Pershing LLC announced Tuesday it is rolling out its Retirement Plan Network, a new platform designed to help retirement advisors expand their business by connecting them to independent recordkeepers.
The network also will feature an array of investment products, retirement plan tools and practice management solutions.
Advisors who use the platform will be able to create proposals, view plan investments, conduct investment reviews, facilitate IRA rollovers, select recordkeepers and access plan sponsor and participant education materials.
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Pershing, already a major custodian in the IRA market, is expanding into the defined contribution space with the network as DC assets are expected to grow 5 to 6 percent per year through 2019.
The network is designed to help advisors address the needs of plan sponsors and individual investors on a single platform, while also providing greater transparency and oversight of their retirement business.
Among the independent recordkeepers already available to advisors through NetX360, Pershing's technology platform, are Allen, Gibbs & Houlik L.C.; Aspire Financial Service; Benefit Consultants Group; DailyAccess Corp.; July Business Services; and Sentinel Benefits & Financial Group. Additional regional and national recordkeepers will be available in the future.
Rollout of the new network will take place throughout the first quarter of the year.
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