Last fall, I heard about BrightScope at Finovate. Today I got a press about their Personal 401k Fee Report. This is great so you can evaluate the fees related to management of your 401(k).
“BrightScope offers the Personal 401k Fee Report as the first and only way participants can easily determine what they are paying for maintenance in their plans,” said Mike Alfred, CEO and founder of BrightScope. “With a comprehensive database of more than 30,000 401k plans, we’re uniquely positioned to deliver a vital resource to millions of Americans unaware of how much of their retirement savings is going to fees each year. It’s one of the biggest, if not THE biggest issue in the industry, and a key area where BrightScope can provide unprecedented transparency.”