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March 18, 2008 at 01:25 PM
EPIC Advisors Inc. will be working with 401kDirect Inc. to offer small and midsize banks more collective investment fund investment services and support services.
EPIC, Rochester, N.Y., and 401kDirect, Campbell, Calif., say the new service will help regional banks compete harder against insurers and other companies for retirement plan business, by helping them take advantage of new federal cost disclosure rules.
Because the administrative costs associated with collective investment funds tend to be low, banks that use the funds may be able to compete more effectively in an environment in which all players must disclose their fees, the companies say.
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