A news release from 401kDIRECT said advisers can now use its CIF marketplace to review and select CIFs for their plan sponsor clients.
The company said the funds are sub-advised by national trust companies and consulting firms and represent a variety of investment styles allowing advisers to better meet differing client needs.
The advantages of CIFs include transparent pricing, lower net costs, and access to professional money management. In addition, the funds are priced and traded in a daily environment and are not subject to many of the restrictions of mutual funds, such as early withdrawal penalties, the announcement said.
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