Deals & People May 30, 2014

Ingham Retirement Adds LPL Worksite Solutions

Ingham Retirement Group added LPL Financial LLC’s employee advice and education solutions to its retirement planning platform.
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Clients of Ingham Retirement Group can now access LPL’s Worksite Financial Solutions, which allow plan participants to receive customized advice through online tools that factor in key data on each participant’s financial picture and life stage.

As LPL explains, after completing a detailed on-boarding process, participants using the Worksite Financial Solutions can elect to receive personalized advice through the system or manage their accounts on their own. Participants can elect to receive advice all the way through retirement, LPL says, and sponsors benefit from better-informed employees and plan administration support. 

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By adopting the Worksite Financial Solutions platform, Ingham Retirement Group hopes to help its retirement plan advisers better address the needs of plan sponsor and participant clients throughout their financial lives, the firm says. The new partnership will also create significant opportunities for LPL Financial advisers to provide advice services to the more than 190 plans representing approximately $1.1 billion in retirement assets currently served by Ingham Retirement Group.

Ken Ingham, president and CEO of Ingham Retirement Group, says his firm looks forward to implementing custom-tailored, participant-level advice programs through the Worksite Financial Solutions. “By working together to offer this next generation of personalized financial guidance to plan participants, we are putting the financial future of the American worker ahead of proprietary but fragmented solutions,” he adds.  

The Ingham Retirement Group is a national, independent, full-service retirement plan consulting and investment advisory firm. Ingham also provides recordkeeping and actuarial services. More information on the firm is available here.

LPL Financial LLC is an independent broker/dealer, a registered investment adviser (RIA) custodian and a wholly owned subsidiary of LPL Financial Holdings Inc. More information is available here.

Products May 30, 2014

Miracle Mile Advisors Unveils ETF Retirement Platform

Miracle Mile Advisors, a California-based investment advisory firm, has partnered with TD Ameritrade to launch a “modern 401(k) platform” built around low-cost exchange-traded funds (ETFs).
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The corporate retirement plan offering provides access to over 800 ETFs covering a wide variety of asset classes and investment styles. The all-in annual fees of the plan are projected to be slightly less than 1%. The firms say this represents a substantial savings opportunity for plans and participants who can pay as much as 2.5% of assets annually in fees under more traditional 401(k) arrangements.

In addition to the competitive fee structure of ETFs, the plan features custom portfolio modeling, on-site investment education support and benefits integration assistance.

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“ETFs have soared in popularity over past few decades,” says Duncan Rolph, managing director of Miracle Mile Advisors. “Miracle Mile Advisors has long recognized that diversified index ETFs with lower fees deliver better results than higher-cost mutual funds with underperforming portfolio managers.”

The new offering is similar to an all-ETF platform launched earlier this year by Charles Schwab Retirement Plan Services (see “Schwab Introduces All-ETF 401(k) Platform”). A discussion of the potential pros and cons of all-ETF 401(k) platforms is available here.

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