Folio Institutional, a division of FOLIOfn, has teamed up with Alliance Benefit Group Carolinas to offer a turn-key, web-based 401(k) platform that offers transparency, simplicity, low cost and is customizable. It includes custody, trading, recordkeeping and administration, and is available to advisers for just 95 basis points.
The investment choices on the platform include well-diversified target-date funds that offer investors a choice of varying risk, including conservative, moderate and aggressive, and pre-set portfolios of exchange-traded funds.
Advisers can opt to rebalance account holdings themselves or use the Folio(k) model portfolio data as a resource.
“Sponsors and participants are asking for more transparency, better diversification and lower costs across the board,” said Alan Smith, vice president of retirement services at Folio Institutional.