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Aspire Offers Advisors a Way Out of the 401k House of Mirrors

(401kWire) – What if each advisor could choose their favorite custodian, customize their investment lineup from the whole investing universe and mirror that in an IRA rollover solutions…and apply that to all of their plans, with customization as needed for each and all stamped with the advisor’s brand? That’s the pitch offered by Aspire top dogs Pete Kirtland and Lou Bachetti.

Speaking this morning at the 2012 CFDD conference at the Swisshotel in downtown Chicago, the duo made the case for what they see as the future of retirement plans, a way out of the house of mirrors.

“There’s an opportunity to simplify the way advisors interact in the marketplace,” said Bachetti, head of sales and distribution for the Tampa-based recordkeeper.

Kirtland, president and CEO of the now-private-equity-backed company, revealed that the next piece of Aspire’s solutions will debut in 2013. In the first quarter of the year, Kirtland said, Aspire will launch its fully customizable IPX, or investment program matrix. The matrix will allow advisors to create a suite of model portfolio options, out of their preferred lineup, with different brackets differentiated based on both age and risk tolerance. They can then mirror those custom portfolios in their IRA rollover solution, too.

“You can manage portfolio at a global level by creating templates,” Kirtland said. “You can use one template across multiple plans.” “The trick for open architecture is to take the beauty of unlimited choice and make it as simple as can be, Bachetti said, calling Aspire’s advisor solution “advisor nirvana.”

“Build your best menu. Use it for every client. Pick your preferred QDIA. Mirror your plan investment line-up with a one-click IA solution so when people leave, nothing happened,” Bachetti said. “That’s the vision we really had as a business.”

“What we’re trying to create is an iTunes playlist mentality for the industry,” Bachetti said.

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