Spectrum Pension Consultants, Inc. (Spectrum) and GROUPIRA®, INC. (GROUPIRA®), on Monday, April 18th announced at the National Association of Plan Advisors (NAPA) annual conference the deployment of the second GROUPIRA® development project. GROUPIRA® 2.0 is aimed at providing customized solutions for advisors and making GROUPIRA® an integrated solution within the entire FIS SunGard Relius product space. GROUPIRA® is a convenient retirement investing program designed for Main Street investors. Built upon leading technology, GROUPIRA® brings the features and simplicity of 401(k) plans to IRA investors. To further this mission, GROUPIRA® developed customized online account origination for advisors participating in the program. Additionally, this solution was co-developed with FIS SunGard Relius to provide retirement plan providers access to GROUPIRA® nationwide.
“GROUPIRA® enables advisors to help the Main Street investor, and we are excited to launch this new technology to our advisory partners and retirement providers nationwide,” said Yannis Koumantaros, GROUPIRA® Co-Founder. “This solution provides our partners a cloud based, paperless, and seamless technology integration from their retirement practice to GROUPIRA®.”
The GROUPIRA® latest technology development expands on the launch of www.groupira.com where participating advisory firms are providing an IRA program to their clients powered by GROUPIRA®. The public site provides members with an opportunity to open an IRA with any of the participating advisory firms. This enhancement deploys a custom site for each advisory firm to integrate online account origination, electronic IRA papering, services agreements and Form ADV disclosures if applicable for their firm.
“Christopher Waldron and Kevin Boercker led the development team efforts for GROUPIRA®, coordinating hundreds of engineering hours between all firms involved,” said Petros Koumantaros, GROUPIRA® Co-Founder. “What we are now bringing to market is private labeled IRA technology for Advisors to scale up their rollover business, while complying with the new Fiduciary rules released earlier this month.”
With this development project Spectrum co-developed with FIS SunGard Relius we created a rollover solution to select GROUPIRA® as an IRA provider online. This integration allows retirement providers using FIS SunGard Relius to provide their participants an online IRA opening in conjunction with the online distribution process. This seamless integration provides a simple and efficient method for participants to choose to rollover their retirement plan accounts.