ProManage, an investment firm that specializes in defined contribution plans, has developed an automated investment allocation product for plan sponsors, with whom ProManage will share the fiduciary responsibility for making the allocations.

ProManage will decide a participant's asset allocation when the account is opened and annually reallocate the participant's assets through a proprietary computer model. The model looks at three variables: the investor's age, salary and 401(k) balance.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.