WINTER PARK, Fla.--(BUSINESS WIRE)--Financial industry veterans Tom Ruggie, ChFC, CFP and Michael Case Smith announce they have partnered with Alta Trust to create the Edge Collective Fund Series, one of two cornerstones of an innovative retirement plan concept called Edge 401k Funds - which offers an array of financial wellness services to participants who choose to invest in these Funds.
“As more businesses recognize the importance of wellness initiatives as part of a healthy workforce and overall employee productivity, we believe our innovative approach will help solve concerns and reduce hard costs related to financial-related stress,” says Tom Ruggie, President of Edge 401k Funds, a dba of RWM Asset Management.
Participants allocating to the Funds inside their 401(k) will be proactively contacted by qualified customer relationship managers from Edge 401k Funds three times a year, who will then schedule time for those participants to speak with a financial coach regarding their overall financial wellness needs such as budgeting, debt management, funding education, and overall savings plans. Participants will also be encouraged to reach out to Edge 401k Fund’s financial coaches with questions.
The Funds have already been made available on more than 20 platforms including many large insurance companies, the Charles Schwab Trust, Fidelity Trust, and TD Ameritrade and Trust, and can be added to an existing plan or included as part of a new 401(k) plan. The related investment fee for the Funds is similar to certain target date funds and generally less than the typical actively-managed fund found in retirement plans. In addition to covering the cost of professional investment management, the related fees cover the cost of the financial wellness services delivered. In many cases overall fees can be actually lowered.
“While saving for retirement is often touted as the most important financial objective, it is far from the only financial concern many individuals struggle with,” says Michael Case Smith, Managing Director of Edge 401k Funds. “Individuals may not have the expertise or desire to choose investments on their own, but they are concerned with gaining stronger financial footing.”
“The benefit of financial wellness extends beyond the employee to the employer as well,” said Smith.
“The financial wellness component helps the employer prioritize retirement readiness. As the financial coaches work with participants on their short-range financial goals, it helps ease financial stress, which increases productivity, employee satisfaction, and decreases absenteeism and medical costs,” adds Ruggie.
About Edge 401k Funds
Founded in 2014, Edge 401k Funds is a dba of RWM Asset Management, an SEC registered investment advisor headed up by professionals who have worked with more than 700 retirement plans nationwide. The RWM Asset Management Collective Trust was created by Alta Trust and contains the Edge Conservative, Edge Moderate and Edge Growth Funds. A copy of the firm’s current disclosure statement is available upon request. For more information, please visit http://edge401kfunds.com.
About Alta Trust Company
Alta Trust Company is a South Dakota chartered trust company that partners with investment managers such as RWM to offer unique collective investment fund solutions to the retirement plan marketplace. Alta Trust is not associated with the additional wellness benefits offered through Edge 401k Funds.