Press Release
401k Risk Management Platform Partners With Walker Macrae
Web-Based Services Provide On-Line Support to Manage Plan Sponsor and Advisor Risk Issues
EMERYVILLE, CA, September 10, 2003 –- Normandie Institutional Advisors today announced the expansion of its service partnership with Walker MacRae, Inc., for distribution of 401k risk management and advisory support services to and through third party retirement administrators (TPAs). The enhanced service makes available an Internet-based service center for use by TPAs on behalf of their plan clients.
The PlanTools™ Risk Management System is 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. "We are extremely proud to be a launch partner for this valuable service in the TPA channel," said Lance Roberts, Walker MacRae's Executive Vice President.
"Recent upgrades to the PlanTools™ system will be implemented first with Walker MacRae and we appreciate the opportunity to partner with them in the TPA marketplace," said Cindy Hargadon, Normandie's Chief Investment Officer. "We are doing some amazing things in the area of fund screening, scoring and selection of funds for fiduciary decisions. Walker MacRae and its TPA clients are valuable elements of that design and validation process," she continued.
The PlanTools™ 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. Objective and subjective oversight provide protective, not predictive support for plan sponsors.
- Quarterly Compliance Report – Integrated quarterly ‘report card' which ties plan-specific investment fund performance to monitoring criteria identified in the plan's custom IPS. Fiduciary monitoring of fund performance is fulfilled in an ethical, efficient and effective operating environment, supporting plan sponsors and the professional intermediaries (TPAs, advisors, brokers) that support them.
All elements of the PlanTools platform deliver fully integrated, plan-specific solutions that represent the best use of personalized, mass-customization tools and techniques.
PlanTools™ partners include banks, insurance companies, advisory firms, brokerage /consulting firms and recordkeeping platforms. PlanTools™ services come in a range of configurations, depending upon market segment and service channel. Pricing is variable based upon scope and scale of the service partner relationship.
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