The IRA Market

Our business is training your staff in the areas of IRA sales, documentation, compliance and reporting procedures ... preparing them to serve your most valuable asset ... a customer!

While there are many options for IRA Training, on-site seminars have proven the most effective method of accomplishing the wide array of training goals appropriate to the full needs of financial institutions offering IRA products to their customers.

How does your knowledge of IRA's measure up? When you have an IRA question, who do you contact? What is the time delay in geting accurate and understandable information to your customer? Are you able to name the IRA Products and opportunties offered by your institution? ... How about the employees in direct contact with your customers? Can your client reps and tellers effectively open an IRA account for your customers and answer the most commonly asked questions. Is this a positive experience for your customer? ... for your employees? -- Don't we all dread doing the things we're unsure of or ill prepared to do.

In today's consumer market, it goes without saying the Customer is King! What they want ... they get. If you aren't ready to provide this service someone else is ... and will!

Do you want IRA deposits? We certainly think they are attractive. Consider the following:

  • IRA Deposits can represent thousands of dollars in annual deposits per account ...
  • With the advent of the Roth IRA, annual contributions can continue past the age of 70½, as long as the customer has earned income.
  • Many people have been availing themselves of the IRA opportunity since the inception of the IRA in 1975.
  • The SEP (Simplified Employee Pension) Plan is a special IRA account designed for small business owners, independent professionals and other self-employed individuals which allows up to 25% of wage income (not to exceed income cap) to be set aside for retirement.

Obviously, not everything about the IRA market is on the upside. The downside is that the IRA marketplace represents one of the more complicated products offered in the consumer banking market. The impact of this fact manifest itself in several areas:

  1. Origination / opening of the IRA Instrument
  2. Record Keeping Requirements
  3. IRS Reporting Requirements
  4. Disbursement of IRA Funds

Each of these areas represents an opportunity for the institution to shine in the eyes of its customers. Conversely, inability to consistently serve the requirements of any of these areas represents a corresponding opportunity for failure in the customer's eyes, as well as, creation of compliance failures possibly subjecting the institution to penalties and/or other financial liabilities.

Don't let a lack of technical expertise steal your IRA Business! Combat the impact of employee turnover on IRA Skills and Profits.

The IRA Tutor offers expert services for your IRA Department and Branch Personnel.

Need more information now! Please contact us today.

We're trying hard to stay easily in touch! You can: call us or e-mail us!   Click Here to see how! We'll be in touch within two business days to begin developing a customized training program for your institution.


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