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Products May 29, 2007
BenefitStreet Offers iShares ETFs Directly to Plan Sponsors
May 29, 2007 (PLANSPONSOR.com) - Recordkeeper
BenefitStreet Inc. has come out with a new system that
delivers exchange-traded funds (ETFs) from Barclays Global
Investors' iShares funds directly to investors.
Reported by Adrien Martin
According to a press release, the BenefitStreet ETF system distributes the funds directly to investors, circumventing the use of collective trusts and reducing commission costs.
“We developed this new platform in response to the regulatory changes taking place in the 401(k) industry calling for lower fees and more fee transparency in defined contribution plans,” said Ken Weida, Co-Founder and Senior Vice President of BenefitStreet, in the news release.
According to the BenefitStreet, offering iShares Funds allows advisers who are already offering the ETFs to their clients with taxable accounts to offer them to 401(k) accounts as well.
For more information about the program contactETF401k@benefitstreet.com .