Summary
The adoption and growing use of exchange-traded funds is revolutionary. They possess a clear set of characteristics that satisfy the modern tastes of today’s investors. Their proliferation is evident in the institutional trading community, the retail community, and even the retirement savings community. Their use in 401(k)s and other plans are slowly being adopted. Those plans have been slower in their adoption of ETFs due to legacy systems for recordkeeping, settlement, secondary market issues, and distribution fees. But the customer demand is pushing development, and use of ETFs is forcing the modernization of these systems. The desire of investors for transparency, lower fees, tax efficiency and standardization is obvious, and future ...
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