How PlanPerfect’s Open Fund Architecture Can Benefit You
A recent study shows that most people are completely unaware of the hidden fees and expenses that are charged within their retirement plan. Since 2009, the Federal government mandates that all plans are required to disclose these “hidden” fees.
With an Open Architecture 401k platform, all fees are already transparent. In addition, the Plan Sponsor (the business owner) has the freedom to select from the entire mutual fund marketplace with access to many institutional class funds. Compare this to pre-determined (aka proprietary) “bundled” fund menus traditionally offered by banks, insurance companies and mutual fund houses.
In many cases, the Plan Sponsor can reduce a plan’s fees and expenses by selecting the most appropriate plan and investment options. Surprisingly, most Sponsors fail to make any effort to reduce these costs, which can have a negative impact on retirement income. An Open Architecture platform allows business owners and advisers to select an investment lineup that is solely in the interests of the Plan and its participants, with no front-or back-end fees.
And, it allows plan participants who could not meet minimum requirements to take a slice of a single, separately managed account. Thus, an investment vehicle previously restricted to high net-worth individuals, or to very large retirement plans and institutions, is now available to these participants.
PlanPerfect’s Open Architecture solution provides:
- Access to virtually any mutual fund
- Freedom from any packaged or bundled 401k platform
- Complete autonomy to create a customized, investment menu
- A self-directed brokerage option
For more information on Open Architecture and how it can benefit you, please call Sheree Tallerman at PlanPerfect Retirement, Inc. at 917-828-5888 or email sheree@planperfectretirement.com