Hot off the Presses

SPONSOR AND PARTICIPANT TOOLS

The Retirement Advisor Council released a free template request-for-proposal (RFP) questionnaire for 401(k) and 403(b) plan sponsors seeking an adviser. The template covers elements of service including investment, participant and provider services, as well as fiduciary and compliance support.

The Guardian Insurance & Annuity Company Inc. unveiled an “Understanding Plan Fees” website to help plan sponsors and participants understand retirement plan fees and services. Resources include information about fee disclosure, descriptions of service providers and specialists associated with 401(k) plan administration, interactive annotated statements and comparative charts, definitions of key terms, and retirement planning education and tips.

Millennium Trust Company’s Savings Plus IRA [individual retirement account] has been added to ­MassMutual’s rollover solutions, giving retirement plan participants and existing IRA-holders access to: a bank account with a fixed rate of return that can be adjusted quarterly; FDIC insurance; and daily liquidity of the IRA for account holders seeking a predictable level of investment access and security.

A handbook from Russell Investments outlines issues facing corporate pension plan sponsors, such as navigating pension liabilities in the face of new Pension Protection Act (PPA) requirements; managing the pension expense on the income statement; and understanding the impact of defined benefit (DB) plan closure or freezing, and risk transfer options.

The Hartford released the five-step My Retirement Tracker, which permits savers to set savings and income goals, monitor their progress and integrate other financial sources. Users can also estimate their retirement savings at specific ages and see how contributing more to their 401(k) can increase their nest egg.

To help Employee Retirement Income Security Act (ERISA) plan sponsors understand and execute fiduciary responsibilities, MetLife Resources unveiled an online fiduciary assessment quiz. Users are guided through 14 statements on topics such as investment policy statements and potential conflicts of interest. 

ADVISER TOOLS

Web-based software introduced by Commonwealth Financial Network and IPS AdvisorPro helps advisers create fully compliant investment policy statements. Previously created statements can be updated if the client firm changes its investment policy.

Smart Advisor, an online tool from Broadridge Financial Solutions and BlueRush Digital Media, simplifies and automates how advisers publish and track communications, and manages individual investor delivery preferences of document or media types including PDFs, podcasts and videos. A compliance-tracking module offers built-in support to meet upcoming regulatory requirements for point-of-sale communications.

Two technology tools from John Hancock Life Insurance are designed to help with financial planning. The Business Analyzer assists business owners in determining the most appropriate nonqualified plan options for themselves and for key employees. The Estate Tax Calculator enables advisers to project estate values and potential taxes for high-net-worth clients.

Zephyr has upgraded its Analytics Center, making mutual fund data available on StyleAdvisor.com for investment professionals globally. The analytics were expanded to allow access to returns, peer comparisons, risk return and modern portfolio theory; the center now also offers complimentary mutual fund analysis.

The Financial Planning Association is offering FiPath for Advisors tools to members through a collaboration with FiPath. Members will have access to: ReferMyAdvisor, an automated online referral product; a member-match program to connect advisers with potential clients; a webinar platform for member education and connection with peers; collaborative interactive online forums to share expertise; and opportunities for content contribution, exchange and visibility.

Schwab Retirement Business Services rolled out an advisory support tool and program suite that combines investment management tools with fiduciary and plan-design training. It also includes a customized version of the fi360 Toolkit. Schwab tapped fi360 and The Retirement Advisor University for its product suite, with additional collaboration from UCLA Anderson School of Management Executive Education.

Practice management seminars, a sample service agreement and educational materials are among the supports The Hartford rolled out for advisers, to explain 401(k) and other defined contribution (DC) fees.

LPL Financial enhanced its portfolios platform, Model Wealth Portfolios, with new strategies and increased flexibility for the firm’s advisers and clients, as well as lowered account minimums required to participate. Other changes include the additions of AlphaSimplex Group, J.P. Morgan Asset Management and Morningstar Investment Services, and models from LPL Financial Research and BlackRock.

John Hancock unveiled a program to help advisers demonstrate value and build stronger client relationships. An included guidebook features plan sponsors’ observations about what retirement plan advisers bring to their plans, such as: superior retirement outcomes for participants, superior fiduciary expertise and improved compliance, improved plan design, advanced investment plans, and more reasonable fees and overall plan costs.

Global Relay updated its Twitter archiving software to help advisers meet Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations. The Global Relay Archive, which captures, indexes and archives Twitter communications, also enables advisers to instantly search across all message types and access a range of tools for supervision, monitoring and compliance review. 

INVESTMENTS

Standard & Poor’s designed its new Target Date Style Index Series to help plan sponsors compare “to” versus “through” glide paths for target-date funds (TDFs). Multi-asset class indices—each corresponding to a different target retirement date—classify funds into two subgroups, according to asset allocation and glide paths. Each index is fully investable, with varying levels of exposure to the asset classes determined during an annual survey process.

Condor Trading LP moved into asset management with the launch of a new venture, Pacific View Asset Management LLC, which offers two funds: International Small Cap and Global Small Cap. Pacific View is building a multistrategy and multi-investment team platform that provides asset management services to institutional clients and investors worldwide.

Huntington Asset Advisors released a second actively managed exchange-traded fund (ETF), the U.S. Equity Rotation Strategy ETF, to seek capital appreciation in any given market environment. The ETF invests in U.S. companies and in all 10 industry sectors within the S&P Composite 1500.