Institutional > Passport Trading Platform
The Benefit Trust Passport Trading Platform (Stand-Alone or Packaged)
Benefit Trust is a member of the National Securities and Clearing Corporation (NSCC), the world's leading provider of centralized clearance, settlement and information services, supporting trading and settlement for more than 350 mutual fund families consisting of 20,000+ mutual funds. Through a secure and automated connection these mutual funds are made available to address plan sponsors investment needs.
Revenue Sharing
Benefit Trust offers a comprehensive revenue sharing product giving clients access to fees offered by mutual fund companies. Benefit Trust collects and distributes the payments.
The payments are in the form of shareholder, sub-transfer agency or service fees paid on the market value of the client's mutual fund position.
In some instances, the fee is based upon a per participant basis. Details of the product include:
  • 12b-1 reclassification when no broker-dealer present
  • Calculate, invoice, report and collect
    • Detailed plan level / CUSIP level reporting
    • Calendar quarterly distribution of reports and fees
  • Fees can be deposited back into the plan or used to offset plan expenses
  • Mutually agreed upon service level agreements
Exchange-Traded Funds
Benefit Trust has created a product for recordkeepers, third-party administrators and plan sponsors that allow access to Exchange-traded funds (ETFs), which can be utilized in a daily valuation retirement plan investment lineup.
Through the use of the product, Benefit Trust eliminates the operational burdens associated with ETFs.
Advantages of this product include:
  • Mutual funds and ETFs can be in the same plan
  • Has advantageous characteristics of a mutual fund
  • Allows fractional share ownership
  • Before market/after-market options