For more stories like this, sign up for the PLANADVISERdash daily newsletter.
Products January 31, 2019
OneAmerica Launches CIT Research Tool for Advisers
The CIT product information database was created in collaboration with Broadridge Advisor Solutions and is designed to support the client service needs of financial advice professionals.
Reported by John Manganaro
OneAmerica has established a new tool for advisers interested in learning more about collective investment trusts (CITs) as a potential investment option for retirement plan clients.
The tool, created in collaboration with Broadridge Advisor Solutions, is essentially an online repository of CIT product information.
“CITs are popular due to their flexibility and cost effectiveness, but a disadvantage that exists is the inability to quickly and easily find information about the funds and important documents such as a declaration of trust,” the firm says. “This new online portal provides quick and easy access to these types of information on-demand.”
Terry Burns, assistant vice president of products and investments at OneAmerica, says CITs are quickly becoming popular in small and large retirement plans. He says CITs are attractive to some plan advisers because the overhead associated with compliance and regulation isn’t as time-consuming as traditional mutual funds, making them a cost-effective option for plans. CITs have evolved over time and many of them are clones of traditional mutual funds, he adds.
The website is: https://OneAmerica.com/CIThub.