Credit Suisse Asset Management Joins with 401K Forum to Offer Plan Sponsors Unique Interactive Internet-based Service for Retirement Planning Guidance.NEW YORK--(BUSINESS WIRE)--May 10, 1999-- Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Asset Management, one of the world's leading global asset managers, and 401k Forum, the nation's first Web-based 401(k) registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in , have combined their best thinking in investment management and online services to provide access to the next level of interactive retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. guidance over the Internet for the employees of Fortune 500 firms. Officials of both companies said the new service, 401k Guidance Online, is designed to help individual participants make the best use of their 401(k) plans by providing an objective, interactive and understandable solution customized to each employer and personalized for each employee. Under the terms of the strategic alliance, which is a key element of Credit Suisse Asset Management's defined contribution market initiative, 401k Forum, will provide independent analysis of plan investment options. If plan sponsors hire CSAM CSAM Credit Suisse Asset Management CSAM College of Science and Mathematics CSAM California Society of Addiction Medicine (San Francisco, California) CSAM Certified Senior Account Manager or Warburg Pincus Warburg Pincus is a private equity firm with offices in the United States, Europe and Asia. It has been a leading private equity investor since 1971. The firm currently has approximately $14 billion under management, and invests in a range of industries including information and to manage a portion of their DC plan, they will receive 401k Guidance Online at no cost to the plan or to its participants. "401k Forum is the industry leader in creating independent, objective Internet solutions for 401(k) participants and has a proven track record of successful implementation and results," said Robert Birnbaum, Managing Director, defined contribution plan Defined contribution plan A pension plan whose sponsor is responsible only for making specified contributions into the plan on behalf of qualifying participants. Related: Defined benefit plan business for Credit Suisse Asset Management. Birnbaum also said that 401k Guidance Online is not only the first bundled product of Internet-based participant guidance and investment management from an investment-only provider, it is also easily implemented by plan sponsors at low cost. As a result, said Birnbaum, "401k Guidance Online is well-positioned to respond to the three dominant trends facing benefit plans -- the shift toward institutional style asset management, personalized guidance for each employee, and the use of the Internet." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. David Peckman, vice president of marketing for 401k Forum, "401k Guidance Online also enables participants to invest more confidently by bringing to the Web a program that allows them to take advantage of the best, institutional quality thinking applied to their own particular circumstances -- all at their convenience. This will encourage their participation, and improve their 401(k) investment decision making, helping to ensure more appropriate individual asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. ." Credit Suisse Asset Management and 401k Forum will work closely with plan sponsors who adopt 401k Guidance Online to design a customized Web site for their employees that will incorporate the specific options offered by their plan. Because security will be an important consideration to keep personal information confidential, every 401k Guidance Online site will be encrypted and password protected. To use 401k Guidance Online, employees log on to their plan's customized Web site either at home or at the office. They then go through a brief online interview to determine their financial situation, age, risk tolerance Risk Tolerance The degree of uncertainty that an investor can handle in regards to a negative change in the value of their portfolio. Notes: An investor's risk tolerance varies according to age, income requirements, financial goals, etc. , expected retirement date and retirement income needs. The program will then identify model portfolios and customized asset allocation models that can help achieve the individual's desired retirement goals. Participants without access to a computer will be able to get similar personalized information by phone and on paper. Specific fund recommendations will not be given, but a selection of appropriate funds from those available in the plan will be offered. Plan sponsors are not limited to Credit Suisse Asset Management or Warburg Pincus funds, some of which are advised by Credit Suisse, or to any particular recordkeeper. For more sophisticated and experienced 401(k) participants, selected investment strategy commentaries from Credit Suisse will be available on this site. The alliance represents a long-term commitment to provide DC plans to Fortune 500 companies with which Credit Suisse Asset Management already has significant relationships. "We've targeted Fortune 500 companies because it's clear many large companies would like to improve the quality of 401(k) guidance given to plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. ," Birnbaum said. "For plans which include CSAM or Warburg Pincus in their line-up, 401k Guidance Online delivers a single package to plan sponsors that combines the two highest-valued elements of plan design -- objective participant guidance and experienced investment management." "Seventy percent of households have no access, face to face, to investment guidance from traditional sources," said Peckman. "Retirement planning information online for employees is a natural evolution." Credit Suisse Asset Management is the investment management division of Credit Suisse Group, one of the world's largest financial organizations with over $600 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Credit Suisse Asset Management, with 18 offices worldwide, has investment capabilities in many asset classes, including equities, fixed-income, derivatives and commodities. It manages over $150 billion in discretionary assets, including retail mutual funds marketed through a strategic alliance with Warburg Pincus Asset Management.(a) 401k Forum, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a registered investment advisor located in San Francisco, is a subsidiary of Emergent Advisors, a holding company dedicated to delivering independent and objective online investment advice to investors through 401(k), 403(b) and 457 plans, Individual Retirement Accounts and to retail consumers. 401k Forum clients offering online investment advice include Fujitsu America, Inc., Blue Shield of California Blue Shield of California is a not-for-profit health insurance provider headquartered in San Francisco, California. An independent licensee of the Blue Cross and Blue Shield Association, Blue Shield of California is an incorporated, wholly owned subsidiary of California Physicians' and Southwest Airlines Pilots Association. (a) Assets under management include SEC and non SEC registered affiliates. Advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal of non SEC affiliates are not offered hereby. |
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