BrightScope Unveils Adviser Service

BrightScope is a service that allows anyone to look up 401(k) plan data, which is gleaned from public sources such as Form 5500s and directly from plan sponsors. In July, the firm launched an offering for plan sponsors to compare their plans against a group of similar companies (see “BrightScope Launches 401k Plan Management Dashboard”).

Now the firm is marketing to advisers with Advisor Central 1.0, an interface that enables advisers to search by plan design and investment criteria among more than 12,000 plan evaluations to find plan sponsor clients in need of their services. BrightScope said the tool allows advisers to quickly identify plans to fit a target market, and to find and address critical pain points for plan sponsors.

Furthermore, BrightScope said its search and sort capabilities designed to save advisers time.