Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products September 28, 2012
American Funds Introduces Multi-fund RK Tool
AmericanFunds rolled out a multi-fund version of its Recordkeeper
Direct tool, with the goal of providing advisers more investment and pricing flexibility.
Reported by PLANADVISER staff
Recordkeeper Direct offers more than 80 investment choices from 20-plus investment managers in addition to the American Funds lineup.
The original Recordkeeper Direct was designed to handle the micro market, where a typical plan has less than than 20 participants and under $1 million in assets, according to Bill Anderson, director of retirement plan services at American Funds.
“With many plans, [the] sponsors and participants wind up paying more in recordkeeping fees each year as the assets in the plan increase,” Anderson said.
The multi-fund version is a tool for the $1 million to $20 million market, with recordkeeping fees based on a fee of $2,500 per plan and $50 per participant.
You Might Also Like:
Principal Launches Workplace Personal Investing Program for Mass Affluent
The adviser solutions program started in Q3; meanwhile, the firm’s asset management arm will release its first passive TDF in...
Recordkeepers Talk Collaboration, Challenges in Adviser Relationships
Recordkeepers on a PLANADVISER 360 panel said relationships work best when advisers know their growth strategy and needs.
How Recordkeepers Can Stay Competitive
Accenture, fresh off its partnership with TIAA, says scale or specialize.