Web Sites Seeking to Draw the 401(k) Broker
American Banker (10/13/00) Vol. 104, No. 41 p.10; Ackermann, Matt
Online intermediaries are becoming essential for
brokers trying to match their corporate clients with the right
401(k) plans, and competition among intermediaries is getting
strong. Spectrem Group notes that two-thirds of the 401(k) plans
purchased in 1997 were bought through intermediaries, and
Spectrem consultant Gerry O'Connor says that the good
intermediaries offer something different. 401Konnect.com has a
proprietary database of 89 providers, allowing brokers to input
data about the kind of plan they want; 401Kdudiligence.com
researches and analyzes plans and then issues reports; and
401Kexchance.com lets brokers enter data and get data and
analyses of plans that they can customize.