Recordkeeper JULY Business Services (JULY), along with Expand Financial (EXPAND) and Investors Asset Management of Georgia, recently announced the launch of a collaborative pooled employer plan (PEP) solution named Launch401k.
According to the firm’s announcement, the effort aims to enhance retirement planning for traditional for-profit small businesses and extends its benefits to the education sector by serving charter schools and other 501(c)3 non-profit organizations.
EXPAND, which is an SEC Registered Investment Advisor that specializes in supporting advisors, broker dealers, recordkeepers, and other financial institutions, will serve as a 3(38) investment fiduciary, while RIA Investors Asset Management, which is a privately owned investment advisory firm serving retirement plans for corporations and non-profits, will provide investment expertise.
Key features of Launch401k include:
Cost efficiency: By consolidating resources, Launch401k PEP allows participating employers to benefit from reduced administrative costs and streamlined operations.
Investment expertise: Investors Asset Management of Georgia will bring its experience in investment management to ensure that the PEP offers a diverse and well-managed choice of low-cost index funds as well as their proprietary model portfolios.
Serving small businesses: The PEP is specifically designed to meet the needs of small businesses, providing them with a competitive retirement benefit that was once reserved for larger corporations.
Expansion into education sector: Recognizing the importance of retirement planning in the education sector, the PEP will extend its services to charter schools, allowing educators to access a robust retirement plan.
“We are excited to partner with Investors Asset Management of Georgia on this innovative PEP solution,” EXPAND CEO Greg Bakke said in a statement. “By combining our fiduciary investment oversight and JULY’s recordkeeping and administration strength with the investment management expertise of Investors Asset Management, we are confident in our collaboration to offer small businesses and charter schools a retirement solution that is both cost-effective and performance driven.”
“At Investors Asset Management of Georgia, we believe in providing tailored investment solutions to meet the unique needs of our clients,” added Timothy Rigby, President and Founder of Investors Asset Management. “Collaborating with JULY allows us to extend our commitment to excellence to a broader audience, making quality retirement planning accessible to small businesses and charter schools.”
