According to a BISYS news release, the offering is designed to help advisors meet current governance and disclosure mandates. The product is aimed at helping advisors provide to plan sponsor clients plans with added investment choices including complete disclosure of fees and flexibility of plan options, the announcement said.
“The program helps eliminate conflicts of interest and questions about why investments were selected because fees are fully disclosed,” said Christopher Guarino, president of BISYS Retirement Services, in the news release. “From the point of sale and throughout the life of the plan, the PrudentAdvisor suite of services gives advisors the means to respond to client demands.”
The BISYS news release said all administrative fees are collected by a third party and held in a special account for the plan allowing plan sponsors to dip into the account for plan expenses.
According to the company, the program includes:
- retirement plan design
- plan installation, maintenance and reporting
- plan administration and recordkeeping services
- investment selections from among thousands of mutual funds including asset allocation models and self-directed brokerage account options
- “affordable” plan fees
- participant communication, education and retirement planning tools.
Additional information about BISYS is at www.bisys.com .