Products October 22, 2008

ExpertPlan to Provide 401(k) RK Program for Claymore

Claymore Securities, Inc., tapped recordkeeper ExpertPlan to provide a 401(k) recordkeeping and administration solution that includes access to exchanged-traded funds (ETFs).
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The private label platform will include ETF-based target date funds that utilize the collective fund structure, according to a news release.

These collective funds provide broad diversification across multiple asset classes with maturities ranging from retirement through 2050 and are available through this product as the qualified default investment alternative (QDIA), the release said.

Because these collective funds are available on the same 401(k) platform as traditional mutual funds, they are able to trade through this recordkeeping and administration system, according to the release. Financial advisers will have access to a variety of tools, including online proposal generation and marketing support.

“Many advisers have been looking for a solution which provides access to ETFs in retirement plans, and one that can also include mutual funds. With ExpertPlan’s open architecture and the collective funds, there is now a solution for them,” said Mark Tucker, managing director of Claymore Securities, in the news release.

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