FPS Group Enhances User Experience on Its Investment Provider Xchange Platform™ for the 403(b) Market

FPS Group, LLC an innovative solutions provider for retirement plan professionals operating in the 403(b) and 457(b) markets, has enhanced its Investment Provider Xchange„¢ (IPX) platform with user interface and user experience (UI/UX) updates. The changes streamline the investment, administrative, operational and communication processes for 403(b) participants, plan sponsors and advisors. IPX is a modernization of traditional recordkeeping platforms that serve plans with multiple providers.

New and noteworthy features for 403(b) plan advisors, sponsors and participants on the enhanced IPX platform include:

  • Advisor-assisted participant enrollment – This feature overcomes what has traditionally been a major hurdle preventing participants from taking advantage of their employer-sponsored plans, by removing the paperwork and time delays. Entrusted advisors, with participant approval to engage in the enrollment process on their behalf, can now complete the necessary steps to quickly and efficiently enroll participants via the IPX Platform.
  • Advisor interaction and communication – Participants are able to view their advisors information and give them permission to carry out various tasks on their behalf, including investment changes and initiating transfers. Both the participant and advisor have separate login credentials to cut down on potential complications with audits and to comply with best practices.
  • Storage information and reporting – Participants and advisors can prepare reports for any time period of their choice. All information is stored by transaction in perpetuity. While most providers only store this data for 12 or 24 months, IPX doesnt remove data, enabling participants to view pending transactions, documents, transaction certificates and public notices in an organized, protected vault.
  • Tailored advisor selection – Instead of viewing a list of approved products, participants and plan sponsors are able to see a culled-down list of advisors based on their geography, school district and other factors. This facilitates better tracking and security for plan sponsors, as they can regulate who has access to their campus and be confident that advisors are only selling authorized products.
  • Personalized resources – In addition to the resources already available on the platform, plan sponsors can design personalized education, resources and materials for their participants to equip them with the knowledge to be successful.
  • Dedicated Financial Wellness Resource Center – In response to the growing demand for financial literacy, the platform now includes videos, interactive calculators and articles to address the most sought-after topics by participants.

We are committed to continually advancing our platform to meet the evolving needs of plan sponsors, advisors and participants in the public-sector retirement space. The latest UI/UX enhancements are a direct response to the challenges these individuals face and which previously stood in the way of their success, said James Olson, managing director of FPS Group. The updates have been well-received and underscore our commitment to delivering a solution for this complex and evolving landscape.

The changes are effective immediately and support will be available to current customers via phone and educational webinars. For more information, please visit www.ipxplatform.com.

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About IPX

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. 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.

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