This document summarizes a business analysis case study of a financial firm's IRA simplification project. The firm wants to increase its market share in retirement accounts but faces challenges from decentralized processes and long transfer times. The analysis identified key teams and systems involved, interviewed stakeholders, mapped the account opening, monitoring, and funding processes, and found errors, bottlenecks and opportunities for improvement. The proposed solution is a three-generation phased rollout to streamline the process through training, increased automation, and consolidation of tools and support groups. Detailed multi-generational process charts were created to outline the plan for financial advisors, self-directed clients, and full service clients across account opening, monitoring, and funding stages.

1. IRA Simplification Project
A comprehensive analysis of process, systems, and teams for a complex financial transaction
A Business Analysis CASE STUDY
A top-tier financial firm wants to increase its market share in a booming Retirement
Market, but is hampered by a range of challenges: Decentralized processes that won’t
support planned growth; transfers that take twice as long as the industry average; a lack
of adequate tracking to monitor problems; and a high level of frustration with the details
and complexities of the process.
IRA Simplification Project A Business Analysis CASE STUDY
This financial firm has two distinct internal IRA
organizations consisting of Full Service and Self
Directed. The goal for both organizations are the
same, gain significant IRA market share and
become a top tier player. Position themselves to
attract and capture wealth transfer driven largely
by aging baby boomers (ages 45-65).
Interviews throughout the organizations to
understand the current process flows were
conducted in order to produce detailed maps.
These maps include: Executive Summary; Full
Service IRA Processing - Non-ACAT 401k; Self
Directed; Account Opening - Web Request;
Account Processing; Web Request Linking;
Account Funding Liquidation: Cash, Wire, In-Kind
Securities and Mutual Funds.
This allowed us to identify error points, bottle
necks, opportunities for automation and
consolidation.

Series of detailed maps to help
understand the various
components of the retirement
asset transfer process
A problem like this requires an in-depth analysis at many levels to develop a holistic solution:
Identification of the systems and teams involved; interviews with key players on each team;
studies of the details of each process; and how the processes relate to one another.
Additionally the challenge is to convey the finding and build a consensus around the proposed
solutions.
Introduction
Current Process

2. IRA Simplification Project
A Business Analysis CASE STUDY
Multi-Generational Process Charts
IRA Simplification Project A Business Analysis CASE STUDY
We identified problems throughout the
three stages of Account Opening,
Monitoring, and Funding for the current
state. We provided solutions, which
include: Best Practices; ACAT eligible
member checks early in the process;
improved reporting; and account tracking
for the Financial Advisor, Full Service
Client, and the Self Directed Client. These
solutions can be accessed and acted upon
by the Retirement Help Desk and the
Market Director Level as well.
We proposed a phased rollout across three
generations: Generations I - Quick
improvement to the existing process
through training and best practices;
Generation II - Increased automation and
better systems integrations; Generation III
- Consolidation of tools and support groups
within the process.

Series of charts designed to outline the
plan for the Financial Advisor, Self
Directed Client, and Full Service Client in
three stages: Account Opening; Account
Monitoring; Account Funded & Follow up.
This is a complicated process involving many people, organizations, systems, and
methodologies. By capturing the current process flows and charting detailed solutions step by
step it will allow the firm to realize its goals for increasing its performance in the lucrative
Retirement Market.
In Closing
Multi-Generational Process Charts