Press Release

FiduciaryxChange Helps Drive Pooled Employer Plan (PEP) Popularity

Issued by FiduciaryxChange

Mar. 26, 2024

Firm’s Solutions Propel Rapid Growth, Registers More Than 50 PEPs Since 2023

PITTSBURGH -- FiduciaryxChange, an AmericanTCS solution that provides comprehensive fiduciary services to help 401(k) plan sponsors, advisors and administrators effectively meet their obligations, announced it registered its 54th Pooled Employer Plan (PEP) as a growing number of employers continue to utilize the firm as an outsourced manager of retirement plans.

FiduciaryxChange launched with three PEPs — 401(k) retirement plans allowing unrelated businesses to participate in one defined contribution plan — and 36 fiduciary clients. Today, the firm works with more than 50 PEPs and 450 fiduciary clients. It has grown its assets from $200 million to more than $1 billion in the same period.

The firm’s success is a factor of the efficiencies it provides to employers and financial advisors along with the passage of the 2019 SECURE Act, which improved access to retirement plans as an employee benefit.

“Financial advisors who work with employer-sponsored retirement plans can hit a critical mass where they are unable to service a high volume of clients,” said Jeff Atwell, Senior Vice President, Fiduciary Services at AmericanTCS Fiduciary Services. “At the same time, plan sponsors don’t have the expertise or time to manage a retirement plan. FiduciaryxChange offers the ability and flexibility to help advisors and plan sponsors efficiently manage their needs while also taking on the regulatory and auditing responsibilities.”

He estimates FiduciaryxChange has added 15 to 25 clients every month as PEPs continue to rise in popularity.

“Entrepreneurs are experienced in running businesses, not retirement plans, but many employers know they have to offer benefits like defined contribution plans to compete in a tight labor market,” Atwell said. “FiduciaryxChange allows them to be competitive in the marketplace while they offload the audit, fiduciary and management responsibilities to us.”

About FiduciaryxChange^®

FiduciaryxChange is a set of services offered by AmericanTCS Fiduciary Services, LLC. FiduciaryxChange is a product name used by AmericanTCS Fiduciary Services in marketing services to the retirement plan industry. FiduciaryxChange is dedicated to reducing the administrative burden of adhering to regulatory guidelines. Our suite of flexible and comprehensive fiduciary services helps 401(k) plan sponsors, advisors, and administrators effectively meet their obligations. Led by experienced professionals, we uphold a Prudent Expert Standard of Care and offer specialized services such as Pooled Employer Plans, 402(a) Named Plan Fiduciary Services, and 3(16) Plan Administrator support. Trust FiduciaryxChange to streamline your fiduciary responsibilities and minimize risk, empowering you to prioritize your plan participants’ financial well-being.

About AmericanTCS℠

AmericanTCS and its businesses collectively date back almost 50 years and provide industry-leading financial services to the American workforce. AmericanTCS delivers a wide array of custody and trust, retirement services, wealth management, and technology software automation to a diverse national client base through its businesses. With over $500 billion in assets supported through trading, custody and technology, and 425,000 retirement plans and 6 million plan participants supported, all the operations that comprise AmericanTCS share a common mission: to create financial security for all Americans. To learn more, visit www.americantcs.com.

Contacts

Brandon Blackwell Haven Tower Group Bblackwell@haventower.com 424.317.4868

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