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White Papers

(March 2015)
Mid Cap: The Goldilocks Asset Class
Domestic mid cap stocks may be on their way to being dubbed "the Goldilocks asset class." Long-term risk and return analysis demonstrates that mid cap stocks historically fit into a "sweet spot" of higher return for lower risk.

In this paper, we'll look at why U.S. mid cap stocks hit this sweet spot, examining factors such as business cycle and earnings growth, and suggest how investors can take advantage of the opportunities mid cap has to offer.

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(September 2014)
Fee Equality: Leveling the Playing Field for Participants
For most plan sponsors, managing their plan with the participants' best interests in mind is not just a fiduciary duty; it is a driving principle. Sponsors know that recordkeeping and other costs associated with managing the plan can have a significant impact on retirement outcomes. Read more description

This is why we are encouraging plan sponsors to examine the idea of fee equalization. Employers don't usually intend to charge fees unfairly, but may be surprised to know that fees are often inadvertently structured inequitably. Fee equalization can eliminate fee imbalances across the participant base and help plan sponsors embed fundamental fairness into the plan.

In this paper, we'll examine the ways in which traditional fee structures create imbalances among participants and consider ways to equalize fees.

Download white paper (PDF file, 646KB)

(August 2014)
A Private Equity Primer: Why and How to Invest in PE
The return potential is the beacon that draws investors to private equity; the asset class has outperformed all other asset classes over long time periods. In addition to returns, there is a sense of fulfillment and satisfaction that some private equity investors experience, knowing that their investment dollars are contributing to economic development and growth. Read more description

The allure of being in the groundswell of new ideas can be a powerful attraction for the asset class. Before you invest in this asset class, it is important to understand how private equity works.

In this paper, we provide the basic information needed to make an educated decision on whether or not private equity is right for you.

Download white paper (PDF file, 187K)

(March 2014)
The Paternalization of Participant-Directed Plans
This paper is relevant to retirement plan sponsors. The retirement plan industry has been refining and improving the defined contribution system over the last few decades, and many workers now have access to a variety of high-quality investments and in-depth investment education to assist them in planning for retirement, thanks to their employer-sponsored retirement plans. Read more description

But even with these advantages, many participants are falling far short of their retirement goals. Studies of participant investment behavior indicate that poor investment choices may be a significant factor in chronic retirement savings shortfalls.

In this paper, we'll examine the research covering participant investment behavior and discuss why paternalistic investment solutions may help to improve participants' long-term outcomes.

Download white paper (PDF file, 138K)

(September 2013)
The I AM Learning Partnership: Building Business in Partnership with Community
A primary objective of Arnerich Massena's I AM Learning Partnership is to exemplify business in partnership with community. We feel that, as a model for other corporate citizenship programs, the I AM Learning Partnership offers a unique and remarkable strategy with far-reaching impacts. Read more description

As we move forward into the twenty-first century, it may be necessary for corporate America to step up and fill in the massive gaps caused by a lack of government funding. Education is one area in which corporate programs can provide the greatest support. In this paper, we provide a blueprint for businesses wishing to develop similar community programs.

Download white paper (PDF file, 1105K)

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(September 2013)
The Investment Policy of the Future
As we face accelerating changes in the world, affecting everything from technology to the environment, the need to evolve quickly and gracefully is heightened. To think that the world can change this fast but your investment strategy can stay the same is unrealistic. Read more description

Investing, by its nature, should be forward-looking rather than past-focused. As we look to the future, those who have the flexibility to shift and adjust will have a distinct advantage. In this paper, we'll share some ideas on how to build an investment policy that will embed into your strategy the flexibility and adaptability that are essential in today's environment.

Download white paper (PDF file, 490K)

(March 2013)
Roth Retirement Savings: More Accessible Than Ever
This paper is relevant to retirement plan sponsors. The 2012 fiscal cliff legislation brought us, among other things, a new regulation making in-plan conversions to a Roth option more easily accessible; Read more description

now, participants don't have to retire or separate from service to convert assets from a pre-tax account into a Roth. Employers are recognizing the significant benefits a Roth option offers to certain participants, and the new law provides an impetus for taking a deeper look at why you may want to consider adding a Roth option. In this paper, we discuss how a Roth option may be a valuable addition to a retirement plan, and considerations for plan sponsors when deciding whether or not to offer Roth contributions.

Download white paper (PDF file, 675K)