Inspira and RiversEdge form strategic partnership

Pittsburgh, PA – April 23, 2010 – Inspira, a Pittsburgh-based provider of turnkey private-labeled IRA solutions, has signed a strategic partnership with daily valuation recordkeeping firm RiversEdge Advanced Retirement Solutions. This latest agreement marks Inspira’s sixth new strategic partnership in the past month.

The partnership gives RiversEdge access to the rapidly growing $4.3 billion IRA marketplace, while Inspira gains yet another strategic partner and further establishes itself as the industry’s leading provider of IRA solutions.

Inspira will be performing automatic and voluntary rollover services for RiversEdge and its clients and will also provide RiversEdge with SEP and SIMPLE retirement program offerings. RiversEdge clients will now be able to offer their participants an IRA solution through their own private-labeled Web portal, call center and marketing outreach program.

“With our open-architecture approach to providing full-service daily valuation recordkeeping services to our clients, we believe that an open-architecture rollover and small business retirement plan solution is in the best interest of our clients and their participants,” said RiversEdge founder Paul Palguta. “Our goal is to provide our RIA and other financial partners a suite of tools unmatched in the industry--tools which can help them more effectively service their clients and build their business. Inspira bolsters our service offerings and allows us to offer solutions that don’t come from our competitors.”

Using Inspira’s solution means RiversEdge clients will have access to Inspira’s offering, which captures lost participant revenue and affords them the ability to utilize the same investment methodology from account-opening through retirement.

“I’ve known and worked with Paul for nearly 15 years, and I’m delighted to be working with him again,” said Inspira founder Lowell Smith Jr., who previously worked with Palguta at retirement start-up Invesmart, subsequently purchased by The Standard. “Paul understands the need to provide quality recordkeeping services to his clients, as well as the need to enter the largest sector of the industry, the IRA marketplace.”

Smith Jr. has 27 years of experience in the retirement and financial services industry, including nine years with the United States Department of Labor.

Before joining Invesmart, Palguta was formerly the head of product development at Schwab RT.