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Products August 3, 2010
Newkirk to Distribute NewRiver’s Prospectus Express Product
NewRiver, Inc. and Newkirk Products, Inc. have entered into an agreement for Newkirk to distribute NewRiver's Prospectus Express product in the 401(k) and 403(b) markets via Newkirk's Fund Central platform.
Reported by None
A press release said Prospectus Express provides electronic delivery of compliance grade prospectuses and other disclosure documents for mutual funds, ETFs, UITs and other prospectus-delivered securities. Fund Central is a gateway for providing online performance and investment information to retirement plan participants.
Implementation is expected to be completed in early September.
As part of the agreement Newkirk will use NewRiver’s Virtual Document Warehouse (VDW) as it shifts from pick and pack delivery of paper compliance documents to print on demand (POD) for first-dollar-in and fund-change-notice applications. Newkirk customers will be notified about this service’s availability at a future date.
“From a compliance and cost point of view, printing six page Summary Prospectuses digitally, when required, is superior to the legacy method of printing to stock, transporting, then assembling compliance packages at a distribution site,” said Russell Planitzer, Chairman and CEO of NewRiver, in the press release.
More information about Prospectus Express and Virtual Document Warehouse can be obtained at http://www.newriver.com. More information about Fund Central can be obtained at http://www.newkirk.com/nfc.cfm.