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Products May 4, 2010
Benefits Firm Unveils Open Architecture ETF Platform
An employee benefits consulting firm announced it is offering an open-architecture arrangement to allow plans to select from more than 800 exchange-traded funds (ETFs) when developing an investment menu.
Reported by PLANADVISER Staff
A news release from McCready and Keene (MCAK), which has offices in Chesterfield, Virginia, and Indianapolis, Indiana, said the firm can support plans using investments in both ETFs and mutual funds (over 23,000), permitting plan participants to exchange one for the other at the same day’s price at market close.
The list will be updated from time to time as custodial partners provide new information on additional ETFs.
The fees for trading ETFs are determined by the number of shares bought or sold, similar to traditional stock trading fees.
More information is at www.mcak.net.
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