Kicking Off the 3rd Quarter

As we quickly head into the 3rd quarter of 2008, at last week's Advisor Breakfast, we took a look at some new ventures and marketing opportunities that are coming up.

First: On July 1, 2008 American Funds is rolling out their new PlanPremier TPA platform. This multi-fund product will allow clients to utilize the best of American Funds along with various outside mutual funds, along with the tailored plan design and high level of service clients have come to expect with a TPA. This is particularly exciting for Wells Thomas, LLC as we are one of a handful of TPAs in Connecticut that have been pre-approved to work with this platform. For more information, please call or office to schedule a meeting with us and an American Funds representative.

Second: We are now in the midst of the latest document restatement process for all of our Defined Contribution Plans using Prototype or Volume Submitter plan documents. All of these must be restated to the EGTRRA document no later than April 2010. This is a great opportunity to meet with your clients and ensure that the plan design is appropriate for the current company make-up, as well as meeting the goals of the company owner(s) or key employee(s). Now is the perfect time to solidify your relationship with your existing clients by providing proactive services...and could be a great time to market to potential clients by using this as a way to review their current plan satisfaction.

Third: We are pleased to announce that Wells Thomas, LLC and New England Payroll Services, LLC will be offering a seamless, online data transfer program for our mutual clients. Currently we are in the design stages of the system, but the end result will significantly lessen the data entry time spent by clients in ongoing contributions as well as year-end data collection. Once a client enters the appropriate payroll information into New England Payroll Services, LLC's website (or directly with a payroll representative), contribution data files will automatically be generated and Wells Thomas, LLC will coordinate the transfer of the data to the appropriate custodian of the client's retirement plan. Our goal is to provide not only an easy way to consolidate data entry, but to also help our clients ensure they are meeting the deposit timing standards as mandated by the DOL (see article below on proposed deposit timing). More information will follow as we move forward with this exciting new venture.

We'd like to thank all of those who attended this quarter's meeting, and look forward to seeing you next quarter. Invitations will be sent out in early September with details on when and where the next meeting will be held.