Ancora Advisors Introduces Open Architecture 401k Product
CLEVELAND, OH, September 1, 2010 -- With so much confusion regarding choosing a retirement plan, investing for the future, selecting a financial advisor, and retiring on time, Ancora Advisors is proud to introduce a low cost solution: Open Architecture 401k products offered through Source Companies.
Source is an independent fee only investment advisor and provides an open architecture platform for sponsors and their plan participants. The primary benefits of the open architecture are the huge array of investment choices, transparent fee structure, active management, and low expenses. In addition, many 401k investors who are concerned that their retirement investments correlate too closely to the overall stock market, can now invest in alternatives, including sectors funds and ETFs.
Peter Mooney, President of Source Companies points out, "What many 401k plan sponsors and participants fail to realize is the wide variety of open architecture plans allow the sponsor to choose from a huge universe of investment options. We customized 401k plans whereby participants can create a portfolio outside of the S&P 500 or Dow if they wish." Since Source receives no compensation other than the management fee, it is in their best interest to help the plan sponsors select the investments with the lowest fees.
As a SEC Registered Investment Advisor, Source Companies has a fiduciary relationship with its clients, and an ethical responsibility to act in their favor, which many 401k providers simply do not have. The open architecture platform allows plan providers to act solely for the benefit of the clients by providing the most suitable product for the client at the lowest overall price. Most fiduciaries of 401k plans lack the expertise that Source has in the 401k market.
For more information on Source Companies, please visit www.sourcecompanies.ws. For information on Ancora Advisors, please visit www.ancora.ws.
###
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company or its representatives. 401khelpcenter.com, LLC is not the author of this release and is not associated or affiliated with any firm or organization mentioned unless otherwise noted. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com, LLC.
