BISYS has launched LinkinSight, a Web-based tool designed to providesconvenient online access to its retirement-related products, for both plan sponsors and third-party administrators (TPAs) and financial advisors.
It enables plan sponsors to access relevant plan and participant information anytime, and to exports the data for analysis and testing, including ADP/ACP testing and census data delivery. The LinkinSight solution also enables plan sponsors to access plan balances and participant activity data, and enroll new participants online. BISYS says it will reduce administrative requirements by empowering plan participants with online decision-making and retirement planning tools, and the capabilities to view fund and portfolio information, change contribution elections, transfer fund balances, request distributions and loans, and access self-directed brokerage options.
“Our innovative model is designed to complement and enhance the efforts of TPAs and financial advisors,” says Christopher Guarino, president of BISYS Retirement Services. “The LinkinSight solution supports the entire spectrum of our service offerings and our client relationships, and was developed to help our clients grow their retirement business by efficiently leveraging our industry and technical expertise, and our industry-leadingservices. We believe the LinkinSight solution will generate immediate and significant interest in today’s technology-driven marketplace, and will become a powerful resource for retirement plan sponsors, intermediaries, and participants.”
The LinkinSight solution enables TPAs to BISYS’s plan design and document preparation resources, download data to simplify compliance testing, generate customized reports, reconcile converted assets, and take advantage of BISYS’s consulting and administrative services.
Financial advisors can use the system to select up to 15 different fund portfolios from a broad range of fund families, to initiate plan inquiries, generate plan enrollment literature, review and maintain plan participant information, and generate a variety of on-demand reports.
“Regardless of plan size or geographic location, the LinkinSight solution enables plan sponsors, TPAs, and financial advisors to more efficiently meet the demands of today’s competitive marketplace,” concludes George Evans, executive vice president of business development, BISYS Investment Services. “LinkinSight addresses and solves today’s key market drivers – the need for retirement plan flexibility, reliability, and affordability – all in a single solutions.”