FPS Group Expands IPX Platform to Handle IRAs

FPS Group LLC, a provider of retirement plan solutions in the 403(b) and 457(b) space, has expanded its Investment Provider Exchange (IPX) platform to support individual retirement accounts (IRAs).

The product bundles complete custody, recordkeeping, administration and portfolio maintenance of IRAs. The goal, FPS Group says, is to give an opportunity to financial institutions to outsource service operations so that they can focus on growing their business.

“Through our new product, we give many types of financial services companies and providers—such as recordkeepers, fund companies, banks, credit unions, advisers and affinity groups—a competitive edge to streamline processes and efficiently expand their capabilities,” says Jeff Linowski, 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.”

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. Additionally, the IRAs on IPX are supported with a fully staffed call center.