Ancora Advisors Offer Open Architecture 401K Plans Through Source Companies

CLEVELAND, Sept. 1 /PRNewswire/ -- With so much confusion regarding choosing a retirement plan, investing for the future, selecting a financial  advisor, and retiring on time, Ancora Advisors is proud  to introduce a low  cost solution: Open Architecture 401K products offered through Source Companies.

Source is an independent fee only investment advisor and provides an open  architecture platform for sponsors and their plan participants. The primary benefits of the open architecture are the huge array of investment choices, transparent fee structure, active management, and low expenses.  In addition, many  401K investors who are concerned that their retirement investments correlate too closely to the overall stock market, can now invest in alternatives, including sectors funds and ETFs.

Peter Mooney, President of Source Companies points out, "What many 401K plan sponsors and participants fail to realize is the wide variety of open architecture plans allow the sponsor to choose from a huge universe of investment  options. We customized 401K plans whereby participants can create a portfolio outside of the S&P 500 or Dow if they wish."  Since Source receives no compensation other than the management fee, it is in their best interest to help the plan sponsors select the investments with the lowest fees.

As a SEC Registered Investment Advisor, Source Companies has a fiduciary relationship with its clients, and an ethical responsibility to act in their favor, which many 401K providers simply do not have. The open architecture platform allows plan providers to act solely for the benefit of the clients by providing the most suitable product for the client at the lowest overall price.  Most fiduciaries of 401K plans lack the expertise that Source has in the 401K market.

For more information on Source Companies, please visit www.sourcecompanies.ws.  For information on Ancora Advisors, please visit www.ancora.ws.

SOURCE Ancora Advisors