Invesmart, Inc. First to Focus on Delivering Retirement Services to Small Business Market on a National Scale.Business/Technology Editors PITTSBURGH--(BUSINESS WIRE)--Aug. 1, 2000 New Emerging Growth Company Division targets companies with 100 employees and $1 million in assets or less Invesmart, Inc. (www.invesmart.com), the nation's largest independent, full-service retirement financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. provider, today announced the launch of its new Emerging Growth Company Retirement Plan Business Division aimed at serving the growing small business market. Invesmart provides services to all retirement market segments. This most recent offering combines investment choice, simplification of administrative requirements and delivery in an advanced technology package. "Our target is to provide a full retirement plan menu that can be easily accessed by this market segment - a group that has been substantially underserved until now. Invesmart will provide to small companies the same level of choice plus a robust menu of services that have been traditionally only available to larger plans," said Jeb Britton, Invesmart's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This is a growing market we want to own." Invesmart's offering is known for combining technology and service choice without the complexity and costs of traditional retirement plans. Uniquely designed to serve the small business market, Invesmart's proprietary technology is available online through its iGuide(TM) system which provides comprehensive services ranging from plan selection and investment choice to employee education. Emerging growth companies have access to a variety of plan types including Simplified Employee Pension (SEP 1. SEP - Someone Else's Problem. 2. (tool) SEP - A SASD tool from IDE. ) Plans, SIMPLE IRA Simple IRA A salary deduction plan for retirement benefits provided by some small companies with no more than 100 employees. , 401(k), Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 401(k), Money Purchase Plans and Profit Sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of Plans. Additional features of Invesmart's offering are participant online account management and plan compliance testing as well as traditional services such as record keeping and plan administration. "Other plan providers can be more accurately described as asset gatherers due to the fact that investment management is the basis of their business," said Mark Gensheimer, President of Invesmart. "Invesmart's model is to provide access to a broad range of appropriate investment options and plan types. This offering demonstrates our commitment to this important, yet underserved, market." Invesmart estimates that there are more than two million companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. that fall into the small business category. Research shows that only about one-third of these companies have retirement plan offerings for their employees, typically due to the costs and intricacies associated with establishing plan coverage. "In today's job marketplace, emerging growth companies desire retirement plans that are viewed as being competitive by employees, yet are tailored to the specific needs of the company," said Martin Barkman, Managing Director of the Emerging Growth Business at Invesmart. "The Invesmart iGuide system is robust and innovative, providing a consultative approach to retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. that is the first and only one of its kind in the market." Invesmart emerging growth company clients may access the iGuide(TM) online planning tool at their convenience to assist in their retirement plan design. Through iGuide, companies can set up a full-service plan without the complexity or costs of traditional plans. This eliminates the aggravation Any circumstances surrounding the commission of a crime that increase its seriousness or add to its injurious consequences. Such circumstances are not essential elements of the crime but go above and beyond them. typical of plan design, providing a far easier solution to plan administration and compliance testing. Support is also available via the telephone to help in this process or to answer questions about mutual fund or plan options. "Within the retirement financial services arena there is significant potential for some new and innovative online offerings," said Judith Rosall, Research Director, e-Business at the Aberdeen Group Aberdeen Group is a provider of business-related research services. It has its headquarters in Boston, Massachusetts and belongs to the Harte-Hanks group. Founded in 1988, Aberdeen's research is used by over 2. , Inc. "It is a market that is traditionally slow to adopt change, but one that could use revitalization. Invesmart has the core competencies and potential to fill a unique niche within this market by providing an inclusive menu of online investment options to its customers." About Invesmart Invesmart is the nation's largest independent, full-service retirement financial services provider. With offices nationwide, Invesmart offers an unmatched selection of independent investments combined with innovative Internet technology, enabling employers and employees to invest smart so they can retire right. The company, headquartered in Pittsburgh, PA, has over $7.5 billion in assets under administration and represents over 5,800 companies and more than 425,000 participants. Invesmart is backed by Investor AB Investor AB is a Swedish investment company, founded in 1916 and still controlled by the Wallenberg family. The company owns a controlling stake in several large Swedish companies. In 2006 it had a market value of 119 billion kronor (€13 billion). ($16 billion). , SOFTBANK Venture Capital, Crosspoint Venture Partners and Mellon Ventures and has an agreement with Morningstar Associates, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to provide investment advice services through Morningstar ClearFuture(SM). To learn more about the company, please visit www.invesmart.com. |
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