RidgeWorth Launches New Fee Benchmarking Tool
ATLANTA, GA, May 25, 2010 -- RidgeWorth Investments announced today that it has launched a new interactive fee benchmarking tool on www.planadvisortools.com, its site geared towards advisors who work with retirement plan sponsors. The new tool joins RidgeWorth's well-received retirement plan benchmarking tool launched in February 2010 and will be another way for advisors to differentiate their services for retirement plan sponsor clients and prospects.
"Advisors to retirement plans want to make sure the retirement plans that plan sponsors provide for their employees are the best they can be," said Elizabeth Wilson, RidgeWorth's National Sales Manager, "Fee benchmarking can help make sure that plans are competitive on fees and give the plan sponsors the leverage they need to negotiate the best deals with their service providers."
Under the Employee Retirement Income Security Act (ERISA), sponsors are bound by a fiduciary obligation to ensure that the fees they pay service providers and asset managers are reasonable. "Part of assessing that reasonableness is understanding how the fees that a plan pays compare to plans of the same size and in the same industry," suggested Wilson.
The new tool, which utilizes proprietary data from Fiduciary Benchmarks, Inc., lets the advisor:
- Benchmark the clients' or prospects' total plan cost to the costs of other plans in their peer group.
- Compare various plan fees as well as participant success measures, so that fees are not measured in a vacuum without any context.
- Upload the advisor's own logo so that the advisor is seen as the expert.
Throughout 2010, RidgeWorth will be adding to its suite of materials and tools for retirement plan advisors. Advisors can visit www.planadvisortools.com for more retirement plan materials, such as: thought leadership, interactive tools and prospecting support.
About RidgeWorth Investments
RidgeWorth Investments serves as a holding company that owns interests in eight investment boutiques with approximately $65 billion of assets under management as of March 31, 2010. RidgeWorth's investment boutiques manage a wide variety of investment disciplines across the fixed income, equity, and liquidity management asset classes. Our boutiques provide investment management services to a growing client base that includes endowments, foundations, corporations, healthcare organizations, municipalities, public funds, associations, insurance companies, labor unions and high net worth individuals. In addition, RidgeWorth serves as the investment adviser to the RidgeWorth Funds mutual fund family. RidgeWorth Investments is a trade name for RidgeWorth Capital Management, Inc., an investment adviser registered with the SEC headquartered in Atlanta. For more information about RidgeWorth, visit www.ridgeworth.com.
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