Smart's Robust Fiduciary Oversight Can Help Make Workplace Retirement Plans More Efficient and Attainable, Empowering More Employers to Offer Retirement Plans to Their Employees
NASHVILLE, TN / ACCESSWIRE / August 29, 2023 / Smart, a leading global retirement technology provider, is pleased to announce the wider availability of its Fiduciary Services to advisory firms, recordkeepers, and third-party administrators to provide Pooled Employer Plans ("PEPs") and single employer plans with ease and confidence. With a mission to bridge the retirement coverage gap, Smart's innovative technology-supported processes reduce employer fiduciary risks and complexity, paving the way for businesses to offer retirement savings plans to their employees.
Navigating the complexities of retirement plans, including regulatory and operational requirements, can be a daunting task for employers. Often, employers lack the understanding, time, and expertise needed to carry out their fiduciary duties effectively. The combined risks and costs associated with fiduciary responsibilities can deter businesses from offering retirement plans altogether.
However, Smart's Fiduciary Services address these challenges head-on, working with plan providers, recordkeepers, and third-party administrators in the industry to create comprehensive PEP and single employer plan solutions to help mitigate employer fiduciary risk and enable businesses to adopt a plan for their employees.
Why Choose Smart's Fiduciary Services?
- Independent: Smart is not affiliated with the service providers it oversees. This independence ensures the company avoids conflicts of interest to allow it to truly act in the best interests of plan participants and their beneficiaries.
- Mission-Driven: Smart is deeply committed to closing the retirement coverage gap by removing barriers that hinder businesses from sponsoring retirement plans for their employees.
- Versatile: Whether serving as your PEP's Pooled Plan Provider (PPP) or as a 402(a) Fiduciary for Multiple Employer Plans (MEPs) or single employer plans, Smart's Fiduciary Services adapt to meet your specific needs.
- Flexible: Smart can oversee all or some of the service providers to the plan, offering unparalleled flexibility that caters to the diverse requirements of different businesses.
- Meticulous: With extensive experience in fiduciary oversight of the professionals supporting retirement plans, Smart allows employers and their advisors to focus on their core competencies, confident in the knowledge that some of their most important fiduciary responsibilities are in capable hands.
- Tech-Focused: Embracing its role as a FinTech leader, Smart leverages technology and innovation to deliver efficient and streamlined fiduciary services. This approach ensures seamless plan administration and delivery, benefiting both employers and plan participants.
Jodan Ledford, the US CEO of Smart, said, "We believe in the power of collaboration and equipping our partners, such as recordkeepers, third-party administrators, and other plan providers, with the tools they need to manage efficient and scalable retirement plan solutions, including PEPs. Their important work ensures the realization of retirement dreams for countless individuals. At Smart, we are committed to continuous innovation on behalf of our industry, transforming possibilities into realities, and building a brighter, more secure future for all."
For more information on partnering with Smart, please visit: https://www.smartretire.com/fiduciary-services
About Smart
Smart is a global savings and investments technology provider. Its mission is to transform retirement, savings, and financial well-being, across all generations, around the world.
Smart partners with financial institutions (including broker-dealers, RIAs, retirement providers, insurers, asset managers, banks) and financial advisers to deliver retirement savings and income solutions that are digital, customized, and cost-efficient.
Smart, founded in the UK, operates in the USA, Europe, Australia, and the Middle East with over a million savers and over $5 billion in assets. Smart saw over 2,000% growth in assets on its platform since 2018.
Legal & General, J.P. Morgan, Fidelity International Strategic Ventures, Link Group, Barclays, Natixis Investment Managers, Chrysalis Investments, DWS Group, and Aquiline Capital Partners are all investors to date in Smart.
For more information, please visit www.smartretire.com.
Contact:
Heather Valle
Caliber Corporate Advisers
heather@calibercorporateadvisers.com
SOURCE: Smart
https://www.accesswire.com/778056/Plan-Providers-Can-Now-Include-Smarts-Fiduciary-Services-in-Pooled-Employer-Plans
