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iJoin Introduces Game-Changing Fee Management Functionality for 401(k) Managed Accounts

January 19, 2023

New fee billing features make it easy for recordkeepers to support one or multiple partners.  

iJoin, a leading innovator in retirement plan technologies, announced today new functionality to support periodic fee calculations associated with managed account programs (MAP’s). The new capabilities are available immediately and make it easy for plan recordkeepers to determine monthly or quarterly billings on behalf of plan advisors and MAP partners.

Fee calculations that often take hours or days to compile and produce manually or that require significant programming investment to support the fees of a single MAP partner can now be instantly produced for one or many partners in iJoin. Upon its first release, the functionality produces a report delineating any combination of flat fees or basis point fees due for the prior period, typically the prior month or quarter. Fee schedules may be comprised of fees due to the recordkeeper, advisor, MAP technology provider, investment manager, or other partner and may be assigned to a single plan or a group of plans. In a subsequent 2023 release, expanded functionality is planned to help automate recordkeeper fee transactions.

“Calculating and managing fees inside of managed account programs has long been a huge point of friction in the market” said Steve McCoy, CEO of iJoin. “It’s been either a costly technology build or a really undesirable manual process. Given the time, cost, and burden, it’s no wonder so many recordkeepers limited their offering to a single managed account program. With this functionality, recordkeepers can afford to be more flexible and offer a range of risk and investment methodologies that appeal to their advisor partners and the unique needs of their clients. We think it’s a game changer.”

iJoin’s Managed Account Program (MAP) Marketplace supports innovative technology and investment management providers whose investment risk and investment allocation methodologies leverage iJoin’s core goals-based, personalized user experience. MAP partners include LeafHouse Financial, Franklin Templeton, iGPS and more.