According to a news release, GIAC will offer advisory services by PMFM, Inc., the independent registered investment adviser for 401k Toolbox, under GIAC’s group variable annuity contract, The Guardian Advantage.
The news release said 401k Toolbox utilizes a tactical asset allocation strategy in Manage It For Me, a participant fee-based service. The five risk-based portfolios change with market conditions and are designed to help protect client assets. “401k Toolbox works to capture most of the good times while reducing market exposure during the bad times,” said Tim Chapman, President and co-founder of PMFM, Inc.
Participants are automatically moved to more conservative portfolios as their needs change with age, according to the announcement. However, unlike traditional target-date funds, participants can assess their own total retirement picture by including outside assets in their risk analysis and, if they choose to, they can turn off the glide path feature of their portfolio, giving them even more flexibility in their managed account, the news release said.
Said Tim McCabe, Senior Vice President for 401k Toolbox: “Manage It For Me answers one of the most difficult decisions participants have to make: ‘How do I invest my money?’ Now through the use of managed accounts, we can give them the advantage of independent professional investment management services that will put them in the proper asset allocation and help them get on track for a successful and secure retirement.”