RolloverSystems | Press Release: RolloverSystems Platform Awarded U.S. Patent No. 7,155,407 for its Automatic Retirement Savings Rollover Process

RolloverSystems Platform Awarded U.S. Patent No. 7,155,407 for its Automatic Retirement Savings Rollover Process

CHARLOTTE, N.C. (January 9, 2007) -- RolloverSystems announced today that the U.S. Patent & Trademark Office (USPTO) issued U.S. Patent No. 7,155,407, entitled "Account Management Systems and Methods" to the company for its retirement savings rollover process.

"This patent signifies that automated rollovers are here to stay," said Reginald Bowser, CEO, RolloverSystems. "It's an innovation in the way Americans manage and control their financial futures, and it's an innovation in the ease in which these complicated transactions can be executed."

RolloverSystems changed the rollover process forever when it introduced an automated platform that connected retirement investors with financial institutions interested in managing their assets. Before RolloverSystems' automated process, rollovers were manually executed, taking eight weeks or more to complete. With RolloverSystems, candidates fill out one form, instantly compare up to five competitive IRA offers catered to their investment needs and then initiate a rollover transaction online. The process takes less than 10 minutes to complete online or by phone. RolloverSystems applied for these patents in 2001, soon after introducing its platform to the general market.

The company's proprietary process will take on a more prominent role in 2007 as provisions outlined in the Pension Protection Act come into play.

"More responsibility is being placed on plan participants to manage their employer-sponsored retirement plans," asserts Bowser. "As more companies add auto-enrollment, there are simply going to be more 401(k) accounts created and more rollovers as a result. Participants need an objective, agnostic platform in which they can make decisions affecting their financial futures, and we're the only company to offer this."

RolloverSystems automates the rollover of retirement accounts for individuals, employers and financial brokers/advisors alike. In addition to the benefits of an automated process and a choice among competing offers, RolloverSystems enables employers to streamline administrative processes and save on management fees, while advisors enjoy asset retention capabilities.

RolloverSystems boasts the industry's largest independent network of IRA providers, with more than 14 top financial institutions offering investment accounts directly to consumers. The company now provides its comprehensive rollover services to more than 9,000 plan sponsors directly, or through relationships with plan providers, handling rollover transactions for 401(k) and other qualified plans, including 403(b) and government 457 plans.

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RolloverSystems, Inc., is a Registered Investment Adviser with the U.S. Securities and Exchange Commission. RolloverSystems does not offer research or advice on specific securities, nor does the company offer tax advice. The financial institutions on the RolloverSystems network are solely responsible for their products and services. A complete description of RolloverSystems’ services is available to prospective clients in our Disclosure Brochure (Form ADV Part II).
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