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Retirement Planning > Retirement Investing

Ladenburg: Turnkey Retirement Plans Now Available to Advisor Business Clients

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After strong demand from its affiliated advisors, Ladenburg Thalmann Financial Services released a turnkey fully bundled program that allows its advisors to provide qualified employee retirement plans to their business-owner clients. Qui(k), unveiled this week at the firm’s national conference, is available now to Ladenburg’s independent advisor and brokerage subsidiaries.

“We have seen significant demand from advisors, and the product was developed in conjunction with their feedback,” Paul Lofties, Ladenburg’s senior vice president of wealth management, told ThinkAdvisor. “The target audience for Qui(k) is advisors that have a few plans and want assistance in fulfilling the professional duties required by ERISA.” He adds that the program responds to that need by offering built in 3(38) and 3(16) fiduciary solutions.

Qui(k) has turnkey administrative and recordkeeping functions, including day-to-day administrative tasks, such as reviewing and approving employee loans, overseeing hardship distributions, qualified domestic relations orders, terminated employee distribution requests and more, according to the firm.

Plan sponsors (i.e. businesses) will access the Qui(k) program through an affiliated advisor. The plans will be custodied at Mid-Atlantic Trust and serviced by Touchstone Retirement Group as the recordkeeper and third-party administrator, according to Lofties.

“The advisor, as well as the plan sponsor and participants, will have 24/7 online access to view accounts and make necessary changes,” Lofties added.

Investment fiduciary services will be handled by Ladenburg Thalmann Asset Management, Lofties explained. “We believe this structure best allows advisors to focus on relationship management and education with both plan sponsors and participants,” he said.

Lofties separately noted in a release that “the fiduciary responsibilities and administrative burdens involved in setting up such plans … have too often acted as deterrents in offering these benefits in the past. With Qui(k), our advisors can help minimize those concerns, strengthen their client’s businesses and free employers to do what they love: Serve their clients and grow their companies.”

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