Citing an increasing need for retirement plan investors to understand the holdings in their portfolios, investor education company FinMason has launched The Finspector, a free online tool to help retirement plan participants better understand their investments. The tool analyzes more than 6 million investments globally, including 24,000 mutual funds and exchange-traded funds.
The Finspector points out potential strengths and weaknesses in investors’ portfolios, how their investments could perform in the future under different market scenarios, how the portfolios’ yields could improve when various holdings are changed, and how their holdings benchmark against similar funds. Based on participants’ savings rates and projected performance, the tool also shows participants how much they can expect to have saved by retirement age.
“Millions of Americans are basically ignoring their 401(k) plans,” says Kendrick Wakeman, founder of FinMason. “What investors really need is an independent, unbiased tool that helps them see which advice is right for them and which advice is not, so they can move forward with confidence.”
More information about the tool is available here.
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