Products January 26, 2009

New Company Offers Enrollment Solution

ijoin has introduced a new turnkey 401(k) enrollment solution it says will offer greater efficiency and effectiveness while helping participants make sound investment choices.
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With ijoin, participants are led through a personalized decision-making process via mobile Web technology, according to a press release. The process includes a secure, encrypted mobile Web portal which can be customized for DC providers and plan sponsor clients.

ijoin captures and integrates plan and provider data with personal information input confirmed real-time by plan participants during the enrollment meeting. The company claims the new product’s process and technology will:

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  • Help participants make the right choices
  • Increase participant contributions and rollovers into DC plans
  • Provide documented results for plan fiduciaries
  • Increase plan sponsor and participant satisfaction
  • Provide a unique competitive advantage to increase sales.

The release said a number of pilots are scheduled for large plans in March 2009.

ijoin was designed collaboratively by Fred Greenstein, Kendall Kay, Win Cody, and Joe Brummel, all veterans of the retirement industry. Greenstein develops and sells online databases, market intelligence, and business process tools to the retirement industry; Kay, now a DC industry business development consultant, was previously SVP of Marketing for Manulife/John Hancock and ADP Retirement Services; Cody founded ExpertPlan and has helped build and improve recordkeeping systems for providers; and Brummel is an retirement plan and investment adviser with Financial Concepts and NFP.

ijoin is a product of Left Coast Solutions, Inc., whose technology partners include SPRINT Business Solutions and iGate Global Solutions Limited, the press release said.

For more information, contact Kendall Kay, CMO of ijoin at 617-803-6344 or KKay2@me.com.


 

Products January 26, 2009

ProNvest Introduces Open Platform of Portfolio Managers

ProNvest Inc. has rolled out a new service designed to assist plan sponsors with their fiduciary liability in offering managed accounts.
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Through the new service, ProNvest approves and integrates multiple investment managers or registered investment advisers (RIAs) into its managed account platform and conducts ongoing due diligence in accordance with Pension Protection Act of 2006 (PPA) guidelines pertaining to investment advice and managed accounts.

According to the press release:

  • ProNvest’s due diligence and monitoring services enhance the plan sponsor’s efforts to fulfill its fiduciary responsibility in the selection and monitoring of investment managers.
  • ProNvest helps enable the plan sponsor to select the investment manager that best meets the needs of its plan instead of using a single managed account offering that is integrated into the provider.
  • ProNvest helps reduce provider fiduciary liability by engaging the plan sponsor in much of the due diligence effort required.
  • ProNvest standardizes the integration and operation of each investment manager into its platform so that there is a single integration with each provider, even if the plan decides to change investment managers at a later date. Single integration helps eliminate additional integration costs, minimizes ongoing support of data connections, use of IT resources, and helps eliminate potential service disruption to participants when changing investment managers.

More information is at www.ProNvest.com.

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