ATLANTA, June 17, 2014 /PRNewswire/ -- Invesco US announced today that its DC Plan Analyzer app for iPad(®) has been updated with a new interactive tool that provides plan sponsors a detailed cost comparison analysis.
Driven by 401kSource.com's database of 182 product offerings from 64 providers, the cost comparison tool provides users the ability to see what other plan sponsors are paying for everything in their plan, from investments to recordkeeping to trustee services.
"We're pleased to offer the first industry app that provides plan design and cost comparison benchmarking data right at the financial advisors' fingertips," said Jeffery Hemker, National Sales Manager in Invesco's Retirement Division.
First, plan sponsors can select the average account value and the number of participants. The 401(k) cost comparison then displays average costs as well as breakdowns by quartile. Users can also look at the costs plan sponsors are paying for different types of investment options provided in the plan.
"Not only is this new tool intuitive and easy to use, it can revolutionize the way plan advisors provide service to their plan sponsor clients by allowing them to access industry benchmarking and cost comparison data on the go," Mr. Hemker said. "There's no longer the need to gather information from the client, return to their office to run a report and then schedule another meeting with the client to go over it. The app gives them the ability to do all of that in one meeting."
Other time-saving features of the app include:
-- Saving frequent searches to a "briefcase". -- Generating customized reports with the client's name and then emailing them directly to the client. -- Easily switch between Plan Benchmarking and Cost Comparison by touching the switch button at the top of the screen.
About Invesco Ltd.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd. It is a wholly owned, indirect subsidiary of Invesco Ltd.
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