SOURCE: BrightScope

BrightScope

January 05, 2011 09:00 ET

BrightScope Welcomes Former Fidelity Investments Executive Scott David as Advisor

Leading 401k Ratings and Analytics Firm Taps Finance Veteran to Further Its Mission to Improve Americans' Financial Futures

SAN DIEGO, CA--(Marketwire - January 5, 2011) - BrightScope (www.brightscope.com), the leading independent provider of retirement plan ratings, today announced that Scott David, a recognized leader in the financial industry, has joined its Advisory Board and will serve in an ongoing capacity as an Advisor to the company and its executives. The decision verifies BrightScope's ability to bring unprecedented transparency to the retirement planning industry and beyond.

"Scott David's extraordinarily successful career has made him one of the most respected names in financial services today," said Mike Alfred, CEO and co‐founder of BrightScope. "His addition to BrightScope's Advisory Board will open new doors and help the company further extend its leadership position within the industry. In addition, he shares our vision for BrightScope's future as the next great financial data business and has the knowledge and connections to help us execute against that vision."

David was President of Workplace Investing at Fidelity Investments until 2010. In that role, he was responsible for all aspects of Fidelity's defined contribution, defined benefit and stock plan administration. Fidelity is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket, a leading online brokerage firm and one of the largest providers of custody and clearing services to financial professionals. He joined Fidelity in 2003 and also held several leadership positions within Fidelity Employer Services Company. Prior to joining Fidelity, David was president of U.S. Retirement Services at Scudder Investments for Deutsche Bank in New York. He has been the keynote speaker at various pension conferences and also serves as a board member of the Employee Benefit Research Institute.

"The financial turmoil this country has seen over the past few years has brought a renewed interest in the importance of saving and planning for retirement," said David. "BrightScope has already established itself as the leader in 401k plan ratings and investment research and I'm excited to work with the company going forward to create innovative financial tools and products that will improve the financial security of American workers."

BrightScope has built an unparalleled database of 401k plan analytics, and a robust suite of products and services to enhance transparency of plan performance and fees for sponsors, advisors, asset managers, and participants. The company has rated more than 55,000 401k plans, spanning 30 million workers and $2 trillion in assets, obtaining its data directly, either from plan sponsors, or from publicly available sources ranging from The United States Department of Labor (DOL) to the Securities and Exchange Commission (SEC).

BrightScope is the only truly independent 401k analytics service and does not accept compensation in the form of revenue sharing from mutual fund companies or plan providers. More information about BrightScope is available at http://www.brightscope.com.

About BrightScope

BrightScope is committed to helping America's workforce retire in dignity. BrightScope is an independent data analytics firm that quantitatively rates 401k plans and gives employers, employees, and advisors tools to enhance plan performance and maximize retirement outlook. The BrightScope Rating™ developed in partnership with leading independent 401k fiduciaries, reviews more than 200 unique data inputs per plan and calculates a single numerical score which defines 401k plan quality at the company level. BrightScope-published ratings, rating definitions, criteria and methodologies are available on the company's public site, www.brightscope.com.

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