Deals & People May 30, 2007

BenefitStreet Offers Barclays’ iShares on New 401(k) Platform

BenefitStreet Inc. will offer Barclays Global Investors’ iShares exchange-traded funds (ETFs) via a new 401(k) platform.
Reported by
According to the BenefitStreet, offering iShares Funds allows advisers who are already offering the ETFs to their clients with taxable accounts to offer them to 401(k) accounts as well. They will also be able to construct asset allocation portfolios using iShares Funds on behalf of plan participants.
According to a press release, the BenefitStreet ETF system distributes the funds directly to investors, circumventing the use of collective trusts and reducing commission costs. Although Barclays’ iShares are currently the exclusive investment choice in BenefitStreet’s ETF 401(k) platform, other ETFs will be added over time, the firm said.
Advisers interested in more information about this ETF 401(k) platform can call a BenefitStreet program manager at 1-888-401kETF or e-mail ETF401k@benefitstreet.com.

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