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 The
market for retirement planning solutions among individual investors spans multiple
generations – young investors just entering their earning years, baby boomers getting
ready for the next phase, and retirees focused on generating income and leaving
a legacy for their families. NRP Financial offers a wide array of retirement products
and services to help advisors meet the diverse needs of their clients.
Individual Retirement Accounts (IRAs)
Individual Retirement Accounts (IRAs) are one of the most popular vehicles for retirement
savings. There are different types of IRAs, each with their own tax implications
and eligibility requirements:
Traditional IRA – investments
in a traditional IRA grow tax-deferred, which means investors do not pay current
taxes on gains. When money is withdrawn from the IRA in retirement, the distribution
is taxed as ordinary income. However, if money is withdrawn before age 59 ½, a 10%
tax penalty may apply. Contributions to a traditional IRA may or may not be tax
deductible depending on income level.
Roth IRA – while there is
no tax deduction for contributions to a Roth IRA, investments grow tax-deferred
and distributions are tax free as long as certain conditions are met.
Rollover IRA – distributions
from qualified plans such as 401(k) plans may be rolled directly into a Rollover
IRA. Rollover IRAs may provide greater flexibility and are a great tool for consolidating
multiple 401(k) plans from previous jobs.
Through NRP Financial, advisors have access to multiple choices for establishing
an IRA:
- Direct Account with Product Provider, including mutual fund and insurance companies
- Brokerage IRA Account with Pershing, LLC as custodian
- Advisory IRA Account through the Global Portfolio Solutions platform
In addition, our open architecture product platform enables advisors to select the
individual investments that best fit individual client needs and financial objectives.
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