Newkirk and NewRiver Announce Joint Marketing Agreement
ANDOVER, MA and ALBANY, NY, August 3, 2010 -- NewRiver, Inc. and Newkirk Products, Inc. have entered into an agreement for Newkirk to distribute NewRiver's Prospectus Express(SM) product in the 401k and 403(b) markets via Newkirk's Fund Central platform. Prospectus Express is the industry standard for electronic delivery of compliance grade prospectuses and other disclosure documents for mutual funds, ETFs, UITs and other prospectus-delivered securities. Fund Central is the gateway to providing online performance and investment information to retirement plan participants. Implementation is expected to be completed in early September.
"Electronic delivery is now a critical element in participant delivery and many of our recordkeepers are looking to reduce their paper compliance costs by substituting electronic delivery," stated Ray Newkirk, CEO of Newkirk.
As part of this agreement Newkirk will use NewRiver's Virtual Document Warehouse(SM) (VDW) as it shifts from pick and pack delivery of paper compliance documents to print on demand (POD) for first-dollar-in and fund-change-notice applications. Newkirk customers will be notified about this service's availability at a future date.
According to Russell Planitzer, Chairman and CEO of NewRiver, "From a compliance and cost point of view, printing six page Summary Prospectuses digitally, when required, is superior to the legacy method of printing to stock, transporting, then assembling compliance packages at a distribution site. We are pleased to be working with Newkirk to implement this streamlined document delivery system for the retirement market."
More information about Prospectus Express and Virtual Document Warehouse can be obtained at www.newriver.com. More information about Fund Central can be obtained at: http://www.newkirk.com/nfc.cfm
About NewRiver
NewRiver develops innovative technology solutions that help financial leaders simplify investor disclosure - providing transparency and cost savings to the delivery of fund data and investor communications. Since 1995, the company has helped some of the world's leading financial organizations move from paper to electronic disclosure via an easy to use, cost-effective, managed service offering. NewRiver pioneered the first electronic prospectus, and is the only company to guarantee its data to be "compliance grade" which allows customers to reduce risk, lower compliance costs and increase revenues. Through a patent-pending, automated process NewRiver efficiently monitors millions of data points from over 25,000 fund CUSIPs. Further, the company's unique "paperless" approach improves the investor experience while offering a real alternative to the environmental impact of paper-only delivery. Relied on daily by over 100 leading financial services firms, and millions of investors, NewRiver is a trusted and growing solution provider facilitating the transition from paper-based mutual fund information, to electronic. To learn more, please visit our website www.newriver.com or call 978.247.7200.
About Newkirk Products
Newkirk and its subsidiary companies are leading-edge defined-contribution plan communication providers. For over 30 years, Newkirk has developed creative solutions to communications issues faced by financial institutions and professional firms focusing on 401k, 457, 403(b), money purchase, and profit sharing plans. For more information, visit www.newkirk.com or call 800.525.4237.
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