TAMPA, Fla., February 16, 2016 – IFP Plan Advisors, a division of hybrid-RIA Independent Financial Partners in Tampa, Florida, is launching its Retirement Resource Desk, a new offering of specialists and tools to support the reporting and business development needs of its advisors.
The Retirement Resource Desk is designed to lighten the workloads of the division’s advisors by allowing them to outsource the production of quarterly investment monitoring reports, semi-annual provider benchmarking reports and investment due diligence reports to a member of the central IFP Plan Advisors team. The desk staff will also act as an RFP response center and assist with proposal generation and tracking.
“These are critical parts of the work of our retirement plan advisors, but they are also a very time consuming,” said Kimberly Shaw Elliott, president of IFP Plan Advisors, which includes more than 150 advisors supporting 1,400 retirement plans and $35 billion in plan assets under advisement. “By taking reporting off of our advisors’ plates, we free them to spend more time with their clients and look for new ones. Our Retirement Resource Desk will also help with that by including a client prospecting center.”
The Retirement Resource Desk’s business development liaisons will identify plan sponsor prospects through branded email campaigns, educational video content and calling programs. They will help increase the brand awareness of the advisors within a defined geographic region, rank the prospects and secure meetings on behalf of the advisors.
“Our team will be able to tee up qualified prospects for our advisors and allow them to do what they do best — show plan administrators how they can serve their businesses and employees,” said Jay Bloom, IFP Plan Advisors director of business development. “Business development is especially important now because we’re in an era of increased regulatory oversight and fee compression. In order to be as successful this year as they were last year, an advisor needs to secure more business.”
In addition to creating a dedicated support team, IFP Plan Advisors has added three new tools to its technology arsenal available to its advisors:
- Envestnet Retirement Solutions, integrating regulatory, data and investment tools designed to provide holistic practice management information.
- Financial Soundings Insights Reports, providing each employee of a plan sponsor client a personalized report.
- a new system for generating and tracking proposals.
“While we now offer this new technology, we will never require our advisors to use any of it,” Elliott said. “We fully support advisor choice and wish to ensure that our advisors have a full range of leading tools.”
The Retirement Resource Desk and the new tools came at the request of many of IFP Plan Advisors’ current advisors. The company expects they will be fully implemented by mid-year. “Our willingness and ability to respond quickly to the needs of our advisors further solidifies our position as a leader among hybrid RIAs,” Elliott said.
About Independent Financial Partners
Independent Financial Partners (IFP) is an SEC Registered Investment Adviser (RIA) and comprehensive wealth management firm located in Tampa, Florida. Operating on the LPL Financial hybrid RIA platform, IFP is a multi-custodial hybrid RIA platform that is focused?on delivering personalized, concierge-level service to a network of approximately 500 advisors nationwide. Founded in 2000 by CEO William Hamm Jr., CFA, CFP®, CLU, IFP is a privately held, family-owned firm with the primary goal of improving the lives of its advisors and their clients. The firm provides the tools and support needed for advisors to grow their practices, including some of the industry’s most innovative technology, responsive back office support and access to an unparalleled network of seasoned financial services professionals.
IFP has just under $6 billion in assets under management and, as such, continues to attract entrepreneurial-minded financial advisors and advisory groups seeking a unique, independent advice solution for their families and clientele. For more information, visit www.ifpartners.com.
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.
Jeff Cronin, DDCworks
Posted by: Chris Hamm | February 16th, 2016 at 11:47am.