Two firms have teamed up to tackle the triple whammy ofconflicts of interest, defined contribution plan costs andparticipant services that will be highlighted when theDepartment of Labor’s fiduciary rulegoes into effect.

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Recordkeeper North American KTRADE Alliance and registeredinvestment advisor platform Folio Institutional have announced apartnership giving plan sponsors and their advisors newoptions.

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Through Folio Institutional, sponsors and advisors can bettercontrol plan costs by moving away from proprietary investmentproducts, mutual funds and ETFs. Instead, they can buildportfolios of individual securities, avoiding the embedded coststhat come along with packaged products. Folio Institutional alsooffers fractional share investing capabilities and modelportfolios.

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Through KTRADE, which provides open-architecture onlineretirement plan recordkeeping platform for 401(k), money purchase, 403(b), 457,defined benefit (including cash balance), MEP, nonqualified andother retirement plans, they will have access to a national networkof 22 third-party administrators.

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The partnership also provides sponsors and advisors with accessto fiduciary liability management services.

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“Today, advisors and plan sponsors are facing critical issuesthat will impact their ability to act on behalf of plan participants, manage costs andgrow their business,” Greg Vigrass, president of FolioInstitutional, said in a statement.

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Vigrass added, “Fiduciary duty, conflict management scrutiny andthe growing number of retirees are just some of the pressurescausing them to review their DC plan’s administrative costs andinvestment products. This partnership delivers timely solutionsthat ultimately benefit plan participants.”

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