DailyAccess offers a comprehensive suite of integrated and easy-to-use employee benefits plans supported by solutions-based technologies and personalized client service.
With an open architecture structure like (k)Star, the recordkeeper, investment manager, third party administrator, and custodian are all separate entities. Through this arrangement, fees for services are fully disclosed and there are no proprietary investment requirements – often, the recordkeeper has the ability to trade virtually any mutual fund or ETF.
An open architecture structure also allows advisors and plan sponsors to receive greater fiduciary support. Through (k)Star, CLS assumes fiduciary responsibility and provides all investment choices. This lessens the plan sponsor’s responsibility in choosing investment options for the plan, resulting in lower personal risk to the plan trustee and organization.