New Digital TPA, ‘401KInABox,’ Launched by Industry Veteran

401KInABox, TPA

Image credit: © Phive2015 | Dreamstime.com

A digital 401k Third Party Administrator solution built to “eliminate the burden advisors experience on small plans” was launched this week by retirement industry veteran Lee Bachu.

Called “401KInABox,” the new entity will concentrate entirely on the advisor-sold corporate retirement plan market.

Lee Bachu

“I know how cumbersome a 401k plan can be for employers and their financial advisors. I have always aspired to make 401ks easy for the ones that matter. 401KInABox achieves this by being simple, cost effective and easy to use,” Bachu said.

The platform, designed specifically for advisors, features a portal for managing plans and an entirely web-based sign-up, onboarding and payment experience. Advisors can bring their recordkeeper of choice to the table, as well as their own investment lineup.

“The financial advisor is the one plan sponsors look to for advice and guidance,” Bachu added, “So why not put them front and center?”

Bachu said 401KInABox is intended to cater to the smaller employer plan market, a segment frequently neglected despite often being the type of plan sponsor needing the most help. She is aiming for simplified administration while offering what she calls the lowest in administration cost the industry has ever seen.

The initial plan services launched are solo 401k, safe harbor 401k and small business profit sharing and cash balance plans. Bachu said the full scope of services will expand to specialized TPA products available to all unbundled 401k recordkeepers.

This new fin-tech solution was created by industry experts to help advisors build and grow corporate retirement plan clients. There is no area of TPA operations that has been untouched by Bachu during her career. She founded and presided over the regional TPA MGA Pension Consultants, Inc. from 1997 to 2016. She then served as the CEO of United Retirement Plan Consultants (URPC) from 2016 until its sale in 2019 to Ascensus.

While leading URPC, Bachu notes she grew sales and profitability to record levels, restored reputational excellence, designed and oversaw an industry-leading operational restructuring and used those accomplishments to orchestrate a highly successful acquisition by Ascensus.

With a goal of providing best-in-class, expert-based, powerful, compressed administration, Bachu said 401KInABox was born with the mission to provide the easiest 401k solution for advisors and their clients. For more information visit www.401kinabox.com.

Exit mobile version