Meet ‘AVA,’ a TSP change that affects more than just the investment window
While participants who satisfy specific criteria can invest a portion of their accounts in outside mutual funds, which has garnered the most attention among the planned reforms, the TSP is also emphasizing other new features, such as an artificial intelligence chat-bot known as “AVA.”
The TSP said in a statement detailing features coming in June that AVA will be available 24/7 through tsp.gov and an app to “provide a secure means to ask inquiries about your account and will even link you to a live Thrift Line agent through chat during work hours, when necessary.”
That will be one of the several ways the TSP will encourage more transactions online and through the upcoming app, including a new feature in “My Account” for messages, documents, and statements about the account, the option to opt-in to receiving text messages for transaction confirmations, and quarterly statements will be posted rather than mailed by default.
Almost all transactions on the website will be available on the app, including transactions, tracking investment performance, altering investment elections, and submitting specific forms and documents, according to the company. The software will allow users to log in using biometric controls such as fingerprints or facial recognition.
In addition to this, account holders will have a new ability to shift money from one or more specific funds to another particular fund or funds without affecting the balance of the account. Now, moving money already invested requires a new percentage allocation for all chosen funds.
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Mark, a lifelong Tulsan graduated from Westminster College, Fulton, Missouri with a Bachelor of Arts in Accounting. Mark served in the United States Army as a Captain in the 486th Civil Affairs BN. Broken Arrow, Oklahoma and retired in 1996. Mark is married to his high school sweetheart Jenny and has four beautiful children. Mark’s passion for his work, which includes over 20 years in the Financial Industry started as an Oklahoma State Bank Examiner. Mark examined banks throughout Oklahoma gaining a vast knowledge and experience on bank investments, small business and family investments. Mark’s experiences include being formally trained by UBS Wealth Management, a global investment firm where he served as a Financial Consultant specializing in Wealth Management for individuals & families. Mark is a licensed Series 24 and 28 General Securities Principal and an Introducing Broker Dealer Financial Operations Principal. Additionally, Mark is a Series 7 and 66 stockbroker and Investment Advisor focusing on market driven investments for individuals, businesses and their families.
Mark specializes in providing financial knowledge, ideas, and solutions for federal employees, individuals, families and businesses. We serve as your advocate, and assist you in the design and implementation of financial strategies while providing the ideas to maximize your security and wealth. Our goal is to give you maximum control of your financial future. We provide the expertise to help you with personal issues such as: practical tax Ideas, risk management, investment solutions, and estate preservation.
Additionally, we’ve counseled hundreds of employees on their transitions from careers in federal government, and private industry to their next life stage, whether that is retirement or a second career. We specialize in devising strategies that roll your TSP, 401(k), pension plan, to a suitable IRA to meet your objectives.
Disclosure:
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