MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 10, 2010 A 401k Provider Helps Fund Firms Track Flows Fundsters interested in distributing through 401(k) plans may want to take a look at a new service from Lincoln Trust Company. Tom Gonnella, senior vice president of corporate development, confirmed that the Denver-based retirement plan and IRA provider is now offering reporting capabilities for defined contribution investment-only players (like mutual fund firms) who want to accurately compensate their wholesalers for retirement plan flows. Since 401(k) flows go through third-party custodians for entire providers, keeping track of where such flows come from (in terms of specific retirement plans and regions) can be a challenge. "We provide quarterly reports so they know whom to compensate, and when," Gonnella told The MFWire, noting that Lincoln then receives leads from those mutual fund firms. "Their wholesalers will refer plans to Lincoln Trust Company for recordkeeping." Gonnella confided that four mutual fund firms (including one ETF provider) are already tapping into the service. Lincoln even customizes its Advantage 401(k) platform for these mutual fund partners, teaming with an outside fiduciary to create a lineup of 15 to 17 investment options, focused on the partner fund firms' offerings, to allow retirement plan advisors to set up such plans without picking the funds themselves. Printed from: MFWire.com/story.asp?s=33924 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |