Capital One has added Spark 401k, an all-exchange-traded fund 401(k) plan,to its products for businesses with fewer than 100 employees.
Spark 401k plans use model portfolios to simplify investmentselection; plan sponsors can receive assistance from customersuccess managers and customer care agents in choosing and managingretirement benefits. Spark 401k also offers online planmanagement.
A Capital One representative said that the company takes “adiverse approach to distribution, using many channels to driveawareness of the offering.” While Capital One sells throughadvisors and broker-dealers, its primary sales channel is direct tosmall businesses. Ascensus and PAI are the recordkeepers for Spark401k, and Capital One Advisors acts as the plans’ 3(38) fiduciaryand investment manager — thus relieving the plan sponsor offiduciary responsibility for investment decisions.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
