BenefitStreet and Barclays Global Investors have partnered to create a 401(k) platform offering Barclays’ iShares exchange-traded funds.

The platform allows participants to invest directly in the ETFs, rather than through a collective trust, thereby minimizing commission costs and providing fee transparency.

“We developed this new platform in response to the regulatory changes taking place in the 401(k) industry calling for lower fees and more fee transparency in defined contribution plans,” said Ken Weida, co-founded and senior vice president of BenefitStreet.

“This is a breakthrough in the delivery of iShares funds to the sizable 401(k) U.S. market at a time when transparency and low total cost are critically important to plan sponsors and advisers,” said Michael Latham, managing director and head of iShares in North America.

At the outset, BenefitStreet is offering only iShares, but other ETFs will be included over time.

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