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Products March 18, 2022
Advisers Can Access ‘Green’ 401(k) Option For Clients
The retirement plan solution for small and medium-sized plan sponsors is offered in partnership with Vestwell and Ubiquity Retirement + Savings.
Reported by Rebecca Moore
Carbon Collective, an online investment adviser focused on climate change, has launched a “green” 401(k).
The retirement plan solution is provided in partnership with Vestwell and Ubiquity Retirement + Savings. Plan sponsors that sign up for the offering will be a client of either Vestwell or Ubiquity, and Carbon Collective provides portfolio management. The company says the 401(k) offering works with all cloud-based payroll providers.
Carbon Collective creates and manages three categories of investment portfolios: climate-focused, environmental, social and governance, and generic retirement date. It says its 401(k) portfolios cover more than 80% of U.S. stocks by market cap.
Vestwell and Ubiquity both charge a flat platform fee plus a fee per employee per month, and Carbon Collective charges a standard management fee of 0.25% of all assets under management per year. The company says the fee is midrange for small and medium-sized plan sponsors.
“Enable employees at your company to save for retirement in low-fee, diversified, mission-driven portfolios,” the company’s website says.