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Brokerage to Platform Plan Specs Changes in Relius

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I need to switch investments in plan specs to allow the use of an allocated link on a balance forward plan. After making the changes (added Voya as investment and generated accounts for everyone), I am unable to run a profit sharing transaction, and I am not sure where the disconnect might be. Also, how should the brokerage account assets be transferred over to the new record keeper platform accounts within relius to reflect the actuality of the account balances at their new record keeper platform? Any guidance is greatly appreciated

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When you run your profit sharing transaction - select the new VOYA profit share source account (assuming that's where the contribution will go?).  I think the transaction doesn't know which investment to use and if you don't have investment elections in each individual participant account, the transaction won't run because it doesn't know which investment to use.

As to the transfer - if you have the managed accounts brought up to date in Relius as of "x" date, then you should be able to do a transfer transaction by account and move 100% of the managed to VOYA.  As long as your pooled accounts were tracked by source, it's not really any different that a client moving from one investment platform to another (i.e. Empower to VOYA or American Funds to VOYA, etc.).

I hope this is helpful.


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I ran into an issue when I used the allocated like for a John Hancock case.  Make sure you have at least one Voya investment selected in the investment funds for the Plan.  It does not matter which Voya investment it is... Relius just needs one in the specs in order to connect the allocated link.  

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