E401k, an online plan provider, which sells through third parties, announced it had organized its fund offerings into three groups called Gold, Platinum, and Diamond. According to a company announcement:
- The E401k Gold fund list is designed for small companies with fewer than 100 employees and offers “A” mutual fund shares without an upfront load to be sold through brokers.
- The E401k Platinum seeks to attract firms with 100 or more workers and/or at least $1 million in plan assets. The Platinum funds are also designed to be marketed through brokers.
- The E401k Diamond group of no-load funds is designed to be offered by registered investment advisors paid by fees.
E401k said the funds in the three groups are from fund families such as American Funds, American Century, Dodge & Cox, Dreyfus, Franklin Templeton, Goldman Sachs, INVESCO, Janus, JP Morgan, First Trust Portfolios, Oppenheimer, Putnam, T Rowe Price and The Vanguard Group.
The company said plan sponsors and their third-party advisors can make plan decisions including fund choices more quickly with the three groups because of the efficiency of its existing K plan platform.