Third-quarter account summaries and OnTarget statements are scheduled to be delivered next month. For those clients who have elected to receive our correspondence electronically, be sure to go to ontargetinvesting.com to verify that we have your current email address in our system. If you haven’t already done so, you can contact Client Services at email@example.com or 800-347-3539, ext. 1, to set up e-delivery.
Flexible Plan summer hours
To thank Flexible Plan employees for their hard work and dedication, our office will close at 4 p.m. (EDT) on Fridays through September to allow our staff to enjoy more of Michigan’s great summer.
Rolling back 2020 RMDs
As a reminder, CARES Act legislation passed earlier this year enabled clients with a required minimum distribution (RMD) due in 2020 from a defined-contribution retirement plan—including a 401(k) or 403(b) plan, or an IRA—to skip those RMDs. This includes any client who turned age 70½ in 2019 and would have had to take the first RMD by April 1, 2020. The suspension for RMDs also applies to required distributions from beneficiary IRAs. (Note: This waiver does not apply to defined-benefit plans.)
If clients have already taken RMDs for 2020 but now wish to put those distributions back into their retirement accounts, they can. Clients have until the later of August 31, 2020, or 60 days from the distribution date to repay the distribution and have it treated as a 60-day rollover. For more information about RMD repayments, see IRS Notice 2020-51.
On July 31, E*Trade Advisor Services sent a notice about the RMD rollback to account owners who are eligible for RMDs. A copy of the notice is here.
Use DocuSign for online paperwork
Did you know that you can do business quickly, securely, and from anywhere with DocuSign?
Flexible Plan Investments (FPI) supports DocuSign for electronic delivery of its new account paperwork at E*Trade Advisor Services.
To use DocuSign, simply create our standard Client Agreement/Investment Management Agreement through our website at flexibleplan.com. Select the “Send for electronic delivery” button when setting up new account paperwork at E*Trade Advisor Services. An electronic envelope containing your paperwork will be delivered to you and your client to sign using a digital signature that you and your clients choose. After all signatures are received, the envelope will be automatically sent back to Flexible Plan Investments. It’s that easy.
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COVID-19 update from Flexible Plan
Despite the current circumstances surrounding COVID-19 (“coronavirus”), we continue to be committed to providing our clients and financial associate partners our usual high standard of service while also providing for the safety of our employees. To that end, we have asked nearly all of our employees to work from home. Their absence from the premises will allow us to provide more “social distancing” for the handful of remaining workers. We have also suspended travel.
Here is some other information you should know:
- All levels of our operations—including client service, trading, investment management, and sales support—remain uninterrupted and continue to function at the highest levels.
- We have prepared and equipped our teams with the best tools to work from any location. This allows us to protect our employees and their families while maintaining business continuity during these turbulent times.
- Our technical expertise continues to support the quantitative, dynamic, risk-managed investment services you’ve come to expect for your portfolios in the financial markets.
Nevertheless, as the State of Michigan slowly begins to open different parts of the economy, we too have taken some preliminary steps. Anticipating this gradual reopening, we have begun to allow more of the staff to return with additional protocols such as workstation closures. All are practicing safe distancing and wearing masks, and we are regularly sanitizing common areas.
With our suspension of travel, may we suggest a virtual meeting? We have all of the necessary resources and can help you make it happen. Simply use the following link, and we will take care of the rest: https://flexibleplan.as.me/Sales. Or just give us a call at (800) 347-3539, ext. 2.
Thank you for your continued trust and confidence in Flexible Plan. Be safe.
Low-cost investment option with QFC strategies
For investors with at least $150,000 invested in Quantified Fee Credit (QFC) strategies or at least $100,000 invested in Turnkey QFC strategies, we will waive 100% of the Flexible Plan Investments portion of the advisory fee on QFC strategies in excess of the subadvisory fees paid by the funds used in your account. Look for more information on the policy here.