Work with small retirement plans? This one’s directed at you.
Standard Retirement Services, Inc.—better known as The Standard—today introduced Accelerate, a new 401k recordkeeping solution designed to meet the needs of retirement plans with up to $2 million in assets.
Accelerate enables small plans to seamlessly grow on the same platform as large plans, the company says, by offering best-in-class service at a competitive price.
“We conducted market research that revealed a significant opportunity for us to scale our expertise and service-first culture to meet the needs of small plans,” said Rob Baumgarten, vice president of Retirement Plan Sales at The Standard. “There is a big opportunity to enhance small plan relationships that might have felt limited in their retirement plan options. Through partnerships with TPAs, Accelerate provides peace of mind by creating efficiencies and delivering a superior experience for our clients.”
Accelerate strives to give clients a large-plan experience, with a streamlined design that allows advisors to manage small plans efficiently and accurately. Among its features:
- A scalable platform that can accommodate plan growth without time-consuming conversions
- An intuitive online Quick Start Tool for quick and easy plan quoting
- Flexibility in providing a range of competitive investment options
- Optional investment fiduciary services from Morningstar
- A designated account manager for a consistent point-of-contact
“Accelerate was created with ease of use in mind, allowing advisors and TPAs to use thoughtfully designed resources for their small plan clients,” said Jody Meth, senior director of Retirement Plan Product Management at The Standard. “In addition to its intuitive quoting process and streamlined onboarding and reporting tools, Accelerate is powered by our clean data technology to ensure errors are caught early—increasing accuracy, saving time and reducing risks.”
Baumgarten added, “Serving small retirement plans is nothing new for The Standard, but with Accelerate we can provide small plans a level of service typically reserved for larger plans at a competitive price.”
Since 1932, The Standard, based in Portland, Ore., has provided recordkeeping and investment services for retirement plans including 401k, profit sharing, money purchase, 403b, 457, defined benefit and cash balance plans.
SEE ALSO:
• OneDigital and Ascensus Create Small Market 401k Solution
• ‘Retirement Plan Exchange’ Debuts from Transamerica, UBS
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
