Dresher, Pennsylvania – May 7, 2009 – Ascensus, the nation’s largest independent recordkeeper and administrator for retirement plans in the micro- to large-market segments and a leading provider of regulatory expertise, plan document services and participant enrollment support, has enhanced its PrudentAdvisor™ and PrudentLink™ fee-based advisor retirement plan solutions with the addition of exchange traded funds (ETFs). Through this development, financial advisors and third party administrators have more investment options and increased flexibility to design a truly customized retirement program for their clients.
Unlike other defined contribution programs that offer ETFs, the Ascensus offering has several key distinctions. ETFs are available to plans of all sizes and can be offered in conjunction with a broad selection of mutual funds. In addition, ETFs are directly traded, allowing participants to own actual shares of the ETFs. Ascensus’ trade platform aggregates and nets trades before going to market, providing an innovative and cost-effective solution. Recognizing these advantages, iShares, a leading provider of ETFs, selected Ascensus as a Preferred Provider for advisors looking to use ETFs in 401(k) plans.
“We have been experiencing continued demand for and growth in our fee-based business, with sales in 2009 expected to more than double 2008 levels,” explained Mike Narkoff, Senior Vice President, Sales. “This investment in an ETF solution reinforces Ascensus’ commitment to meeting the unique needs of fee-based advisors and their plan sponsor clients who depend on their expertise. We are pleased that we are able to build relationships with firms like iShares that are committed to providing high quality products and services to financial advisors.”
PrudentAdvisor provides fee-based financial advisors with a bundled retirement plan solution that supports full fee disclosure and unbiased recommendations. A feature of PrudentAdvisor, PrudentLink makes it possible for financial advisors to combine their strengths with local TPA relationships.
About Ascensus
With more than 30 years of industry experience, Ascensus provides high-quality solutions for every segment of the retirement marketplace. As the nation's largest independent recordkeeper and administrator for retirement plans in the micro to large market segments and a leading provider of regulatory expertise, plan document services and participant enrollment support, Ascensus services over 26,000 defined contribution plans. The company's core capabilities encompass every component of a sophisticated retirement infrastructure, including administration, recordkeeping, ERISA consulting, compliance and sales support, trust and custody services, multilingual participant education programs, training and documentation. These solutions are offered with the open architecture investment capabilities that can be tailored to support the needs of institutional retirement plan providers, third party administrators, financial advisors and their clients. Ascensus is a division of Crump Group, Inc., the largest and most diversified wholesale insurance distributor in the United States. For more information, visit www.ascensus.com.
PrudentAdvisor and PrudentLink are not offered by BGI or its affiliates, nor is it offered by SEI or its affiliates. Since every client's circumstances and requirements are different, you should do your own due diligence and make your own assessment.
iShares is a registered mark of Barclays Global Investors, N.A. ("BGINA"). BGINA has licensed certain trademarks and trade names of BGI to Ascensus. The PrudentAdvisor and the PrudentLink are not sponsored, endorsed, sold, or promoted by BGINA or any of its affiliates (collectively "BGI"). BGI makes no representations or warranties to the owners of the PrudentAdvisor and the PrudentLink or any member of the public regarding the advisability of investing in the PrudentAdvisor and the PrudentLink. BGI has no obligation or liability in connection with the operation, marketing, trading or sale of the PrudentAdvisor and the PrudentLink.
CONTACT:
Mike Narkoff
Senior Vice President
Sales
Ascensus
Tel: 215-648-5165