Products January 11, 2008

Fidelity Enhances Advisor 401(k) Platform

Fidelity has made significant changes to its Adviser 401(k) platform, including introducing a new custom pricing schedule.
Reported by

The firm has:

  • left its standard pricing schedule for Fidelity Advisor 401(k) in favor of a custom pricing model where price is determined by individual plan parameters, such as plan size, number of participants, number of eligible participants, plan services, and the selection of investment options;
  • eliminated the Fidelity Advisor 401(k) proprietary fund requirement; and
  • consolidated the two Fidelity Advisor 401(k) offerings, Premium (plans with 100 participants or greater) and Premium 100 (plans with less than 100 participants), into a single product offering.

According to company spokesman Steve Austin, these changes are “possibly the broadest enhancements made to the Fidelity Advisor 401(k) platform since its inception.’

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Products January 10, 2008

Diamond Advisors Announces Quality Growth Fund

Diamond Portfolio Advisors, LLC, an institutional money manager, has launched a mutual fund based on its track record in managing high quality growth stocks.
Reported by

According to the announcement, the Quality Growth Fund is the first in a series of funds to mirror the firm’s growth strategies under the Diamond Portfolio Investment Trust. The firm’s investment strategy layers an analysis of corporate culture on top of quantitative screening focusing on companies with consistent double digit growth prospects.

The fund is available in several shareholder classes, and Diamond managing director Jay Rogers said in the announcement the firm is currently negotiating with several mutual fund platforms to make the fund available to a wide spectrum of investors, both retail and institutional.

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Diamond Portfolio Advisors is the adviser to the fund and all shareholder services have been outsourced to Commonwealth Shareholder Services based in Richmond, Virginia.

For more information contact Franklin A. Trice III with The Commonwealth Companies at (804) 267-7415 or Jay Rogers with Diamond Portfolio Advisors, LLC at (310) 443-4236.

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