Mapstone Group Adds 401k Fiduciary Solutions
EMERYVILLE, CA, November 3, 2004 – PlanTools, LLC today announced an agreement with Mapstone Group, LLC, of Rochester, NY, to provide an investment support service to its corporate retirement plan clients. The PlanTools™ Risk Management System will be made available to selected Mapstone clients throughout northern New York state.
Mapstone has been serving the needs of small and mid-sized business since 1970, assisting with business risk management, continuation planning and executive compensation issues.
"Now more than ever there is a tremendous need for an independent and objective process to validate the investment decisions that Pension Plan Trustees are making on behalf of their employees," said Jeffrey C. Mapstone, Managing Director. The firm has tested the service extensively with that firm's client base. "The response from our clients has been overwhelmingly positive. This partnership with PlanTools is exactly what is required to give plan trustees and our firm necessary support and guidance to make informed decisions."
"We have been working with Mapstone for the last six months to enhance the PlanTools platform to meet their needs. We are very happy to be working with Jeff and his team and their corporate clients," said Bill Fleig, PlanTools' General Manager.
The web-based PlanTools™ platform helps sponsors of retirement plans that provide for employee direction of the investments. The program provides an investment policy statement and ongoing monitoring of funds for performance and notable management issues. Quarterly reporting of objective and subjective performance is provided in electronic form and includes recommendations for remedial action for consideration by the plan sponsor or retirement committee. Fund selection assistance is also provided. Fees will be established by the cooperating professional firm, based upon their service offering.
The PlanTools™ Risk Management System consists of three core elements:
- Investment Policy Statement (IPS) – Written operating document detailing plan investment operations, customized for each plan and its unique situation. This tool details the standards and criteria to be used in monitoring the client plan's investment selections.
- Fund Focus List – A list of funds available to the plan for consideration and use, analyzed and ranked based upon objective and subjective criteria, including issues related to corporate governance and management.
- Integrated Quarterly Monitor Report (QMR) – System-generated report delivered quarterly, integrating the standards and criteria of the plan with the quarterly performance of the funds used by the plan.
This combined solution helps answer some key questions plan sponsors should ask and answer on a regular basis:
- "What do we know?" – What have our funds done this quarter and over time?
- "How are we doing?" – Did they meet or exceed our minimum requirements?
- "What should we do?" – Should we replace a fund that has not performed over time?
- "When should we take that action?" – How much time do we give the manager before action?
About PlanTools, LLC
PlanTools, LLC is an SEC registered investment advisor and service organization that provides technology-based out sourced retirement plan risk management services, including co-fiduciary advisory support. Clients include financial institutions (banks, insurance companies, asset managers and securities brokers), their retirement plan clients and the professionals that serve them.
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