3D Asset Management has partnered with Newfound Research to offer the 3D/Newfound PrudentPath Target Date Portfolio Series, a suite of target-date portfolios utilizing Exchange Traded Funds for defined contribution plan sponsors that combine 3D’s strategic approach to target date investing with Newfound’s rules-based tactical approach.
3D will advise the Target Date Portfolio Series and Newfound will sub-advise, while providing the tactical integration to 3D’s aggressive target date series. Collective Investment Funds will be used to offer portfolio options targeting seven retirement dates ranging from 2015 to 2055. 3D also announced that Stamford, CT-based Advantage Benefits Consulting Inc. will be the first client to use the CIFs as the qualified default investment alternative for multiple DC plans.
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3D has leveraged its prior experience in pioneering first-to-market target-date portfolio solutions that offer distinct advantages to financial advisors and plan sponsors while also recognizing plan participant needs. The 3D/Newfound PrudentPath series delivers the next evolution, having investment managers specializing in their respective strategic and tactical disciplines collaborate to deliver the best of both management styles to plan sponsors and participants.
Each target-date portfolio provides a unique QDIA for plan sponsors and will provide plan participants with an investment designed to optimize or reduce exposure to equity markets in accordance with current market cycles and their individual retirement time horizon.
As with other 3D products, the 3D/Newfound PrudentPath series will be distributed exclusively through financial advisors, and will be available in three share classes of CIFs as well as through unitized portfolios on Mid Atlantic Trust Company’s ModelxChange platform.
Lee Tenney, VP of Retirement Plan Services at 3D, said: "Through our partnership with Newfound, we are excited to continue to provide financial advisors and their clients with differentiated products and solutions in the retirement plan market. Investors in qualified plans now have a suite of investment vehicles designed specifically for them."
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By GlobalDataKevin Weiner, principal at Advantage Benefits, said: "As a TPA working within the advisor community, it is critical that I maintain a keen awareness of the investment marketplace. PrudentPath is a welcome entry into the market and demonstrates how the QDIA landscape has evolved."
Tom Rosedale, CEO of Newfound, said: "We are delighted to be taking this key step with 3D, as Newfound enters the retirement plan space for the first time. 3D’s openness to new ideas enabled a truly collaborative partnership whereby we could integrate our tactical models not only with 3D’s strategic allocations, but with the glide path as well. The 3D/Newfound PrudentPath series is the first retirement series that incorporates both an investor’s risk appetite via the glide path while also triggering the tactical decisions being made so that they are in line with an investor’s retirement goals."
