FPS Group, LLC, an innovative solutions provider for retirement plan professionals, plan sponsors and participants in the 403(b) and 457(b) space, has expanded its Investment Provider Xchange (“IPX”) platform with a new product that fully supports individual retirement accounts (IRAs). The product bundles complete custody, recordkeeping, administration and portfolio maintenance of IRAs, allowing financial institutions to outsource service operations and focus on growing their business.
“Through our new product, we give many different types of financial services companies and providers, such as recordkeepers, fund companies, banks, credit unions, advisors and affinity groups, a competitive edge to streamline processes and efficiently expand their capabilities,” said Jeff Linkowski, director of sales at FPS Trust, an affiliate of FPS Group. “As a result, they can more easily focus on maintaining relationships and gathering assets.”
The same custom branding elements of the IPX platform are extended to IRA providers. “IPX has been maintaining custom portfolios of mutual funds and ETFs for advisors serving the governmental space since 2015, so if you manage assets as well as gather and service them, the same features now accommodate IRA providers,” added James Olson, managing director of FPS Group and IPX platform architect.
As with all IPX platform offerings, the new IRA can be completely paperless and benefits from a secure, cloud-based environment and the assurance that all legal, reporting and compliance requirements are met. IRAs on IPX are supported with a fully staffed call center located in FPS’ Colorado offices.
“IPX is growing steadily — fueled by a redesign in 2018 and add-ons for financial wellness and now, IRA services,” said Jamie DeRubertis, managing director of FPS Group. “With each of these additions, interest in IPX has grown along with the value to its users.”
For more information and to start using IPX, please contact Linkowski at firstname.lastname@example.org.
Investment Provider Xchange (“IPX”) is a single-source, end-to-end solution for providers in the 403(b) and 457(b) plan markets, offering the benefits of a multiple-provider approach with the simplicity of a single provider. IPX combines a technology platform for fund trading, recordkeeping and online account access with a custom plan design and consulting from a third-party administrator. Features include transaction processing for contributions, distributions and participant loans, aggregated participant data accessed via a single, robust web portal and the ability to access mutual funds and annuities on one platform. For more information, please visit www.ipxplatform.com.
About FPS Group
FPS Group, LLC develops products and services designed to offer retirement planning industry stakeholders innovative and efficient ways to streamline processes, cut costs and improve their bottom line. FPS Group offers the Investment Provider Xchange (“IPX”), providing RIAs with a renewed entry point to the 403(b) market as well as a turnkey IRA platform providing custody, recordkeeping and administration. The firm also specializes in Paying Agent Services and Automatic IRA Rollover Services, and offers custody and safekeeping, recordkeeping, tax reporting, income collection, investment of cash balances and other non-fiduciary activities. As a result, FPS clients are more efficient and can offer improved functionality and responsiveness to their clients. For more information, please visit www.fpsgroupllc.com.