Inspira Announces Enhancements to its IRA Servicing Platform

PITTSBURGH, Nov. 10, 2010 /PRNewswire/ -- Inspira, a Pittsburgh-based provider of turnkey IRA solutions for financial institutions and professionals, announced today new upgrades to its system designed to enhance the ability to capture rollovers.  

As a part of this release, Inspira developed a standard data interface that permits the transfer of data from a recordkeeping system directly into its online account sign-up process. The recordkeeper is then notified when the account-opening process is completed.

Through this new interface, recordkeepers can pass data from the recordkeeping system such as estimated rollover value, Social Security number and accountholder demographic directly into the Inspira IRA platform. The result is a quicker, easier account-opening procedure.

At the end of the process, the interface also permits Inspira to send account opening confirmation to the recordkeeper to help facilitate the distribution of assets from the retirement plan into the newly created IRA.

"We are constantly looking for ways to simplify and enhance the rollover experience for plan participants," said Lowell Smith of Inspira. "This new capability makes the rollover process virtually seamless for the recordkeeper and an even better experience for the account applicant."

In addition to the data interface, the upgrades also include enhanced advisor reporting and improved back office functionality for Inspira's institutional clients.

About Inspira: Based in Pittsburgh, PA, Inspira provides automatic and self-directed IRA solutions for Financial Advisors, Plan Sponsors, Third Party Administrators, Bankruptcy Professionals and Affinity Groups.

SOURCE Inspira