Fundsters interested in the 401(k) business may want to take a look at the latest enhancements released by Bob Reynolds
and his team at Putnam
. Ed Murphy
, head of defined contribution at the Boston-based mutual fund firm, confided to The MFWIre
that Putnam will launch new 401(k) advisor and plan sponsor websites tomorrow, with an emphasis on using real-time data. It's just the latest step in Reynolds' plan to position Putnam as the thought leader in the 401(k) industry.
"They [advisors and plan sponsors] have access to key metrics in real-time," Murphy said. "It's very nimble in terms of ad hoc reporting."
The new sites, designed specifically for the new Putnam 401(k) platform launched a year ago in conjunction with Great-West Retirement Services
(one of Putnam's new sister companies), also feature payroll integration, fee disclosure information, fund monitoring, a fiduciary archive and more. The release follows the launch earlier this year of a similar new site for Putnam's 401(k) participants.
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