Products May 18, 2009

TPA P&A Adds ETFs

Buffalo, New York-based P&A Retirement Plan Services has announced a program that allows participants of defined contribution plans to buy and sell ETFs like mutual funds.
Reported by
According to a press release, P&A Retirement Plan Services, part of the Buffalo, NY based P&A Group, is an open-architecture defined contribution recordkeeper and Third-Party Administrator, providing services to employer sponsored retirement plans. The firm notes that, while “ETFs have long been attractive to fee-based financial advisors due to their low costs, diverse selection and their ability to trade like stocks but until now, they have been administratively difficult to utilize in retirement plans. “
P&A401(k), P&A403(b) and P&A457, working with Mid Atlantic Trust Company’s ETFxChange platform, now offer advisers the opportunity to access over 800 ETFs that the firm says “trade just like mutual funds,” and “…without the performance drag associated with other ETF offerings.” The firm says that advisers can now utilize any combination of ETFs and mutual funds seamlessly in the same plan, including the ability to create model portfolios.
“For plan sponsors and advisors who have been searching for a clean, easy to use ETF solution, this is the perfect answer. We are extremely excited to roll this out at a time when there is so much attention being paid to reducing plan level fees and expenses,” said Sean Zent, Vice President of Retirement Plan Sales.
In addition to its Buffalo, NY headquarters, P&A maintains sales offices in Atlanta, New York City and Los Angeles. More information is available at www.padmin.com.

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