Newkirk Products, Inc., has agreed to distribute NewRiver’s Prospectus Express product in the 401(k) and 403(b) markets via Newkirk’s Fund Central platform. Prospectus Express allows electronic delivery of compliance grade prospectuses and other disclosure documents for mutual funds, ETFs, UITs and other prospectus-delivered securities. Fund Central provides online performance and investment information to retirement plan participants. Implementation is expected to be completed in early September.
Newkirk will use NewRiver’s Virtual Document Warehouse (VDW) to shift from “pick and pack” delivery of paper compliance documents to print on demand (POD) for first-dollar-in and fund-change-notice applications. Newkirk customers will be notified about this service’s availability at a future date.
“From a compliance and cost point of view, printing six page Summary Prospectuses digitally, when required, is superior to the legacy method of printing to stock, transporting, then assembling compliance packages at a distribution site. We are pleased to be working with Newkirk to implement this streamlined document delivery system for the retirement market,” said Russell Planitzer, NewRiver’s CEO and chairman.
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