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View More Press Releases by ExpertPlan

Press release:

Broker-supported, Web-based 401(k) Administration Growing in Popularity

Issued by: ExpertPlan

Date: Oct. 13, 2000

TRENTON, N.J., September 27, 2000 -- From New York to San Francisco, financial services brokers are utilizing ExpertPlan, the first Internet-based provider of retirement plan administration, to enable them to offer small and mid-size employers retirement plans that are comparable to those historically available only to large corporations. In recently signed agreements, PaineWebber and Linsco/Private Ledger (LPL) brokers selected ExpertPlan for its ability to deliver a wide selection of funds with the versatility and expediency of online participation, all at a competitive cost.

ExpertPlan is a best-of-breed online retirement solution, offering brokers a way to cost-effectively sell big time, competitive retirement plans to small and emerging companies. It gives the broker a whole new marketing tool, said Nathaniel Prentice, CFA, PaineWebber, Fishkill, NY. Prentice, who selected ExpertPlan for a Silicon Alley e-learning client, chose 14 different funds from a range of mutual fund families, allowing customization of plan participants' portfolios.

Byron Hancock, CFP, a Registered Principal with Linsco/Private Ledger in San Francisco servicing an e-commerce client, said ExpertPlan represents the Internet wave of the future for paperless 401K plans. It reduces the paper-work for the broker, the employer and the employee in an otherwise paperwork laden business in this tech savvy world.

As compared to do-it-yourself online 401k plans, ExpertPlan's model relies on the broker to bring the added value of financial advice and education to the plan sponsor and participant. ExpertPlan recognizes the importance of providing online retirement plan products which allow an employer to work with a broker for financial advice, said PaineWebber's Prentice.

ExpertPlan's 401(k) plans support brokers with full-service, online set-up, record keeping and transaction management services, as well as online access to marketing materials and proposal requests. Geared toward fast-growing companies that are typically Internet-savvy and aware of investment options, ExpertPlan's retirement plan products enable financial professionals to offer their clients a high-quality, multi-fund family retirement plan for less than the cost of a typical single-fund family plan, said David Pinsen, Director of Business Development, ExpertPlan.

The web-based "self service" model empowers plan participants to manage their own accounts, which eliminates third-party errors, and reduces costs and the administrative burdens on the financial professional and the plan sponsor. Broker/dealers may private label the ExpertPlan product, seamlessly integrating it into their branded services.

About ExpertPlan.com:

ExpertPlan (www.expertplan.com) is a provider of online retirement plan solutions which enable financial advisors to offer high-quality, low-cost retirement plans to meet the needs of their clients. The company was founded in 1999 by core members of the information systems management team from one of the world's largest financial services corporations, and is headquartered in Trenton, NJ.

CONTACT: Lisa Rhodes, PR Director of the Atlantic Group, 203-840-4984, fax 203-840-4985, e-mail, rhodes@atlanticgroup.com, for ExpertPlan.

For more information: http://www.expertplan.com

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