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Products April 7, 2009
401kDIRECT Teams Up to Offer ETFs
401kDIRECT launched a new program that gives advisers, third-party administrators (TPAs), and plan sponsors access to exchange-traded funds (ETFs).
Reported by Rebecca Moore
The ETFs will be available for 401(k), 457, and 403(b) plans on the 401kDIRECT platform through the Mid Atlantic Trust Company’s ETFxChange Program, according to a news release.
Key features of the offering, which is offered in bundled and un-bundled 401KDIRECT programs, include the ability to trade like mutual funds and the availability of “virtually unlimited trading,” according to the company. It can also be offered alongside traditional mutual funds.
Advisers and TPAs can create 12b-1 payouts, according to the release.
More information is available at www.401k-direct.com or by calling 800.571.5104 ext. 2.
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