Testimonials
Plan Sponsors
“The BrightScope Rating creates a way for employees, reporters and others to understand the true value of this important benefit to our employees. Lockheed Martin Corporation is focused on providing our employees with competitive benefits, of which the 401k plan is one of the primary elements. We regularly employ tools such as BrightScope Rating to benchmark our benefit plans to other employers and to help us achieve our business objectives.”
-George Keagle, Director of Benefits, Lockheed Martin Corporation
“BrightScope provided me with an unbiased and independent benchmark to compare our 401k plan versus peers across the country, without being "sold" by a competing investment firm. As a result, I was able to see where our plan costs were in comparison to plans our size, and will be able to use this information as leverage to reduce our plan fees. In addition, I was able to see where we are, or are not, competitive with our 401k plan versus our peer group and what steps we might be able to take to improve our quantitative rating score and improve the plan for our employees. We were also able to see the areas where we are favorably competitive and use that information as a tool in negotiations with prospective employees. In short, I think BrightScope has developed a 100% quantitative, independent analysis for 401k plans that will be a valuable resource for companies to benchmark their plans compared to plans of similar size, industry and demographics in an era of increased fiduciary scrutiny.”
-R. Craig Spitz, CFO, Synteract, Inc.
“BrightScope has provided PETCO with valuable insights into the true investment returns of the funds in our 401k program. True transparency will allow us to negotiate more effectively to minimize hidden fees and to help maximize returns for our associates in helping them prepare for retirement.”
-Julie Cunningham, Director of Total Rewards, PETCO
Financial Professionals and Service Providers
“For too long, 401k sponsors and participants have been kept in the dark
about their plans' true costs (which are often far too high) and investment
options (which are often deeply flawed). By providing comprehensive,
comparative information on expenses, eligibility, company generosity,
participation rates, and more, BrightScope changes that game fundamentally.
For plan sponsors, participants, and fiduciary service providers,
BrightScope is truly a great leap forward.”
-Kevin S. Price PhD, Chief Investment Officer, Interlake Capital Management, LLC
“The 401k industry suffers from a lack of transparency, keeping fees high and retirement savings low. BrightScope is a tremendous tool that unlocks valuable 401k plan information allowing employers to make well-informed decisions and employees to retire with the nest egg they deserve. Being a fiduciary it is my job to make certain that employees within our 401k plan are receiving a top quality product; BrightScope's high-powered analytics play a crucial role in achieving this objective.”
-Cris Borden, Investment Fiduciary for the Hawaii Prosperity 401k Plan
“The BrightScope Rating Engine creates a new industry standard for evaluating and benchmarking 401k performance across the country and delivers online 401k performance transparency. Increased transparency will ultimately be a boon for 401k plan sponsors and their participants.”
-Joshua P. Itzoe, a Principal of Greenspring Wealth Management and author of
Fixing the 401(k): What Fiduciaries Must Know (And Do) To Help Employees Retire Successfully
Press
“How do you compare 401k plans? Well if Mike Alfred and his brother are right, you don't do it very well. They've launched a new company called BrightScope which hopes to change all that. BrightScope has come up with a pretty cool technology for comparing plans and doing so is important for sponsors, brokers, and individual workers. Alfred has his sights set on making the world of 401k plan comparisons easy -- easy on the worker, the employer and even the broker.”
-Robert Whiddon, Editor, Employee Benefit Adviser
Thought Leaders
“BrightScope is very intuitive yet backed by solid research. It's a powerful tool for those who approach investing as a science.”
Plan Participants
“Before I discovered BrightScope, I assumed all 401k plans for big companies were basically the same. I also assumed that my personal investment decisions were the most critical factors affecting my ability to retire. I now know that this is NOT the case. Thanks to BrightScope I have a much better understanding of the factors such as plan fees that are really driving retirement outcomes. In addition, I feel confident now because I have independent verification that I am investing in a great plan.”
-Jeffrey Rothrock, 401k Participant, Hewlett-Packard Company
