TAMPA, Fla., OCT 14, 2016—Independent Financial Partners (IFP), a registered investment adviser and a comprehensive financial advisor support firm in Tampa, Florida, is providing a new retirement readiness service to the advisors in its IFP Plan Advisors division.
Retirement Planning Insights is a tool from Financial Soundings, an Atlanta-based financial technology firm, which delivers a personalized retirement readiness report to all eligible employees in a defined contribution plan – even to ones not currently participating. All employees receive a printed report at their homes and have access to an online portal, which allows them to fully understand their level of retirement readiness and what additional steps should be taken to pursue their goals.
“IFP Plan Advisors has partnered with Financial Soundings as part of our effort to provide all of the tools and services our advisors need to improve their practices in a cost-effective way,” said IFP Plan Advisors President Kimberly Shaw Elliott. “We expect plan advisors who adopt Retirement Planning Insights will see an improvement in the health and retention rates of their plans.”
Employees will receive personalized reports that summarize their current retirement savings, along with an analysis of where they stand on the path to retirement readiness. The review includes specific action steps on their deferral rates and fund level investment advice that can be taken to help participants pursue their retirement goals.
Each participating employer also receive a comprehensive analysis of its plan. Data is parsed by a variety of categories, including age, salary band and probability of the employee achieving their retirement goals, allowing employers to measure the strength of their plans and find areas where their plans could be improved.
IFP’s advisors will have access to special pricing as a result of the firm’s agreement with Financial Soundings.
“We are thrilled to partner with an organization with the strength of IFP Plan Advisors in the retirement plan sector and we look forward to helping their clients pursue their retirement goals,” said Steve Maschino, president of Financial Soundings.
About Financial Soundings
Based in Alpharetta, Georgia, Financial Soundings is a financial technology company that has developed Retirement Planning Insights, a retirement readiness solution for the defined contribution market. Founded in 2007, the firm works with 23 different record keepers and several large advisor organizations across the country.
About Independent Financial Partners
Family-owned and privately-held since it was founded in 2000 by CEO William Hamm Jr. on the principals of independence, flexibility and collaboration, Independent Financial Partners (IFP) is a comprehensive financial advisor support firm with home/corporate offices in Tampa, Florida, and Phoenix, Arizona. It is dedicated to delivering personalized service to a growing network of more than 450 independent advisors nationwide, allowing them to better focus on the needs of their clients.
An SEC Registered Investment Adviser (RIA) and an Office of Supervisory Jurisdiction (OSJ), IFP works directly with its advisors to provide them technological, compliance, marketing, business development, and operational support, as well as access to leading experts in the fields of retirement, wealth management, insurance and institutional services. Its divisions include IFP Institutional Services, IFP Insurance Group, IFP Plan Advisors and IFP Wealth Management.
As of Dec. 31, 2015, IFP’s advisors have more than $28 billion in assets under advisement. The firm has annually earned the trusted CEFEX certification for adhering to the industry’s best practices for Investment Support Services since 2014. For more information, visit www.ifpartners.com. Follow the firm on Twitter at @IF_Partners.
The Centre for Fiduciary Excellence (CEFEX) is an independent global assessment and certification organization. CEFEX certification is designed to demonstrate conformity with a global standard of investment fiduciary excellence as defined by the Prudent Practices of Investment Advisors handbook published by Fiduciary 360 (fi360).
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Independent Financial Partners, a registered investment adviser and separate entity from LPL Financial. Financial Soundings is a separate entity from LPL Financial and Independent Financial Partners.
Media Contact: Jeff Cronin DDCworks 484-342-3600 x244 – [email protected]
Posted by: Sean Brennan | October 14th, 2016 at 12:40pm.