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Portfolio > Investment VIPs

Hewitt, Russell Combine To Launch Fully Bundled 401(k) Service

By Staff Writer

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NU Online News Service, Oct. 16, 8:40 a.m. – Hewitt Associates, Lincolnshire, Ill., a management consulting and outsourcing firm, and Frank Russell Company, Tacoma, Wash., a multi-manager investment services firm, announced they are joining forces to create a defined contribution program aimed at providing increased investment discipline and comprehensive outsourcing services.

The two firms will offer SmartDC as a “manager-of-managers” investment program with a level of investment oversight similar to that associated with traditional defined benefit plans, the companies say.

The program will be offered as a solution for plans that are interested in outsourcing in order to obtain professional, multi-manager investment help and administrative and communications services, the companies say.

Hewitt and Russell will start by marketing the service to large and mid-size U.S. defined contribution plans.

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