • 29% said they’ll just “wing it” when it comes to future pressures on their retirement savings like supporting aging parents or contributing to a child’s/grandchild’s education.
  • 22% emptied their employer-sponsored retirement account to meet non-retirement expenses.

“Compared to women from many other countries, countless American working women are being denied viable, dignified retirements for a variety of reasons highlighted by the survey, with some of these being fixable in the short- and medium-term,” notes Smith. “It’s incumbent on us in the financial industry to do a better job of reaching women as early as possible in their careers with education and guidance specifically geared to women instead of today’s one-size-fits-all approach. “And, employers need to ensure their employees have access to a corporate retirement plan so that future generations of women won’t have to trudge this same difficult, disappointing path.”

Methodology

The survey of 228 respondents was conducted online from late July through late August 2023 on behalf of IRALOGIX. Respondents were drawn from a national sample of women ages 30-60 with household incomes of $0 – $200,000 plus. To schedule an interview, or for questions about the survey, please contact Scott Sunshine. 

About IRALOGIX™

IRALOGIX is redefining the $13 trillion IRA marketplace through its industry-leading technology-enabled, fully paperless, white-label IRA record-keeping and technology solutions. The company’s proprietary technology solutions enable any financial institution to easily customize its IRA offering and compete effectively in all segments of the IRA market, regardless of account size. Through modular technology, institutional clients have the choice to use their internal investment or advisory capabilities or select from key industry-leading providers. IRALOGIX complements your market strategy, streamlines your IRA service options, and helps you expand your business across all segments of the industry, profitably. For more information, please visit www.iralogix.com.

IRALOGIX URGES CONGRESS TO PROTECT INTERESTS OF LOW-INCOME RETIREMENT SAVERS

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IRALOGIX URGES CONGRESS TO PROTECT INTERESTS OF LOW-INCOME RETIREMENT SAVERS

_______________________________________

Legislation is Required to Help Those Who Need it Most to Save for Retirement

State-Mandated Retirement Plans Benefit Low-Income Workers, but an Even Playing Field is Required

 

Pittsburgh, PA, July 25, 2023 – IRALOGIX, a leading innovator in financial technology advancements that harnesses the power of its proprietary technology to offer IRA-focused retirement solutions to every segment of the wealth management industry, regardless of account size or type, today called on Congress to better serve the needs of low-income retirement savers.

According to the 2023 Retirement Confidence Survey conducted by the Employee Benefit Research Institute (EBRI) and Greenwald Research, workers and retirees who have the lowest incomes (less than $35,000) and savings (less than $10,000) and have a major problem with debt are more likely to agree that retirement savings are not a priority.

“While we applaud Congress for its efforts in enacting legislation aimed at enhancing retirement savings, the inescapable conclusion is it doesn’t go far enough, particularly for one of the most underserved groups, low-income workers,” said Lowell Smith, Co-founder of IRALOGIX. “Further legislative action is required to protect these workers’ retirement savings from being used for expenses other than retirement.”

Smith points to the need to enact restrictions on when accountholders can take distributions from retirement accounts. With individuals changing jobs every 3 to 4 years, each job change results in an opportunity to withdraw funds from an account and spend it, putting accountholders further behind in their retirement savings.

“We need restraints that withdrawals before 59 ½ are only permitted for hardship reasons or exceptions to the 10% early withdrawal provisions,” he says.

Additionally, all distributions from an IRA should be allowed to be paid back over time. There are several instances currently where funds can be paid back over time. It only makes sense to allow all distributions to be paid back.

Recently, Pension Portability was enacted to encourage workers who would have been automatically rolled over to an IRA by a former employer to automatically move the account to a new employer plan. This type of measure is beneficial because the original Automatic IRA Rollover Legislation enabled these rollovers to IRAs to become a dumping ground because of the limited investment options available and the lack of a requirement that the IRA programs that the accounts go into provide adequate diversification options.

The only investment options were money markets, CDs, savings accounts, and general accounts, all of which have historically had low returns.  In addition, often the returns aren’t enough to cover annual accountholder fees, much less meeting retirement growth needs when taking into account inflation rates.

Either Congress or the Department of Labor should enable rollovers to go into the same type of default funds that are available in automatic enrollment programs in plans like target date funds, balanced funds, and age-based portfolios and make the programs offer a diversification option as part of the IRA defaulted into.

State-Mandated Retirement Plans: One of These Things is Not Like the Other

Recent legislation required small businesses to provide retirement benefits to their employees. Some 30 states have considered requiring state-mandated retirement plans, but only 15 currently have signed these programs into law.

While this legislation should go a long way to help narrow the multi-trillion retirement savings gap in the US and help workers whose employers don’t offer retirement benefits play catch-up, current state-mandated retirement benefits are primarily up to each state.

“Federal intervention is needed to create one unified mandate to help businesses and service providers better meet state-mandated requirements,” says Smith. “In many cases, it’s low-income workers who have been underserved in the retirement benefits arena, and an even playing field would be beneficial to ensure every participant nationwide is treated equally.”

About IRALOGIX™

IRALOGIX is redefining the $13 trillion IRA marketplace through its proprietary, industry-defining technology platform. Through this, IRA account holders, regardless of account size, can benefit from an investment approach previously available only to the largest institutional investors. Financial intermediaries who outsource their IRA business to IRALOGIX’s white-label program can drive added revenues and profitability, simultaneously passing cost savings on to their clients. For more information, visit IRALOGIX.com.

IRALOGIX Adds Two Senior Industry Experts to Leadership Team as It Continues to Revolutionize the IRA Landscape

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IRALOGIX Welcomes Christine Skatchke as Chief Operating Officer; James Liberi Joins as Senior Director – Business Development and Strategic Partnerships

Pittsburgh, PA, May 9, 2023 – IRALOGIX, a leading innovator in financial technology advancements that harnesses the power of its proprietary technology to offer IRA-focused retirement solutions access to institutional investments and leading advice services to every segment of the wealth management industry, regardless of account size or type, today announced the addition of two industry leaders to continue its rapid acceleration and continued expansion throughout the industry.

Christine Skatchke joins IRALOGIX as Chief Operating Officer and James Liberi comes aboard as Senior Director – Business Development and Strategic Partnerships, a new position.

Before joining IRALOGIX, Christine Skatchke held senior positions at Wells Fargo, KPMG, William Mercer, and Watson Wyatt. In these positions, she helped develop recordkeeping and defined benefit administration systems, resulting in cost efficiencies and reduced risk. She has presented at a variety of industry conferences and events and continues to share her thought leadership and industry expertise for the benefit of all those working to improve outcomes for all retirement investors, regardless of account size.

“Christine brings significant operational, technology, and project management experience to this role,” said David Bernard, Chief Executive Officer of IRALOGIX. “Her leadership abilities, organizational skills, and commitment to excellence will serve our clients well as we continue to provide technology and product solutions designed to transform the industry.”

Immediately before joining IRALOGIX, James Liberi spent more than eight years at vWise, Inc., a provider of enterprise technology products and solutions, eventually rising to the position of Chief Revenue Officer. Previously, he worked for the Bancorp where he was Head of Sales and Distribution for the Institutional Banking Group. Liberi currently serves as a SPARK Board Member and is a member of NAPA.

“James comes to us with a history of great success in the financial services industry, having built and led scalable businesses in banking, asset management, advisory, and fintech,” said Bernard. “Throughout his career, he has been focused on providing hands-on leadership in the development of strategy, sales, business development, product, and marketing designed to help organizations optimize growth, quickly and profitably.”

About IRALOGIX™

IRALOGIX is redefining the $13 trillion IRA marketplace through its proprietary, industry-defining technology platform. Through this, IRA account holders, regardless of account size, can benefit from an investment approach previously available only to the largest institutional investors. Financial intermediaries who outsource their IRA business to IRALOGIX’s white-label program can drive added revenues and profitability, simultaneously passing cost savings on to their clients. For more information, visit IRALOGIX.com.

New Slavic401k and IRALOGIX™ Partnership Delivers a Next-Generation IRA Solution to Accountholders with No Minimum Balance Requirement

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NEWS PROVIDED BY

Slavic401k 

Mar 08, 2023, 10:13 ET

 

Complete Offering Positions Accountholders to Better Achieve Retirement Readiness, Including Access to Institutional Investment Options and Important Guidance

BOCA RATON, Fla., March 8, 2023 /PRNewswire/ — Slavic401k, a leading provider of business retirement savings solutions for over 35 years announced its partnership with IRALOGIX™ to provide their clients with access to an integrated IRA rollover solution as a complement to their existing 401(k) platform. The product addition provides a valuable option for the individual 401(k) investor as they navigate their savings journey throughout their career.

“At Slavic401k, we recognize the growing needs of our investors, whether it’s having a rollover option as employment dynamics change or taking advantage of additional tax advantage accounts as they build their retirement nest egg,” says John Slavic, founder and chief executive officer at Slavic401k. He adds, “Working with IRALOGIX allows us to go to market with a seamless IRA solution through their proprietary, next-generation platform, strengthening our value proposition for employers seeking an additional retirement savings solution for their employee benefits offering.”

“IRALOGX was founded on the principle that all American workers deserve access to an affordable retirement,” stated Pete Littlejohn, co-founder, IRALOGIX. “Our solution is uniquely positioned to deliver high-net-worth-style services and investment options to every IRA accountholder, regardless of account balance.”

Mr. Littlejohn added, “We are proud to partner with Slavic401k in this endeavor, helping their accountholders attain the retirement readiness they desire. At IRALOGIX, we believe that doing the right thing in the right way helps everyone, including the Slavic partnership, their plan sponsors, and ultimately, their accountholders. Leveling the playing field between small to medium-sized account balances and large account balances, this program is uniquely positioned to make a huge difference for hard-working Americans.”

About Slavic 401K

Slavic401k provides retirement savings solutions for small businesses. Established more than 35 years ago by CEO John Slavic, they specialize in providing a cost-efficient 401(k) administration platform that’s custom-tailored to meet the unique needs of Professional Employer Organizations (PEOs), associations, service bureaus, financial advisors, and their small business clients. For more information, please visit Slavic401k.com.

About IRALOGIX™

IRALOGIX is redefining the wealth management industry by making investing more efficient using advanced technology and access to institutional investment options regardless of an investor’s account size or type. IRALOGIX maximizes your market strategy, streamlines your IRA service options, and expands your business reach across all areas of the industry, profitably, while providing better financial outcomes for people investing in their future. For more information, please visit www.iralogix.com.

SOURCE Slavic401k

 

IRALOGIX Brief SECURE 2.0 Act – Brief 1

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This is the first in a series of articles covering the IRA provisions in the SECURE 2.0 Act of 2022, which was passed as part of the federal year-end spending Bill. This initial overview will be followed by more in-depth pieces on the provisions outlined below.

The $1.65 trillion spending bill signed into law by President Biden on December 29, 2022, included a section that significantly affects retirement savers, IRAs, and retirement plans. This section is named SECURE 2.0 (the Act) because its requirements build upon the enhancements made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed in 2019. SECURE 2.0 is a strongly bi-partisan compilation of several pieces of legislation that enhance retirement savings opportunities for individuals, encourage small employers to adopt retirement plans for their employees, and simplify compliance with current retirement plan rules. This initial article focuses on provisions of the new law affecting Individual Retirement Accounts (IRAs).

The law changes that directly affect organizations offering IRAs, as well as the individuals who own those accounts, include the following:

  • Increase in RMD Starting Age: Currently, accountholders must begin taking annual required minimum distributions (RMDs) for the year in which they reach age 72. The RMD starting age will increase to 73 for those who had not reached age 72 by the end of 2022 – starting in 2023. (The RMD age will increase to 75 in 2033.)
  • SEP and SIMPLE Roth Contributions: Employees may elect Roth treatment for both employee and employer contributions – starting in 2023.
  • Automatic IRA Rollover Eligibility: Currently, if a former employee with a vested account balance under $5,000 fails to provide distribution instructions to the plan sponsor, the plan sponsor may establish an IRA for the benefit of that participant and roll over the account balance to that IRA. With the new regulation, the automatic rollover cap triggering eligibility increases to $7,000 – effective for cash-out distributions starting in 2024.
  • IRA Catch–Up Contribution Limit: The IRA catch-up contribution limit for accountholders age 50 and older – currently $1,000 per year – will be indexed for inflation – starting in 2024.
  • Rollover of Excess 529 Assets to a Roth IRA: The beneficiary of a 529 account will be eligible to roll over assets from a 529 account to a Roth IRA if the account has been open for at least 15 years. The rollover is limited to the Roth IRA contribution ceiling in effect for the year. Rollovers from a 529 plan to a Roth IRA are subject to a lifetime limit of $35,000 – starting in 2024.
  • Nonelective Contributions Permitted in SIMPLE IRA Plans: Employers may make a nonelective (discretionary) contribution of up to 10% of a participant’s compensation, not to exceed $5,000, to the participant’s SIMPLE IRA – starting in 2024.
  • Student Loan Matches to SIMPLE IRAs: Employers may consider an employee’s qualified student loan payments as deferrals for purposes of making matching contributions to a SIMPLE IRA – starting in 2024.
  • SIMPLE IRA Plan Contribution Limit: An employer with up to 25 employees may, but is not required to, allow SIMPLE IRA deferrals and catch-up contributions up to 110% of the statutory limit in effect for that year. Employers with 26-100 employees may apply the increased limits only if the employer provides a 4% matching contribution or a 3% nonelective contribution – starting in 2024.
  • Termination of SIMPLE IRA Plan Mid-Year: An employer will be able to terminate a SIMPLE IRA mid-year if the employer adopts a Safe Harbor 401(k) plan – starting in 2024.
  • Increase in SIMPLE IRA Plan Catch-Up Contribution: Employees participating in a SIMPLE IRA plan at ages 60, 61, 62, or 63 are permitted to make a catch-up contribution up to the greater of $5,000 or 50% higher than the SIMPLE catch-up contribution limit in effect for that year. This dollar amount will be indexed for inflation – starting in 2025.

In addition to new features and savings enhancements, the Act also made some compliance changes to render corrections less onerous on the accountholders, including the following:

  • Correcting IRA Violations: By the end of 2024, the IRS must expand its Employee Plans Compliance Resolution System (EPCRS) to apply to inadvertent IRA errors.
  • Prohibited Transactions in IRAs: The new law clarifies that, if an accountholder owns multiple IRAs and one of their IRAs includes a prohibited transaction, only the IRA involved will be disqualified. (Note that the IRA industry has historically applied this interpretation, but now the statutory language is clear.) – starting in 2023
  • Modification to IRA Making 72(t) Payments: Currently, an accountholder who is taking payments under a substantially equal periodic payment arrangement (referred to as 72(t) payments) cannot take other assets out of that The new law enables accountholders to roll over or transfer from that IRA if the receiving plan or IRA continues to make the required 72(t) payments – starting in 2024.
  • Reduced RMD Failure Penalty: Currently, an accountholder who fails to take an RMD is subject to a 50% excise tax on the amount not Beginning in the 2023 tax year, that failure is reduced to 25% and if taken within 2 years of the failure is reduced to 10%.

In addition to these IRA provisions, the Act includes more than 75 other provisions affecting employer-sponsored retirement plans.

As with all new legislation, the regulatory agencies will need to create guidance to help employers, retirement savers, and service providers interpret and comply with this new law. In the meantime, questions are already surfacing regarding these changes. For example:

  • Will SIMPLE IRAs be able to incorporate Roth contributions in 2023 when plan information was required to be provided to participants prior to the start of the plan year? How will SIMPLE IRA participants elect to treat contributions as Roth?
  • Will SIMPLE IRA plans and SIMPLE IRAs established with IRS model documents need to be revised to allow for Roth contributions in 2023 for Roth to be incorporated in 2023?
  • Do plans with Automatic IRA Rollover provisions need to amend the plan for the new limits before applying them; and would the plan sponsor agreements used to establish these arrangements with a custodian need to be changed?

Upcoming articles in the IRALOGIX Briefing series will address these and other SECURE 2.0 details and requirements for IRAs as well as provide guidance pertaining to outstanding questions, implementation of these changes, and compliance with the new regulations.

For more information about how your organization and accountholders can benefit from IRALOGIX’s guidance, email sales@iralogix.com.

Authored by:

Lowell M. Smith, Jr., Co-Founder and Chief Compliance Officer at IRALOGIX, Inc. Lowell is a nationally recognized expert on retirement financial services with proven experience in creating, leading, and running innovative, technology-focused organizations that changed the retirement services landscape.

Anissa Langhorst, Managing Editor, Sr. Consultant at Integrated Retirement, a division of IRALOGIX, Inc. Since 2001, Anissa has provided consulting services and guidance about retirement plans and IRA legislation and regulations, meeting institutional business and compliance needs in the industry.

IRALOGIX Adds $22M in Series C Funding to Accelerate FinTech Sector Growth

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The growth capital will help IRALOGIX accelerate its product roadmap and expand its groundbreaking proprietary recordkeeping and technology solutions for Institutional Retirement, IRA, 401(k), and Wealth Management companies.

 

Pittsburgh, PA. – July 13, 2022 – IRALOGIX announced today that it raised $22M of new funding. The funding will enable IRALOGIX to expand their rapid growth, speed development of new platform features, increase its sales efforts and continue to drive an annual growth rate of over 100%, as it has done for the past three years.

 

The financing was led by a group of individual financial technology investors represented by Matt Vettel and Nick Cayer, along with participation from Hybrid Capital, Roan Capital, University Growth Fund, Trog Hawley Capital, Circadian Ventures, Great North Ventures, and Riverfront Ventures.  As part of the financing round, Peter de Silva, previously President of TD Ameritrade’s Retail division, President of Scottrade’s Investment Management and President/COO of UMB Financial Corporation., will be joining the IRALOGIX Board of Directors.

 

David Bernard, IRALOGIX’s Chairman and CEO, said “the added funding will help us expand faster and serve an even greater number of leading financial services companies more effectively than ever before. This capital raise is a testament to our mission to drive real change across the industry and having Peter de Silva lend his extensive expertise to our Board will help accelerate IRALOGIX to the next level.”

 

IRALOGIX Co-Founder and CSO, Joe Hipsky, added “We are driving real change throughout the retirement industry for the benefit of our clients and their accountholders alike, where everyone wins. With these great additions to the team, we can continue to accelerate our current growth in the IRA market and expand our plans to apply the power of our platform to several additional areas that would benefit from modernization.”

 

Peter de Silva commented, “IRALOGIX has a differentiated product solution that is getting strong traction within the market. We believe the business is well positioned to take advantage of the market dynamics and I am excited to leverage my experience to help the IRALOGIX team continue its growth trajectory.”

 

With the overall US retirement market surpassing $39 trillion in 2021, IRALOGIX has emerged as the leading financial technology platform to help record keepers, advisors, mutual funds, and other financial services firms reduce their costs, and grow their business profitably, while making the highest quality, institutional investment products available to everyone regardless of account size or type.

 

About IRALOGIX

IRALOGIX is an industry-leading provider of technology-enabled, fully paperless, white label IRA record keeping and technology solutions. The company’s proprietary technology solutions enable any financial institution to easily customize their IRA offering and compete effectively in all segments of the IRA market. Through modular technology, institutional clients have the choice to use their internal investment or advisory capabilities or select from key industry leading providers. IRALOGIX complements your market strategy, streamlines your IRA service options, and helps you expand your business across all areas of the industry, profitably. For more information, please visit www.iralogix.com.

JULY Introduces JULY IRA to Support Participant Rollovers

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JULY Introduces JULY IRA to Support Participant Rollovers

The JULY IRA helps participants with their savings goals keeping their monies invested for the future.

 

Waco, Texas, March 30, 2022 – July Business Services (JULY) announces JULY IRA (JULY IRA), an integrated IRA rollover solution designed specifically for small accounts from retirement plans.  The program is powered by IRALOGIX (IRALOGIX), a firm specializing in supporting institutional partners with white label solutions.

“Keeping participant accounts invested is so important to our mission of enriching lives by shaping the future of retirement,” says Michelle LeCates, VP of Institutional Relationships/Products and Marketing. “IRALOGIX is a great partner from inception to production, and together we’ve created a remarkable solution that is easy to understand and offers a great investment lineup.”

JULY IRA is a comprehensive IRA solution with an institutionally priced core fund line-up managed by Expand Financial, LLC (EXPAND), and access to online advice. Retirement plan sponsors seeking to keep costs down will benefit from JULY IRA by eliminating small account balances owned by terminated participants.

JULY and IRALOGIX have built an automated solution to exchange data and setup new accounts continuously throughout the year.  Participants receive easy to understand communications and have access to a new website for more details.

“IRALOGIX was designed to help recordkeepers run their businesses more efficiently by providing smaller balance accounts an institutional IRA solution, as they leave the employer’s plan,” says Pete Littlejohn, Chief Revenue Officer, at IRALOGIX. “We are certainly pleased to be working with JULY as they are one of the top retirement providers in the industry.  JULY’s reputation for building strong relationships throughout the retirement industry by delivering high levels of service and embracing innovation makes this a perfect fit between our firms.  Doing the right thing by helping everyone achieve their retirement goals, regardless of account sizes, makes our relationship with JULY truly something special.”

About JULY:

JULY is a 401(k) services company specializing in hi-touch, tech-enabled retirement plan services. Our employees have served as plan experts to advisory firms and employers in the small and micro 401(k) plan market for over 25 years. Over the last decade, our in-house software development team has built a host of proprietary technology solutions to streamline, automate and simplify all facets of retirement planning to make processes rewarding and easy for our clients. For more information about JULY, visit www.julyservices.com.

 

About EXPAND:

EXPAND is a Registered Investment Advisory Firm that specializes in supporting advisors, broker dealers, recordkeepers, and other financial institutions in their effort to serve the 401(k) plan market.  EXPAND’s flexible service model supports all types of advisors and institutions, including those that offer 401(k) as a core part of their business and firms where 401(k) is a secondary part of what they do.  Whether serving as a direct plan fiduciary or in a back-office capacity, EXPAND brings expertise and proprietary technology to the 401(k) investment management process.  For more information about EXPAND, visit www.expandfinancial.com.

 

About IRALOGIX:

IRALOGIX is an industry-leading provider of technology-enabled, fully paperless, white label IRA recordkeeping and technology solutions. The company’s proprietary technology solutions enable any financial institution to easily customize their IRA offering and compete effectively in all segments of the IRA market. Through IRALOGIX’s proprietary cloud-based technology, institutional clients have the choice to use their internal investment or advisory capabilities or select from several industry leading providers. IRALOGIX can complement your market strategy, streamline your IRA service options, and help you expand your business. For more information, please visit www.iralogix.com.

 

IRALOGIX and The Retirement Learning Center

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Ink Long-Term Co-Marketing Partnership

Pittsburgh, PA, March 1, 2022 – IRALOGIX, a leading provider of cloud-based technology to enable institutional partners to rapidly offer a hands-on, engagement-focused IRA program to their clients today announced its partnership with The Retirement Learning Center, an industry leader in ERISA and IRA training and consulting services to over 41,000 financial professionals The Retirement Learning Center will provide educational content and accredited courses to IRALOGIX customers.

“IRALOGIX, was designed to help recordkeepers, advisors, banks and wealth providers in general service their clients of all sizes in order to provide them a better path to retirement. Aligning our efforts with The Retirement Learning Center helps with that mission” said Peter Littlejohn, Chief Revenue Officer at IRALOGIX. “As the premier thought leader in the industry, The Retirement Learning Center has provided incredible services to the retirement industry for many years, and we are excited to align with such a deep and knowledgeable team. Bringing real change and services to everyone seeking a better retirement is what Main Street needs. Working together provides for an all-star approach and we could not be more thrilled to be part of this team.”

“IRALOGIX provides cutting-edge, white-labeled IRA programs that leverage institutionally-priced investments, coupled with professional advice and education. This offering is the “killer app” for advisors and their firms as they navigate the new rollover reality.” Said John Carl, President and Founder of The Retirement Learning Center. “Having IRALogix as a partner with their superior FinTech acumen and in-depth knowledge of the inner workings of the retirement industry will transform how we operate as a consulting and training organization. This partnership brings immense scale and efficiency to both thriving companies.

About IRALOGIX

IRALOGIX is an industry-leading provider of technology-enabled, fully paperless, white label IRA recordkeeping and technology solutions. The company’s technology solutions enable any financial institution to easily customize their IRA offering and compete effectively in all segments of the IRA market. Through IRALOGIX’s cloud-based technology, institutional clients have the choice to use their internal investment or advisory capabilities or select from a number of industry leading providers. IRALOGIX can complement your market strategy, streamline your IRA service options, and help you expand your business. For more information, please visit www.iralogix.com.

About The Retirement Learning Center

The Retirement Learning Center offers business building ERISA and IRA consulting services to the financial services industry. With over 180 years of combined retirement industry experience among their consultants, the Retirement Learning Center has helped over 41,000 financial professionals provide expert guidance to their clients. For more information, please visit

www.retirementlc.com

● Media Contact:
● Lisa Salinas
● lisa@retaliate1st.com
● Phone 727.643.8910

vWise partners with IRALOGIX to enable rapid deployment of IRA solutions

Posted on by iralogixdev

IRALOGIX, the leading cloud-based IRA provider, is now available on the vWise Experience Platform
Aliso Viejo,

Aliso Viejo, Calif. – vWise, Inc. (vWise), a leading provider of technology solutions for the retirement industry, today announced its partnership with IRALOGIX, a leading provider of cloud-based technology enabling institutional partners to offer IRA solutions to all investors regardless of account size. Providers using vWise will be given the opportunity to quickly launch a profitable white label IRA solution that leverages the same types of institutional investments found in employer plans, along with professional advice and more. “We are excited to have IRALOGIX as part of our platform and as a client. This partnership will give vWise the ability to offer the most advanced technology-forward IRA account services to our clients and their Advisors. The new offering will include both force-outs and voluntary IRA account capabilities,” said James Liberi, CRO of vWise. “Their best-in-class IRA solutions, combined with our ability to optimize participant outcomes through personalization, will forward both companies’ mission to bring better retirement options and outcomes to the American worker.” “At IRALOGIX, we are dedicated to helping recordkeepers and their Advisors provide the latest advancements in IRAs and servicing technology to everyone saving for retirement, and our partnership with vWise is a great example of how teaming up with experts in the industry helps our ongoing efforts to fulfill that mission,” said Peter Littlejohn. “The work that vWise is doing with its clients around building trusted relationships with participants and using data to drive better outcomes is instrumental in accelerating widespread accessibility to IRALOGIX solutions through digital transformation, making this an ideal partnership.”

About vWise

vWise optimizes investor outcomes through interactive, data-enabled personalized experiences that drive informed decision- making. Utilizing the way today’s investors consume content, the vWise Experience Platform enables asset managers and financial service providers to efficiently deliver personalized digital experiences to complement existing sales and marketing efforts. For more information, visit vWise at www.vWise.com.

 

About IRALOGIX

IRALOGIX is an industry-leading cloud-based IRA provider providing our institutional clients the ability to service all investors regardless of account size while acting in their best interest. IRALOGIX can complement your market strategy, streamline your IRA service options, and help you expand your business. For more information about IRALOGIX, please visit www.iralogix.com.