New FPI website coming 10/6

We’re always looking for ways to improve your FPI experience. As part of that effort, we are giving our website a fresh new look with your needs in mind. The redesigned flexibleplan.com will feature streamlined navigation to the features you use most, as well as enhanced security. Make sure to take a few minutes to tour the new site!

Important announcements from E*Trade Advisor Services

Morgan Stanley acquires E*Trade Advisor Services

Morgan Stanley’s acquisition of E*Trade Advisor Services has been in the works for several months. Last week, we received an announcement about the completion of the transaction along with the company’s FAQ, available here.

If you have any questions or would like to learn more, please contact our Client Services team at 800-347-3539, extension 1.

Account address changes

To protect the safety of client account data, E*Trade will no longer accept client address, email, and phone number changes by email. E*Trade will require either a signed Letter of Instruction or the completion of the Change of Address form, available here.

Trusted contact person

E*Trade has added the Trust Contact Person feature to client accounts. The account owner can designate a trusted contact person as the authorized party for E*Trade Advisor Services to contact and disclose information to if there is a concern about their account. The trusted contact person cannot view account information, execute transactions, or inquire about account activity. The trusted contact person may be asked to confirm the client’s current contact information if they are unreachable, confirm the account owner’s current health status, or be notified of any possible financial fraud. The form to add a trusted contact person is available here.

Liberty access for new accounts

E*Trade Advisor Services will no longer use the client account number as the username for access to Liberty. New clients will receive a temporary username in their welcome letter. Once a client is logged in to Liberty, they can change their username and update their password.

Fusion Prime Longevity Fee Credit Program

Clients who are eligible for the Fusion Prime Longevity Fee Credit Program received a letter in August notifying them of their eligibility. Eligible clients who maintained the minimum balance requirements and are invested in Fusion Prime will receive a 5% fee credit based on the quarterly gross fee of the Fusion Prime account. The fee credit will be paid after October 31, 2020, in the form of a Visa gift card. Clients are required to register at www.flexibleplan.com/fusionprime. The deadline to register for the Q2 credit is October 15, 2020.

Third-quarter statements

Third-quarter account summaries and OnTarget statements are scheduled to be delivered soon. 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 clientservices@flexibleplan.com or 800-347-3539, ext. 1, to set up e-delivery.

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.) 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.

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.