Strategic Advisor Acquires & Expands 401k Risk Management Platform
Technology Drives Relationship Tools for Institutions and Advisors, Adds Content Partner
EMERYVILLE, CA, October 14, 2003 -- The McHenry Group today announced that it had reacquired sole distribution rights to the PlanTools
TM Risk Management System, an automated suite of tools that empowers and equips service providers to help retirement plan sponsors to make better decisions about the investments they choose for their plans.
"For the last year, an affiliated firm has taken the lead in the offer of PlanToolsTM, but our management team has decided that it is time for the prodigal product to come home," stated McHenry Founder and Managing Director Ward Harris.
"PlanToolsTM will be offered by a new subsidiary of McHenry, which will integrate the offer of investment advisory support for plan sponsors delivered through partner institutions and professional intermediaries," Harris continued.
In related news, it was announced that it is adding fiduciary support capabilities for timely, Web-based information about qualified plan regulatory developments through a partnership with Plan Advisory Services. Led by Mike Barry and based in Chicago, the firm specializes in qualified plan regulation coverage and analysis for plan sponsors and the financial institutions and professionals that support retirement plans.
"Mike is an industry leader in helping financial institutions and large plan sponsors stay abreast of emerging legislative and regulatory trends," said Harris. "We are proud of this affiliation and look forward to helping our institutional and advisor clients to manage their plan client relationships more effectively."
Mr. Barry has 27 years ERISA regulatory experience, as an attorney and a consultant. Before founding Plan Advisory Services in 1998, Mr. Barry was a Managing Director at Bankers Trust, in BT's trust and recordkeeping business line. "I have known and respected Ward and McHenry for years. Our firms can now convert that relationship into a business affiliation that helps our mutual clients do more and better business," stated Barry.
The PlanToolsTM Web-based platform consists of three key elements:
- Investment Policy Module – Investment policy statement (IPS) tool that enables the efficient creation and maintenance of a plan IPS by the sponsor and its advisor. The IPS identifies plan mutual fund categories and selection criteria to be used in fund selection.
- Fund Screening/Scoring/Selection Tools – Interactive fund selection module that supports efficient analysis and selection of plan investment funds, as defined by the IPS and supported by the plan's advisor.
- Quarterly Compliance Report – Integrated quarterly ‘report card' which ties plan-specific investment fund performance to monitoring criteria identified in the plan's custom IPS.
All elements of the PlanToolsTM platform deliver fully integrated, plan-specific solutions that represent the best use of personalized, mass-customization tools and techniques.
About The McHenry Group
The McHenry Group is a diversified service firm, providing risk management and business development support to the investment based benefits marketplace. Clients include service providers, institutions, advisors and technology firms, as well as employers and employer groups. McHenry maintains offices in Emeryville, CA; Washington, NY and Irvington, NY and additional information may be found at www.mchenrygroup.com.
