Hand Benefits & Trust Selected by ABG Consultants for CITs
HOUSTON, TX, November 12, 2018 -- Hand Benefits & Trust (HB&T), a BPAS company, announced today that it has been selected by ABG Consultants, LLC to establish a series of risk-based collective investment funds (CIFs) effective February 1, 2019. HB&T is a leading national provider of employee benefit trust services. The HB&T CIFs will provide ABG Consultants with a new alternative to handling risk-based models on a recordkeeping system.
"Creating ABG risk-based collective funds opens up a world of opportunity for ABG Consultants to support our clients and their employees," noted Larry Solomon, President of ABG Consultants. "We will use collectives to create a robust managed solution where we consider both age and risk tolerance," he added. "It will put employees on a customized glide path where they can be confident that their investments will change as they get older. This solution combines the best of risk-based models and target-date funds."
"As trustee, administrator, and transfer agent, we are looking forward to working with the ABG team," added Stephen Hand, HB&T President. "CIFs generally provide for lower expense ratios, flexibility with underlying securities, and simplified 404(a)(5) compliance, which will make it easier for ABG clients to achieve their retirement goals." BPAS and its trust subsidiaries hold $77 billion in trust assets and have been administering CIFs since 1964.
About ABG Consultants
ABG Consultants (ABGC) is a wholly owned subsidiary of Alliance Benefit Group Rocky Mountain (ABGRM) providing employee benefit recordkeeping, third party administration and investment advice to retirement plans, their participants and beneficiaries. In addition, we are leaders in providing financial planning, and wealth management to individuals, families and organizations of all sizes. ABGRM has been in business since 1980 and been a standing member of Alliance Benefit Group national since 1998. Visit www.consultabg.com or www.abgrm.com for more information.
About BPAS and HB&T
BPAS is a national provider of retirement plans, benefit plans, fund administration, and collective investment trusts. We support 3,800 retirement plans, $77 billion in trust assets, $1 trillion in fund administration, and more than 450,000 participants. With our breadth of services, depth of creative talent, and financial resources, we are well positioned to help our clients solve all their benefit plan challenges without the need to engage multiple providers. One company. One call. Visit www.bpas.com for more information.
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company mentioned or its representatives. Although 401khelpcenter.com may edit the release for editorial consistency, spelling, grammar, punctuation, or other editorial issues, it is not the author of the press release. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com.