DENVER, CO / ACCESSWIRE / October 6, 2020 / LT Trust, an independent low-cost retirement plan provider, has released PartnerLens, an innovative technology that unlocks new opportunities from financial advisors' 401(k) data to make every client interaction smarter. By leveraging the power of data visualization, PartnerLens provides an insightful snapshot of an advisor's book of business with LT Trust. It clearly distinguishes those plans that are maximizing the benefit for its participants from those that may need focused attention from the advisor to increase participation, contribution rates, retirement income replacement rations, or investment diversification. Some key features of PartnerLens include:
- A multidimensional Plan Health bubble chart of participation percentage, retirement income replacement ratios, and plan assets
- A participant equity allocation glide path chart with variances calculated against age-based benchmarks; advisors can hover over outliers to identify individual participants who may benefit from investment advice
- Extensive library of participant behavior reports with easily exportable data that can be used to increase assets under management
- A sortable and filterable plan design matrix to quickly identify important plan provisions
- Real-time status updates of annual compliance testing, 5500 filings, and participant distributions
- Ability to submit service request tickets, collaborate, and view real-time status
"We created PartnerLens in collaboration with our advisors not only to provide a transparent view of key retirement plan metrics that assist them in easily analyzing participant behavior, but also to visually expose potential revenue opportunities," said Burke Johnson, Executive Vice President and Chief Operating Officer of LT Trust. "Our goal is to provide one of the industry's most intuitive self-service platforms, virtually eliminating the need of our advisors to contact us with report requests."
All the PartnerLens charts are connected, allowing easy comparisons between plans and one-click drill down into individual plans. While the default display of the site is all plans with key metrics, clicking one or more plans in any of the charts will dynamically render a display showing the data points for only those plans. As filters are selected, participant or plan data tables refresh immediately based on the criteria.
PartnerLens is also available as a mobile app through both the Apple and Android app stores. The app even allows advisors to receive push notifications when important events occur, such as when a participant with a vested balance above a certain threshold terminates employment.
Monette Lawrence of Archford Capital Strategies commented, "PartnerLens provides a modern, user-friendly interface on par with many of the largest recordkeepers in the country. It provides information pertinent to advisors, including a great combination of holistic views of our block of business with LT Trust, complemented by simple drill down capabilities to see important granular detail. LT Trust has significantly closed the technology gap most independent recordkeepers face when compared to their name brand competitors."
PartnerLens, which can be previewed in this short video, is the latest release in LT Trust's mission of becoming the premier technology solution in the small plan market. Earlier this year, it added a robust retirement income solution to its participant website. In continuing with its aggressive digital roadmap, LT Trust is already developing a completely revamped participant website experience leveraging the same cutting-edge technology that powers PartnerLens.
About LT Trust
Headquartered in Denver, Colorado, LT Trust provides low-cost 401(k) recordkeeping and administration services to growing businesses in all 50 states. By offering an open architecture 401(k) platform with access to almost 30,000 investment options, LT Trust enables its advisors to construct best-of-breed fund lineups without imposing any product requirements. LT Trust administered over 5,000 retirement plans with over $5.1 billion in assets as of Sept. 30, 2020.
Burke Johnson | LT Trust
(303) 658-3731 | [email protected]
SOURCE: LT Trust