Digital Solutions for Retirement Financial Services

By using our technology, both corporate retirement services and individual retirement services companies can guide their clients through key paperwork in real time, obtaining multiple signatures from plan sponsors, trustees and other stakeholders.

Done on paper, and with the need to travel to the client’s physical location, this process takes more than a month – not to mention significant rework due to error.

Done with Liveoak, the work takes less than an hour and gets it done right the first time, with a “not in good standing” rate of less than one percent.

The two primary retirement investment tools are a 401K and IRA accounts – one is a commercial tool and the other is primarily for personal investments. Many banks, financial institutions, and investment firms are offering more complex and diverse retirement investment products to their customers, including fully digital products with no brick and mortar branches.

When onboarding a corporate (business) retirement plan, there are several players involved – the client (company), the trustees of the company plan, the financial advisor, the third party administrator (the company that does all the IRS testing and tax filing), the investment provider and sometimes a separate record keeper.

One of the big challenges is getting all those entities together on the same page at the same time.

Often times, 401k sales reps have to travel to get signatures from trustees and it’s difficult to get all the paperwork filed. Additionally, plan documentation, employee census data, and more is required when moving to a new 401k provider.

Now, you can do this through Liveoak all at the same time.

With Liveoak, you can:

  • Accelerate plan on-boarding and transitions for individual and corporate retirement plans
  • Eliminate NIGO with accurate data capture across multiple stakeholders
  • Unique System of Audit™ including compliant capture of activity, keystroke log and collected data/files

In order to meet financial regulation requirements and handle customer demands in the digital landscape, retirement services need a tool that will allow them flexibility, remote capabilities, and the ability to interact and capture new and existing customer data in real time.

Liveoak Technologies allows financial institutions, such as retirement plan services, to work remotely with plan sponsors and stakeholders to complete and sign new account paperwork as well as provide supplemental plan documentation. Liveoak enables retirement plan services professionals to expedite business and sell more , plans, assests and close more deals.

Our software allows you to work with new and existing plan sponsors in a completely secure, interactive, remote environment. Here are just a few of our features:

  • Capture and verify identity
  • Complete remote signatures through DocuSign
  • Live conferencing – video, voice and text chat
  • System of Audit™ record of all conference participants activity and actions taken inside the conference, including shared documents and images Real-time feed of conference activities and recording actions
  • Assist and guide customers while they are completing forms and applications
  • Share and upload files and images

Digital Services for Retirement Investing, 401K & Pension Clients

Liveoak is a retirement planning software that allows corporate and individual retirement services to seamlessly connect with new and existing customers in the digital realm.

Since most retirement accounts are services by third party administrators, there is a lot of paperwork, cross party compliance, and regulation that comes in to play when retirement accounts are being processed, evaluated and handled. Liveoak is that missing piece of the puzzle.

As a retirement planning software for advisors, we’ll help you cut through the red tape of compliance to provide a seamless onboarding process for your customers.

Retirement Financial Services FAQs

What is retirement planning software?

Retirement planning software is any application that helps or facilitates the management of retirement wealth accounts, 401k’s, and pension funds. There are software solutions designed to cover a wide range of problems in retirement plan services industry. Liveoak is a retirement plan software that specializes in helping companies create seamless workflows between their customer onboarding, compliance, and security.

What is the best retirement planning software?

The best retirement planning software is the one that meets your needs directly. If you need a full-service solution that will help streamline your company’s customer onboarding process, paperwork management, security, and more.

What are some companies that provide retirement services?

There are countless retirement services companies out there. In most cases, banks and financial institutions are the primary providers of retirement financial services. Below are some of the largest providers of 401k retirement plans:

  • Charles Schwab
  • Employee Fiduciary
  • ADP
  • Vanguard
  • T. Rowe Price
  • Fidelity Investments

Case Studies & Whitepapers

Remote Account Opening

Use Liveoak to create a remote live customer interaction. We know from experience that complex paperwork, transactions and remote customer onboarding requires professional assistance.

 

Liveoak Technologies

We get virtual business done™