East Hartford, CT-based 3D Asset Management, Inc., an investment management shop, has teamed up with East Winsor, NJ-based ExpertPlan, a private label retirement plan recordkeeper, to form a new product partnership.
The new product, ExpertAdvisorPlan, will allow plan sponsors to transfer fiduciary liability for overseeing plan investments by formally "delegating" responsibility in writing to 3D Asset Management as the ERISA section 3(38) investment manager. The service also discloses all plan expenses to help plan sponsors comply with the new Department of Labor fee disclosure requirements.
The product also offers 3D Global ETF Portfolios, which feature exchange-traded fund providers including iShares, WisdomTree, Charles Schwab, and Invesco Powershares, as investment options for sponsors who are seeking balanced asset-allocation models to add to their company retirement plans.
John O'Connor, founding principal of 3D Asset Management, told Money Management Executive, that his firm is looking forward to a “robust relationship” with ExpertPlan because of the recordkeeper’s access to micro and small retirement plans, which he defines as anything between a startup company to one with $3 million in retirement assets.
In other firm news, O’Connor said he is hoping to bring on board a new national sales manager within the next few weeks to help it expand its existing and new relationships recordkeepers such as ExpertPlan and Ascensus. The firm has already hired Lee Tenney, a former director at WisdomTree, who will be starting on Monday as a retirement plan specialist.
