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Products October 12, 2010
BrightScope Unveils "BrightScope Beacon"
BrightScope
announced the launch of BrightScope Beacon, a fund-focused analytics software
product designed to help defined contribution investment-only firms better
understand the distribution of their funds within 401(k) plans.
Reported by Fred Schneyer
According to a news release, Beacon enables more precise distribution strategy and resource allocation, helps identify strengths and weaknesses in a fund company’s product set, and uncovers hidden opportunities for growth.
For all of its products, BrightScope obtains its data directly, either from plan sponsors, or from publicly available sources ranging from The United States Department of Labor (DOL) to the Securities and Exchange Commission (SEC). Additionally, BrightScope receives investment data from Xignite.
“Beacon brings higher quality data and analytics to the competitive 401k fund distribution market,” said Ryan Alfred, Co-Founder, President, and Head of Product at BrightScope. “Previously investment managers have operated with an incomplete view of their distribution, limiting them to simple, undifferentiated distribution strategies. Beacon helps managers use plan level market intelligence to drive strategic firm level decision-making and create meaningful, measurable opportunities for their sales force.”