You are able to leverage the following key strategies through one of our Custody service partners:
Open Fund Architecture – The custody platform has over 15,000 funds available crossing over hundreds of mutual fund families. This allows you to select a list of mutual funds that you feel best represent each investment category. You are not required to use one fund or fund family. This gives you the flexibility to customize your retirement product.
Ability to offer self directed brokerage accounts - This feature has become popular within some segments of the retirement plan environment. There is a full interface between our recordkeeping system and the SDBA where participants may transfer balances back and forth on an automated basis.
Ability to offer Same Day Exchange (SDE) for fund transfers – This allows both the sale and purchase related to a fund transfer to be completed in one process. Please note that to fully utilize SDE, all funds involved in the transfer would need to be SDE eligible. SDBA would not be considered SDE eligible. The normal two step trade process for a fund transfer occurs when the non-SDE fund(s) is involved.
Custodial Services through our partner – Our partners offer full custodial and asset safekeeping services from a name you can trust for your retirement plan.
Relief from the tax reporting tasks – The custodian will generate the necessary 1099r or related tax form for any distribution processed.
Ability to use Administrative Service Payments to help offset expenses – Through the custodian’s extensive relationships with various mutual fund companies, they are able to offer administrative service payment opportunities to help offset plan expenses. All service providers involved with your plan adhere to full fee disclosure to provide a true transparent fee analysis for your plan!
SERVICES INCLUDE:
- Access to mutual fund trading platform
- Mutual Fund Trading Link to the National Securities Clearing Corporation (NSCC) where mutual funds trade
- Settlement and clearing of fund trades
- Trust Statements
- Check production & tax reporting
- Custodial Services
