401k Advice Professional Launches Investment Selection Review
ANNAPOLIS, MD, March 31, 2005 -- Leveraging its experience with 401k plan participants, The Scarborough Group Inc., a leading provider of 401k advice and management, has developed an investment selection service aimed at helping plan sponsors adhere to their fiduciary obligations.
"We've been helping participants manage their 401k accounts for 16 years," said Mike Scarborough, president and CEO of The Scarborough Group Inc. "Over that time, we've seen many 401k plans that didn't offer the investments participants need to construct a prudently diversified portfolio. That's dangerous, to the participant and to the plan sponsor."
With the increased scrutiny over investment options within 401k plans, and the heightened opportunity for litigation, Scarborough's Investment Selection Review service offers plan sponsors the independent review that can help protect them against fiduciary breaches.
"Ultimately, I want this service to help participants get access to the investment options that can help them construct suitable portfolios," continued Scarborough. "At the same time, it can help the plan sponsor meet their responsibilities."
Scarborough's service analyzes investment options within the platform of a plan sponsor's current plan provider. Record keepers who want to avoid potential conflicts of interest will find value in recommending the service to plan sponsors faced with selecting from an open platform of investment options.
More information on the Investment Selection Review service can be obtained by calling The Scarborough Group Inc. at (800) 835-401K, or visit www.401kadvice.com.
About the Scarborough Group
Founded in 1989, The Scarborough Group Inc. is a leading provider of 401k advice and management for individual plan participants. For 16 years, The Scarborough Group has been assisting 401k plan participants make prudent decisions regarding their company sponsored retirement plan. The Scarborough Group has also long been an advocate for 401k participant education and has provided educational programming for thousands of participants in hundreds of companies throughout the country.
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