Invesmart Unveils New Service for Advisors
Independent Advice and Institutional-Quality Research for Advisors Serving the Retirement Plan Market
PITTSBURGH, PA, October 23, 2003 -- Invesmart, Inc., a national retirement and financial services firm, has introduced a new service for investment advisors serving the retirement plan market. Through its wholly owned subsidiary, Invesmart Advisors, Inc., Invesmart will provide independent advice and research for the selection and monitoring of mutual funds, enabling third-party advisors to provide their clients with an institutional-quality service.
Invesmart has designed the service so that advisors can deliver a fully integrated investment service, customized for each defined contribution client. "It takes substantial resources to conduct the kind of thorough research and due-diligence that plan sponsors increasingly demand," said Kent Baur, CEO of Invesmart Advisors. "The quality of our investment process and depth of our team creates an opportunity to partner with advisors who want to deliver a fiduciary quality investment process, further strengthening their client relationships."
Invesmart Advisors employs a strict selection process that includes both quantitative and qualitative analysis of funds under consideration. Quantitative elements are designed to provide an understanding of the portfolio characteristics and risks that led to previous performance. Qualitative elements are designed to evaluate the ability of the portfolio team to provide continued and consistent performance, including an assessment of the quality and stability of the firm, the investment vehicle and the investment team.
"Our objective is to identify funds that can provide consistent long-term performance within a specific investment style or mandate," said Rob Rossi, Director of Research for Invesmart Advisors. According to Rossi, chasing the latest hot fund is one of the most common and costly mistakes made by plan participants. "We want our funds to enhance the asset allocation decision made by participants, not overwhelm it."
Advisors will have access to the same resources utilized by Invesmart's advisory staff. The service includes marketing materials that describe the fund selection process, access to research tools used in the decision-making process and a monitoring report customized for each retirement plan. The monitoring report is in "deliverable" form, but can also be modified by the advisor before sending it to their client. The Invesmart Advisors' Investment Committee formally reviews funds that under-perform and the external advisor is provided a recommendation as to whether the fund should be replaced.
Invesmart Advisors is not affiliated with any mutual fund companies, and does not retain any revenue from distribution agreements with funds. "We think our unique combination of objectivity and expertise provides advisors and their clients with a solution that can't be matched in the industry," said Baur.
About Invesmart
Invesmart, Inc. is a leading, full-service retirement and financial services firm. Invesmart combines one-on-one, personalized service and technology to assist companies of all sizes in establishing and administering retirement plans. Invesmart provides investment advisory services through Invesmart Advisors, Inc. and brokerage services through Invesmart Securities, LLC, member NASD; both are wholly owned subsidiaries of Invesmart, Inc. and its nationwide network of affiliates. Headquartered in Pittsburgh, Pennsylvania, the firm has 16 offices nationwide.
###
401khelpcenter.com, LLC is not the author of this press release and is not associated or affiliated with any firm or organization mentioned unless otherwise noted. Use of any information obtained from this press 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, LLC.
