401kDIRECT champions Inspira's IRA solutions

Pittsburgh, PA – April 13, 2010 – Pittsburgh, PA-based Inspira marks the success of 401kDIRECT’s implementation of its IRA solution.

In the fall of 2009, due to increasing demands and the expanding IRA market, respected retirement plan provider 401kDIRECT recognized the need to employ a new IRA solution. They required a system that would give the company and its clients simplified access to the entire IRA marketplace, including Traditional IRAs, Roth IRAs, SEPs, Simples and IRA rollovers.

401kDIRECT was mindful of upgrading its technology to handle the company’s already full load of IRAs and accommodate the increasing demand it was experiencing. It needed a cutting edge solution. After many discussions and a complete assessment of the IRA solution industry, 401kDIRECT’s team of retirement experts concluded that Inspira was the right provider to meet their changing needs.

“When we compared Inspira to some of the other providers out there, we felt Inspira’s technology was just much better,” said 401kDIRECT COO Raj Pillai. “We felt that, to do IRAs in volume, Inspira was the only solution for us.”

Aside from Inspira’s superior technology, Pillai and his team of experienced retirement professionals were sold on the diversity of Inspira’s solution. The prospect of using one service for all of their IRA needs while maintaining their brand was incredibly appealing for 401kDIRECT. So was the ability to offer their retirement investment advisers the opportunity to effortlessly retain assets and receive ongoing compensation from participants rolling out of their 401(k). “With some of the other providers, we had to basically segment our IRA solution based on asset size. Whereas with Inspira, we were able to employ a one-stop solution across all IRA markets,” said Pillai. “We wanted to keep it all under one roof, and that’s why we felt Inspira had the right solution for all of our IRA needs.”

The result has been an ideal partnership. Pillai and 401kDIRECT are now able to provide their clients with an IRA offering that captures lost participant revenue, increases the length of the client-participant relationship and affords clients the ability to utilize the same investment methodology from account-opening through retirement. At the same time, participants get an efficient and user-friendly means through which they can control their assets with Inspira’s unique, private labeled Web-management portal.

“Everyone that I’ve talked to internally – our team, the operations and processing and so on – everyone is extremely happy with Inspira,” said Pillai. “Inspira’s team does a fantastic job. When we provide the data, Inspira has the account up-and-running very quickly.”