ExpertPlan Unveils ExpertNvest: First Fully-Managed, Independent 401(k) Plan Solution

Share Article

Leading private label retirement plan recordkeeper ExpertPlan today announced the launch of ExpertNvest, a precedent-setting 401(k) retirement solution for both plan sponsors and financial advisors. With ExpertNvest, ExpertPlan has partnered with Chicago-based Morningstar Investment Services which will assume co-fiduciary status for both the investment funds selected and maintained in the plan and the investment management of participant accounts. Such a program alleviates much of plan sponsors' fiduciary exposure, a major concern particularly given class action litigation and the recent Supreme Court ruling allowing participants to bring legal action against plan trustees.

News Image
ExpertNvest is also ideal for advisors who are unable to act as an investment fiduciary for retirement plans.

Leading private label retirement plan recordkeeper ExpertPlan today announced the launch of ExpertNvest , a precedent-setting solution for both plan sponsors and financial advisors that provides a new level of independent investment management as well as fiduciary relief for 401(k) retirement programs.

With ExpertNvest, ExpertPlan has decided to partner with Chicago, IL- based Morningstar Investment Services, a prominent investment advisor for high net worth individuals. Morningstar Investment Services shall assume co-fiduciary status for both the investment funds selected and maintained in the plan and the investment management of participant accounts. Such a program alleviates much of plan sponsors' fiduciary exposure, a major concern particularly given class action litigation and the recent Supreme Court ruling allowing participants to bring legal action against plan trustees.

Morningstar Investment Services will also provide the heavy-lifting for companies by selecting carefully screened low-cost mutual funds as well as providing on-going monitoring and fund replacement. Participants can realize a higher degree of investment sophistication and a portfolio tailored to their personal investment horizon and risk tolerance. Anticipating proposed Department of Labor fee disclosure rules, any revenue-sharing provided by the fund is disclosed.

"ExpertNvest is the answer particularly for those employers who have been reluctant to offer a retirement plan due to liability concerns and the challenge of understanding the costs associated with offering a plan," said Julian Onorato, CEO of ExpertPlan. "ExpertNvest is also ideal for advisors who are unable to act as an investment fiduciary for retirement plans."

About ExpertPlan
ExpertPlan Inc., headquartered outside of Princeton, NJ, is the premier provider of private-labeled recordkeeping solutions to asset management firms, TPAs, RIAs, broker dealers, insurance companies, CPAs, payroll companies and banks that serve 401(k) and other defined contribution plans. The firm's scalable recordkeeping solution can be customized to fully integrate with a client's business and distribution models.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

SANDRA MARQUARDT
Visit website