401kdirect and EPIC Advisors Combine Marketing Strategies
CAMPBELL, CA, March 18, 2008 -- 401kDIRECT, founder of the CIF Marketplace, and EPIC Advisors, Inc., nationally renowned for its retirement plan support for regional banks, have introduced an expanded service offering combining back office administration with the ability to access multiple collective investment funds. This offering will help banks recapture retirement plan market share lost to large mutual fund companies and insurance firms.
According to Dave Wade, 401kDIRECT president, "Regional banks dominated the small to medium-sized plan market 15 years ago with bank regulated collective investment funds (CIFs). That changed with little regard to fees during the bull market. Now with government regulations looming and lower investment performance expectations, the tide is turning back to low net cost alternatives and full disclosure. We believe our clients can benefit by helping their respective plan sponsors meet both government regulations and enhance performance with CIFs once again."
Since CIFs are similar to mutual funds yet are transparent in pricing and have lower net costs, they provide plan sponsors an ideal solution to meeting PPA regulations. In addition, the funds are priced and traded in a daily environment and are not subject to many of the restrictions of mutual funds.
According to Lance Roberts, Senior Vice President of 401kDIRECT, "CIFs are a natural evolution of regional bank movement to open architecture in the retirement plan area. Many of the institutional managers that they are using with high net worth clients can now be accessed in their corporate client's 401ks."
The CIF Marketplace includes funds from major national trust companies and consulting firms, as well as under the radar sub-advisors with unique investment talents. Funds that are actively managed, that are directly invested in passive index strategies and that combine both strategies are represented.
For additional information on administration or for a list of CIFs available, please contact Lance M. Roberts directly at 740.927.3553, lroberts@401kDIRECT.com or George Curry with EPIC Advisors, Inc. at 402.614.4113, gcurry@epic1st.com.
About 401kDIRECT
401kDIRECT, formerly PENTEK Pension Services, is headquartered in Campbell California with offices in Chicago, IL and Columbus, OH. 401kDIRECT has specialized in the 401(k) arena since 1984.
About EPIC Advisors
EPIC Advisors, Inc., located in upstate New York, has gained national reputation as a leader in providing custom, full service 401(k) retirement plan programs. EPIC specializes in participant-directed plans and supports regional banks, trust companies, advisors and other financial services companies. EPIC currently serves clients in 29 states comprising over 810 retirement plans with $2.5 billion in assets.
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