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Mid Atlantic Recordkeeper Spotlight: Vertical Management Systems

Mid Atlantic wants to welcome to its roster of valued business partners Vertical Management Systems (VMS) in Pasadena, California.

Vertical Management Systems (VMS) is a technology innovation firm bringing best-in-class solutions to a financial services industry in need of change.  The firm prides itself on providing easy-to-implement, integrated solutions that solve for today’s key issues like fiduciary risk, fee transparency, and revenue reconciliation.  VMS has worked with top-tier financial services firms for over 20 years, and processes over $600 billion in assets.

Recently, Mid Atlantic caught up with the VMS team to get a more in-depth perspective of their underlying business principles and philosophy:

What do you believe your clients find most unique (or surprising) about working with your firm?

We are a cost-effective, feature-rich retirement solution that is easy to use.  Our cutting-edge technology allows our recordkeeping platform to be fully automated, enabling greater efficiencies and important features such as 100% fee transparency, true open architecture, and customized model portfolios.

What led to your decision to partner with Mid Atlantic on their Custodial platform?

VMS consistently strives to provide its clients with the highest-quality services available.  As one of the nation’s premier providers of trust and custody services and trading, settlement, and payer services, Mid Atlantic was a natural choice as a partner.  They share our dedication to providing the best financial products, services, and technology.  They provide a wide array of trust, brokerage, and advisory services all available on a single platform.  Lastly, the people at MATC are innovative as well as solution- and customer-driven.

How would you describe the underlying philosophy, principles, and/or strategies you implement when working with your clients?

At VMS, we are dedicated to helping Advisors and TPAs implement best-in-class solutions for the plan sponsors, and ultimately the individual participants, they serve.  We are masters in developing cutting edge technology that solves for deficiencies often found in legacy systems.  We offer easy to implement, integrated solutions that solve today’s key issues:

  • Fiduciary Risk
  • Revenue Reconciliation
  • Fee transparency

What are some of the greatest challenges you face in serving the 401(k) space?

One of the biggest challenges in serving the 401(k) community is that the requirements and demands of the space are continually evolving.  For this reason, Retirement Revolution was built from the ground up to provide greater operating flexibility to allow us and our clients the ability to adapt to a changing environment.

Of late, we have seen much press about lawsuits being filed against plan fiduciaries and their providers.  What are some of your top suggestions in making sure an employer stays out of these headlines?

We recommend that employers manage their fiduciary liability associated with recent DOL regulations by switching to a platform that provides 100% fee transparency and open investment architecture.  The ability to clearly communicate what the plan and participants are paying, and having unrestricted investment options to choose from are two critical elements in upholding fiduciary responsibility.

Unlike many legacy recordkeeping solutions, Retirement Revolution accrues and allocates revenue at the participant level which enables 100% fee transparency.

For more information about Vertical Management Systems, you may visit the firm’s website at: www.vmsholdings.com.

* Please note that the views expressed by our business partners do not necessary constitute the views of MATC.

Mid Atlantic Recordkeeper Spotlight: Certified Benefits Corp

Chris Staton
Certified Benefits Corp

Mid Atlantic is pleased to take this opportunity to spotlight valued business partner Certified Benefits Corp (CBC) in Altamonte Springs, Florida.

CBC was founded in 1996 as a member of Certified Financial Group (CFG), with the express purpose of creating a lower cost, customized retirement plan solution for its personal wealth management clients. As an independent recordkeeper and plan administration service provider, CBC’s primary objective is to offer an open-fund lineup not commonly offered by insurance companies and mutual fund providers. The firm partners with major custodians, independent investment advisors, and other third party administrators (TPAs) to provide unbundled, investment-independent retirement plans.

After several years working for another service provider, Christopher Staton, Vice President of CBC, joined the firm in 2003. In addition to performing a variety of roles with CBC and experiencing the many levels of services provided to clients and participants, Chris has been overseeing firm operations since 2007. Mid Atlantic recently spoke with Chris to get a more in-depth perspective of the CBC’s business philosophy:

What do you believe your clients find most unique about working with Certified Benefits? What, if anything, are clients most surprised to learn about your firm?

The most unique feature about Certified Benefits is our willingness to tailor our service to meet the client’s needs. We understand that our clients span different industries, different locations, and each has its own unique company culture. We tailor our service to the client and what they need.

What led to your decision to become a recordkeeper on Mid Atlantic’s custodial platform?

The Mid Atlantic platform has additional features that we will be able to bring to our clients.

How would you describe the underlying principles behind Certified Benefit’s most successful strategies?

Our service comes first… This allows us to create a long-lasting partnership with our clients. This is the main reason that a majority of our clients have been with us for 10+ years.

What are some of the greatest challenges you face in serving the 401(k) space?

Our greatest challenge is to provide efficient services without sacrificing the 5-star service we’ve become known for.

For more information about Certified Benefits Corp, you may visit the firm’s website at: www.certifieddifference.com.

* Please note that the views expressed by our business partners do not necessary constitute the views of MATC.