Many advisors have been looking for a solution which provides access to ETFs in retirement plans, and one that can also include mutual funds. With ExpertPlan’s open architecture and the collective funds, there is now a solution for them
East Windsor, NJ (Vocus) October 22, 2008
Claymore Securities, Inc. has selected leading private label retirement plan recordkeeper ExpertPlan to provide a private label 401(k) recordkeeping and administration solution.
The private label solution will include exchange-traded fund (ETF)-based target date funds that utilize the collective fund structure. These collective funds provide broad diversification across multiple asset classes with maturities ranging from retirement through 2050 and are available through this product as the qualified default investment alternative (QDIA). Because these collective funds are available on the same 401(k) platform as traditional mutual funds they are able to trade seamlessly through this recordkeeping and administration solution. Financial advisors will have access to a variety of tools, including online proposal generation and marketing support.
Claymore ETFs first entered into the 401(k) arena in November 2007, with the inclusion of Claymore ETFs as underlying investments within collective funds. In addition to the target date funds, there are eight single ETF collective funds. Each collective fund offers an institutional and an advisor share class.
“ETFs have definitely gained popularity over recent years, however the catch was to take a retail product and offer it inside of a qualified retirement plan. ExpertPlan is pleased to be selected by Claymore to introduce these ETF-based target date funds to our existing distribution network of partners,” said Ross Brown, Senior Vice President of Sales & Relationship Management.
“Many advisors have been looking for a solution which provides access to ETFs in retirement plans, and one that can also include mutual funds. With ExpertPlan’s open architecture and the collective funds, there is now a solution for them,” said Mark Tucker, Managing Director, Claymore Securities, Inc.
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. For more information about ExpertPlan, visit http://www.expertplan.com.
About Claymore Securities, Inc.
Claymore Securities, Inc. is a privately-held financial services company offering unique investment solutions for financial advisors and retail investors alike. Claymore is an innovator in exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds, often leading its peers as the first-to-market provider of creative investment vehicles. In total, Claymore entities have provided supervision, management, servicing or distribution for approximately $18.4 billion in assets as of June 30, 2008. Led by a seasoned and experienced management team, Claymore brings together what it believes to be best-in-class asset managers and index providers to create innovative investment solutions that are used to establish strategic partnerships with investment professionals.