Mid Atlantic Announces IRA Alliance with Inspira

PITTSBURGH, PA – Dec. 14, 2010 – Counsel Trust Company, dba Mid Atlantic Trust Company (MATC), a Pennsylvania-based provider of custody and trustee services for retirement plan providers and investment advisors, announced today its latest service enhancement, Total IRA Plus, provided by Inspira. MATC worked with Inspira to create an IRA capture solution that enables clients to enter the automatic and voluntary rollover business seamlessly and quickly, resulting in enhanced revenue and profits.

"We've integrated with Inspira to the point where all automatic and voluntary rollovers can be accomplished for our clients almost seamlessly," said Tim Friday, Group CEO of Mid Atlantic Capital Group (MACG) and officer of MATC. "Asset transfers between the plan and the IRA solution are accomplished internally and efficiently, and participant data files can be easily uploaded via Inspira's web interface."

With Total IRA Plus, plan participants looking to rollover retirement accounts get a choice of screened investment options and are also given asset allocation tools to help them choose the portfolio that best suits their needs.

Participants that are automatically rolled into Total IRA Plus are encouraged to diversify their investments beyond the initial Safe Harbor investment. New IRA accountholders also have 24/7 access to account information via the internet and a toll-free number, as well as access to skilled IRA customer service representatives 7 days a week.

"Many of our qualified plan record keepers understand that the IRA plays a major role in retirement savings and that they are constantly losing accounts and revenue from qualified plans to IRA rollovers. However, many of those clients are not in a position where they can offer a compliant solution that doesn't involve essentially transferring assets to a competitor," said Friday.

"With this solution, record keepers get paid each year for every IRA account maintained by Mid Atlantic and Inspira, two entities that do not compete with them, but simply provide outsourced services which help their clientele attract, grow, and maintain assets."