Plan Advisors

All of PenChecks products and services are designed to make the life of Plan Advisors easier. We handle the tedious and time-consuming tasks associated with complicated distribution processing so that you don’t have to. As Plan Advisors you have more important and more valuable things to spend your time on. Rather than trying to keep up with ever-changing rules and regulations regarding distributions, notice requirements, current forms and tax issues. When you’re able to focus all of your efforts and energy on your core business, your clients win. And when your clients win they value what you do for them. High client satisfaction and perceived value is the critical key to business growth and success. Partnering with PenChecks keeps you focused on your core business competencies and keeps you growing your business.

PenChecks can handle the processing of any kind of distribution on behalf of Plan Advisors. PenChecks has an entire suite of Distribution Services to handle everything from participant communication to benefit election processing to actual payment services. We have specialized in distribution processing for the Plan Advisor / TPA market since 1994 - we can help you do anything you need with respect to distribution processing. All of PenChecks distribution processing products and services come with our legendary customer service. We assign in-house Client Service Account Executives for every Plan Advisor account. We can work directly with you and/or your Plan Sponsor clients. And we can customize how we work with different accounts. Our Plan Advisor clients enjoy the benefits of significantly reduced participant contact, never again having to update Special Tax notices, not having to continuously train and monitor staff on the latest new rules and regs or worry about whether or not a Plan Sponsor client is handling tax payments properly and timely. PenChecks can do all of this for you. Distribution processing is what we do all day, everyday. Furthermore we eliminate the need for Plan Advisors to gear up at certain times of the year (i.e. year-end and late January) and try to become experts in 1099 processing, IRS filings, Default / Missing Participant IRA rollover regulations and a slew of other activities that don’t grow your business and only detract from other far more valuable and proactive revenue-generating activities.

PenChecks’ proprietary distribution system automatically facilitates lead generation to brokers and advisors. Every time a distribution is processed from a particular plan, a lead is automatically electronically sent to the broker of record on the plan. Each lead generated can be further customized to discriminate against participant balances that fall below a desired threshold so that you and your advisors maximize time to leverage worthwhile leads. There is no additional software to install nor any extra in-office process or procedures to implement. There is no additional cost for lead generation. When processing distributions with PenChecks, you simply get automatic, built-in lead generation from the start. PenChecks customizable lead generation is the single most effective and easiest method to maintain control of your participant client accounts and retain and help grow assets under management.

PenChecks can help any Plan Advisor streamline their operations. Working with PenChecks has an immediate impact by simplifying the work that needs to done. All distribution processing and monitoring can be handled in one simple online application. The need for paper is eliminated. The need to train in-house staff is drastically reduced. There is no need to learn, train and remember how each individual institution or custodian you work with operates. When partnering with PenChecks you have one simple, repeatable process and one procedure that is the same for all distribution processing. Furthermore, processing times become exact and predictable. There is no software to install or hardware to buy or hard copy records to maintain. And best of all, our Plan Advisor / TPA clients enjoy the ability to continue collecting the same fees they are accustomed to but only have to do a fraction of the work.