P&A Retirement Plan Services breaks the ETF barrier that has long existed inside employer sponsored retirement plans by announcing a program that finally allows participants of defined contribution plans to buy and sell ETFs like mutual funds, without the performance drag associated with other ETF offerings. “For plan sponsors and advisors who have been searching for a clean, easy to use ETF solution, this is the perfect answer. We are extremely excited to roll this out at a time when there is so much attention being paid to reducing plan level fees and expenses,” said Sean Zent, Vice President of Retirement Plan Sales.
P&A Retirement Plan Services, part of the Buffalo, NY based P&A Group, is an open-architecture defined contribution recordkeeper and Third-Party Administrator, providing services to employer sponsored retirement plans.
ETFs have long been attractive to fee-based financial advisors due to their low costs, diverse selection and their ability to trade like stocks but until now, they have been administratively difficult to utilize in retirement plans. P&A401(k), P&A403(b) and P&A457, working with Mid Atlantic Trust Company’s ETFxChange platform, offer advisors the opportunity to access over 800 ETFs that trade just like mutual funds. In fact, advisors can now utilize any combination of ETFs and mutual funds seamlessly in the same plan, including the ability to create model portfolios.