Hot off the presses

Sponsor and Participant Tools 

Portico Wealth Advisors created a complimentary tool to help retirement plan sponsors fulfill their fiduciary duty, called Retirement Plan Diagnostic. It includes an evaluation of the retirement plan document, the investment policy statement, the quality and cost of the underlying investments, and the total fees being paid.

John Hancock Retirement Income & Rollover Solutions(RIRS) launched its Consolidation Services group for retirement plan participants. The new unit was designed to assist 401(k) plan participants who wish to consolidate their retirement accounts into their qualified retirement plans with John Hancock.

Mercer added three services to its benefits administration platform, all related to financial planning: Financial Engines’ Income+ solution, HelloWallet’s financial planning and budgeting solution, and TD Ameritrade’s self-directed brokerage account solution. These features will be integrated into Mercer’s online participant experience and accessible through plan Web sites.

Kravitz is launching a Cash Balance Daily Access online portal, which will give participants, plan sponsors, and advisers “instant access to cash balance accounts, which are updated daily.” Updates to participant account balances are based on the plan’s interest crediting rate (ICR).

Nationwide Financial is expanding its lineup of fiduciary tools and services for retirement plan sponsors and financial professionals with a 3(38) Investment Fiduciary Service from IRON Financial.

The SPARK Institute released a draft of data standards for investment product providers and recordkeepers to help them fulfill their part of the upcoming fee disclosure rules. It suggests ways in which providers and recordkeepers can electronically share investment-related information that retirement plan sponsors must disclose to participants under new fee disclosure rules.

Participants with retirement plan accounts through Principal Financial Group now will be able to access their account information on the go with Principal Mobile. The app allows them to check account balances, track their savings progress, view their personalized rate of return, and review basic account information, including contributions and withdrawals.

MetLife wrote a paper, “Final Regulation on Participant-Level Fee Disclosures,” to help plan sponsors understand their obligations regarding investment-related performance and fee information disclosures to participants of ERISA plans.

Lincoln Trust Company is offering a fee disclosure solution called Personalized Expense Ratio (PER). It allows participants, plan sponsors, and advisers to see the actual cost of their plans without having to perform calculations.

Still River Retirement Planning Software, Inc., launched a simplified, free version of its RetirementWorks II financial software for retirees and near-retirees. The new version offers advice on nearly two dozen financial issues that people in this age group often face.

The Rosenbaum Law Firm P.C., specializing in retirement plan costs, design issues, and liability concerns, formed a partnership with BrightScope to create the “Retirement Plan Tune-Up.” The joint effort incorporates benchmarking information combined with specific recommendations and suggested improvements for company retirement plans.

The Principal launched the EASE Program—Employer Administrative Solutions made Easier—combining distribution, recordkeeping, plan compliance, payroll, and third-party administrator services in one package, to help plan sponsors save time and money, and reduce the burdens of retirement plan administration.

The U.S. Women’s Chamber of Commerce is launching a multiple employer plan for female small-business owners, called SmartRETIRE 401k. It is available to business members of the U.S. Women’s Chamber of Commerce.

Morgan Stanley Smith Barney (MSSB) expanded its Global Stock Plan Software suite with OptionEase, a stock plan administration tool for its partnered solutions offering.

Adviser Tools

Ascensus announced a partnership with Edward D. Jones & Co. to offer its open-architecture retirement plan platform, SingleSource, to a wider client base. The multi-tiered solution offers both third-party administrator and full-service options, and allows clients to construct plan investment menus consistent with their investment policy statements.

eRollover introduced eRollover for Advisors, an online marketing tool for financial advisers that will offer help about growing practices and provide member matchmaking services from the eRollover.com consumer experience.

Pershing LLC, a BNY Mellon company, added more than 20 providers to its ValueAlliance program, which offers Pershing’s broker/dealer, independent registered investment adviser, and hedge fund customers preferred pricing and access to a network of third-party firms and consultants.

Convergent Retirement Plan Solutions developed a subscription-based IRA portal for financial professionals, called IRAstuff.com, which takes a simple approach when discussing complex compliance issues.

Schwab Advisor Services is introducing a consultative program, “Managing Client Profitability,” designed to help advisers grow their business through effective client segmentation.

Dalbar, Inc. developed a fiduciary designation program, called the 401(k) RF Designation, which identifies advisers capable of acting as fiduciaries and puts it in writing.

LPL Financial’s ClientsFirst platform has been revamped to better serve its retirement plan advisers. It is a proprietary client communication and client acquisition system, designed to identify prospective clients, reinforce existing relationships, increase referrals, segment client leads, and implement a marketing strategy with customizable marketing materials.

linkedFA, a social networking Web site that enables financial professionals to leverage social media compliantly, announced the beta release of a mobile version of www.linkedFA.com.

John Hancock Financial Network (JHFN) launched its Defined Contribution Consulting Program that provides advisers working with retirement plans training, practice management consulting, sales support, and expert resources.

Castle Rock Innovations (CRI) is collaborating with the Wagner Law Group and Millennium Investment and Retirement Advisors (MIRA) to increase exposure to its AXIS Retirement Plan Analytic Platform, which was developed to address the Department of Labor’s 408(b)(2) fee disclosure requirements.

Ascensus designed a suite of plan design tools for financial advisers to use with plan sponsors. The tools include a worksheet to help plan sponsors find the right “plan destination” for their current situation and an informational PowerPoint presentation that walks them through all aspects of plan design.

Securities America Inc. is releasing an application called e*Office Mobile, which allows advisers mobile access to business enterprise systems using smartphone or tablet technology.

Advisor Group, an independent network for broker/dealers, will be adding SunGard’s Protegent Social Media Surveillance tool to its VISION2020 Advisor Portal. Protegent will monitor and archive advisers’ content posted to Facebook, LinkedIn, and Twitter. Its alerting, reporting, and pre-approval workflow will help Advisor Group proactively adhere to FINRA books and records surveillance requirements.

Pershing LLC and FA Insight have published a paper called, “Asset Consolidation: Your Path to Greater Growth and Efficiency.” The paper suggests that asset consolidation potentially can double profitability, boost productivity, and advance client relationships.

Schwab Advisor Services announced that Laser App, a desktop software package, will be widely available to advisers that custody with the company by the end of the year. Laser App allows advisers to leverage existing data from their client relationship management system (CRM) and the Schwab Advisor Center Web site to pre-populate forms and applications.

McGraw-Hill Financial Communications and ExpertPlan, Inc., are rolling out a presentation tool for financial professionals to use with 401(k) plan sponsor clients, called the Annual Plan Review Book.

CPI Qualified Plan Consultants, Inc., is releasing a 401(k) program available exclusively to Edward Jones financial advisers. The program provides assistance to financial advisers with identifying new clients, plan design analysis and consultation, and client presentation support through CPI’s 20 regional offices. It was designed to provide a low-cost, flexible, and transparent plan option for plan sponsors of all sizes.

Nationwide Financial chose DST Global Solutions’ investment analytics solution, Anova, to strengthen its managed account performance measurement and reporting capabilities. Anova was designed to enable clients to report managed account performance to their retirement plan clients in a more detailed and timely manner.

Drinker Biddle & Reath LLP created a Financial Services ERISA Team that will help the firm’s financial services clients—including insurance companies, mutual fund and hedge fund advisers, broker/dealers, registered investment advisers, independent recordkeepers, and others—in meeting ERISA regulations for fiduciaries, prohibited transactions, as well as reporting and disclosure rules. Fred Reish will serve as the team’s leader.

The Wagner Law Group, specializing in ERISA, employee benefits, executive compensation, and estate planning, has opened a New York office, near the city of Buffalo.

Commonwealth Financial Network partnered with Broadridge Financial Solutions to offer its advisers access to Broadridge’s Forefield applications. The Forefield suite of solutions includes Web-based education and client communication solutions.

Fred Reish and Bruce Ashton of Drinker, Biddle & Reath LLP have co-authored a paper describing how Securian Retirement’s fee-disclosure and revenue-sharing process can help plan sponsors meet their fiduciary duties. The paper is titled: “Fiduciary Issues Related to the Allocation of Revenue Sharing.”

FCRC Apps, LLC, a software development firm, is releasing version 3.0 of its Web-based application, eFiduciary.net, which is a secure fiduciary governance tool for consultants and plan advisers to use with their plan sponsor clients. It provides customizable document storage, due diligence applications, committee collaboration tools, a survey tool, and a calendar reminder system.

Morningstar Inc. added an asset-allocation and forecasting functionality to Morningstar Direct, a Web-based global investment analysis platform for institutional investors. The addition will allow investors to create asset allocation strategies that account for “fat tails” and are optimized to mitigate downside risk.

Investments

Vanguard launched the Vanguard Emerging Markets Select Stock Fund, an actively managed emerging markets equity fund that will employ four global advisory firms.

MSCI launched a platform to provide asset managers with a suite of tools to better manage environmental, social, and governance (ESG) investments. The platform is twofold: It consists of the MSCI ESG Manager and MSCI ESG Impact Monitor. 

Pershing LLC, a BNY Mellon company, added Altegris, Invesco, and TIAA-CREF funds to FundVest, Pershing’s no-transaction-fee mutual fund platform.

AdvisorShares Investments, a sponsor of actively-managed exchange-traded funds (ETFs), released the Meidell Tactical Advantage ETF, or “MATH.” The fund offers advisers a broadly diversified portfolio that measures the velocity of change in value across asset classes to find the best risk-adjusted returns. Its quantitative tactical methodology seeks ETFs participating in long-term durable trends.

Brinker Capital introduced seven exchange-traded funds to its defined contribution retirement plan offering. The ETFs are based on strategies with graduated levels of risk and reward, ranging from “Defensive” to “Aggressive Equity.”

John Hancock Annuities enhanced its Income Plus For Life optional rider by increasing the deferral credit for newly issued riders from 5% to 6% at age 65 and older. It also created new underlying portfolios, called the Lifestyle PS Series, for exclusive use with the Income Plus For Life optional rider.

Wells Fargo Funds Management announced that the Wells Fargo Advantage Dow Jones Target 2055 Fund (Target 2055 Fund) is now available to investors. The fund seeks to approximate, before fees and expenses, the total return of the Dow Jones Target 2055 Index. The fund offers Administrator, Institutional, and Investor share classes.

Meeder Financial launched the Flex-funds Total Return Bond Fund (FLBDX). The fund seeks total return (consisting of income and capital growth) consistent with preservation of capital by investing in 80% bonds which include fixed-income securities and bond mutual funds.

Munder Capital Management launched the Munder Integrity Mid-Cap Value Fund and Munder Integrity Small/Mid-Cap Value Fund, benchmarked against the Russell Midcap Value Index, and the Small/Mid-Cap Value Fund against the Russell 2500 Value Index.

Van Hulzen Asset Management and Witter Partners have launched the Iron Horse Fund. The mutual fund will invest in dividend-paying U.S. equities and use call options with the purpose of reducing portfolio volatility and creating incremental income. Van Hulzen is adviser to the fund, and Witter Partners is the firm’s strategic distribution and marketing partner.

Charles Schwab has partnered with Broadridge Financial Solutions to expand its global investing strategies. Schwab will launch a multi-country and multi-currency offering in Q1 2012, where Schwab clients will be able to trade in 12 markets and eight currencies. Broadridge will provide the technology needed to support currency trade processing, accounting, and reporting.

Hermes Real Estate Investment Management partnered with UOB Global Capital and Hampshire Real Estate Companies to launch a closed-end commercial real estate income fund, called the HUH US Real Estate Income Fund.

Forward Management, LLC, is introducing a no-load “investor” share class for three of its real estate and infrastructure funds: the Forward International Real Estate Fund (FFIRX), the Forward Real Estate Long/Short Fund (FFSRX), and the Forward Global Infrastructure Fund (FGLRX). 

Nationwide Funds Group is rolling out the Nationwide Alternatives Allocation Fund (NWAAX), a mutual fund offering seven alternative asset classes.

Vanguard announced that it will expand the availability of its Admiral Shares with six additional domestic and international equity index funds; a total of 75 funds now will offer Admiral Shares.

Hennion & Walsh expanded its lineup of proprietary SmartTrust Unit Investment Trust (UIT) portfolios: The Tax-Free Income Trust seeks to provide income that generally is exempt from normal federal income tax and the Growth and Income Trust aims to provide investors with capital appreciation and current dividend income.

MassMutual’s Retirement Services Division enhanced its investment offerings in its lifecycle (target-date) and lifestyle (risk-aware) categories to “better serve retirement plan market needs,” through its Journey series investment options.