The program provides custody, trustee, and trading support services with no direct custodial, trustee, or transaction processing fees to plan sponsors.
Plan sponsors that adopt the program can choose from more than 150 mutual funds in addition to First Trust?s proprietary First Peak Index Funds, managed by Barclays Global Investors.
Every fund in the program will accommodate late-day and same-day cross-fund family exchange capabilities. In April TRUSTlynx unveiled late-day trading and same-day cross-fund exchanges of mutual funds (see TRUSTlynx Extends Trading Options for TPAs, Plan Sponsors ).
The program also provides a pass-through of selected shareholder service fees collected from several fund families to third party administrators who want a slice of the growing small-business 401(k) market.
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