Zacks Expands SMA to Mid-Market Plans

Zacks Investment Management, a Chicago-based registered investment adviser (RIA), has expanded its separately managed account (SMA) offering to the mid-size retirement plan market.

According to a news release, Zacks Retirement Plan Solutions is currently available to micro and small defined benefit and defined contribution plans, in a SMA structure. It will now move into the mid-sized part of the market (defined as $20 to $50 million, according to the company).

Zacks said its separate account product is offered as part of its partnership with FOLIOfn Institutional, based in Vienna, Virginia.

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“Years ago, we saw an opportunity to use the same low-cost SMA structure that we incorporate in our private client business in the retirement plan market,” said Andy Zimmer, managing director of Zacks Wealth Management, in the release.

Ascensus Unveils Two RK Services

Ascensus launched SingleSource Select, designed to simplify the consulting process for retirement plan advisers.

A news release said SingleSource Select makes it administratively easy for financial advisers to manage their revenue stream by offering level compensation for the funds their clients choose to offerin their retirement plans.

Ascensus also announced it now offers the LinkInsight Select service that combines the local service of a third-party administrator (TPA) with Ascensus’ recordkeeping capabilities.

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“At Ascensus, we are always looking for ways to help financial advisers establish efficient retirement plans for their clients,” said Neil Smith, senior vice president, Strategic Business Support Services, in the release. “Accordingly, SingleSource and LinkInsight Select services are a natural extension to help their clients efficiently select investment options that provide level compensation to their trusted adviser.”


More information is available at www.ascensus.com.

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