Under the ManagedPlan Program, a plan sponsor’s fiduciary duty is not to invest or manage assets of the plan itself but to monitor the selected investment manager’s performance, the announcement said. Plan sponsors can choose a fully bundled solution, or can use the ManagedPlan Program in coordination with a third-party administrator.
In addition to its platform of independent investment managers, according to the announcement, the new program features:
- An investment platform with no proprietary funds, no sub-advised funds and no revenue sharing requirements for fund inclusion;
- A pricing model that offers advisers the ability to set and adjust their compensation based on the size of the plan and the services provided;
- Full disclosure and offset of mutual fund revenue to reduce plan and participant expenses; and
- All aspects of plan administration and recordkeeping.
Additionally, Professional Capital Services will provide advisers and their clients with participant education tools, including an online risk tolerance questionnaire that helps determine the appropriate managed account choice for each participant. Support services also include 24/7 access to account information via telephone and the Internet.
To learn more contact Jim Marx, Director, National Sales at Professional Capital Services, LLC at 866-486-1202, or MarxJ@PCScapital.com .