JP Morgan Asset Management has upgraded its Target Date Compass, a tool used by advisors to guide plan sponsors through an increasingly complex target date fund universe.
The new Target Date Compass will serve as a resource for the timely, accurate and prudent analysis of the target date fund universe. It features expanded analytics, more intuitive design, simplified charts and a tablet-friendly interface.
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Launched in 2008 and powered by data from Morningstar, Target Date Compass will guide plan sponsors to evaluate the critical differences among target date funds as well as determine which target date funds fit their plans’ goals.
In addition, the new program will ask plan sponsors to consider plan criteria including objectives, risk tolerance, demographics and expected participant behavior.
The Target Date Compass Quadrant Map, which is designed based on the answers of plan sponsors, will enable them to focus on a group of funds that are likely to match the plan’s goals.
Catherine Peterson, global head of insights programs at JP Morgan Asset Management, said: "More than anything, Target Date Compass aims to facilitate the critical conversations that plan sponsors need to have with their advisors about which target date funds are right for their participants."
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By GlobalDataMichael Falcon, JP Morgan Asset Management’s head of retirement, said: "Offering such a program is just one of the many ways that JP Morgan can help plan sponsors and their advisors make more-informed decisions."
