Wealth Management Systems Inc. (WMSI), a leading provider of technology-based rollover products and services, announced today an innovative technology initiative with PenChecks, Inc., the nation's largest independent distribution processing firm.
The synergies created by this alliance offers plan providers a highly educational and automated participant distribution process. By eliminating the need for a paper process and allowing participants to electronically select and execute an online distribution dramatically reduces the amount of time it will take to process a distribution.
Jude Metcalfe, WMSI CEO stated, "We are pleased to be working with PenChecks. The combination of our technology and processes fits in nicely with their premier distribution services. PenChecks' commitment to providing high-quality services is admirable."
"Adding WMSI's Rollover Solution Network to our online processing center, BenePay, provides plan participants with a variety of top tier IRA solutions. Users will be able to select an IRA, open an account, and request their distribution, all in one Web session," offered Peter Preovolos, PenChecks' President.