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.


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