First Union Announces Partnership with 401K Forum for Online Investment Advice.CHARLOTTE, N.C.--(BUSINESS WIRE)--June 17, 1999-- First Union National Bank has announced an alliance with 401k Forum, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the leading provider of investment advice over the Internet and a 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 , to provide in retirement plans serviced by First Union, an opportunity to obtain on-line financial advice for plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. . As part of First Union's relationship with 401k Forum, participants in plans that elect to participate will have access to 401k Forum's investment 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 including personalized, fund-specific investment allocation recommendations based on their financial objectives, 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. and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. , customized to each employer's retirement savings plan Noun 1. retirement savings plan - a plan for setting aside money to be spent after retirement pension account, pension plan, retirement account, retirement plan, retirement program, retirement savings account . The First Union/ 401k Forum alliance will enable electronic fund balance information and transfers among funds based upon the advice, creating a seamless experience for First Union plan participants. The service also offers a comprehensive online investment education program, with modules designed for novices to more experienced investors. "We are responding to direct feedback from our clients who have specifically asked for objective, convenient, and affordable participant investment advice," said Joe Ready, senior vice president of First Union's Benefits Services Group. "After an intensive and thorough review process and careful examination of all potential providers, we decided to partner with 401k Forum because of their expertise, methodology, and their unparalleled track record of successfully delivering personalized investment advice. Because of our marketing alliance with 401k Forum, employers will now be able to easily enter into agreements with 401k Forum and participants will be able to make more informed retirement savings decisions." "First Union's marketing alliance with 401k Forum reflects the building momentum in 401(k) advice," said Steve Deschenes, president of 401k Forum. "First Union's decision to select 401k Forum is another strong indicator of our role as the market leader in online investment advice. We are excited that a major industry 401(k) provider such as First Union has joined with us to help their plan participants reach the retirement of their dreams." Charlotte-based First Union Corporation (NYSE NYSE See: New York Stock Exchange :FTU FTU Foreign Trade University (Hanoi, Vietnam) FTU Federation of Trade Unions (Hong Kong, China) FTU Formal Training Unit FTU Florida Times-Union (newspaper) ) is a leading financial services company with assets of $233 billion at March 31, 1999. Ranked as the nation's sixth largest bank and ninth largest brokerage affiliation, it serves 16 million customers who can access account information and purchase financial products at 2,400 retail offices, 3,500 automated teller machines, through the Internet at www.firstunion.com, or by calling First Union Direct at 800/ASK-FUNB. 401k Forum, LLC (www.401kforum.com), 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. Its 401 Kafe (www.401kafe.com) is the first independent online community and content site dedicated exclusively to 401(k) participants nationwide. |
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