The new shares have a management fee of 0.35%, a competitive price.
The retirement advantage funds are for plan sponsors looking for the asset allocation glide path to mirror a retirement date.
Putnam’s Global Asset Allocation team will manage the Class X shares along with other funds in the retirement advantage funds suite.
Fpa And Sei Partner To Support Planners
The Financial Planning Association has partnered with the SEI Advisor Network to enhance its educational and technological services to financial planners.
The FPA’s newest strategic partner will help support over 23,000 FPA members with tools, resources and community support. The SEI network will provide experts at in-person conferences, through the FPA’s learning center and through online communities, said the FPA in its release.
The FPA and SEI hope to collaborate in other ways that will develop financial planners professionally.
“FPA’s partnership with SEI is paramount in bringing relevant and solution-based services to help financial planners get ahead in a rapidly changing environment,” said Frank Pare, president of the FPA.