Mid Atlantic Trust Company says it has resolved recordkeeping problems that have kept exchange-traded funds from being part of holdings in 401(k) and other retirement plans.
The state-chartered trust company says it has resolved a problem with fractional shares that result from trading in ETFs that have kept such funds from being kept in retirement plans. The firm says it will buy and sell whole shares in the market and hold fractional shares as necessary. This will allow “dollar certain” transactions that until this have prevented the information systems that keep track of funds from recognizing and tracking ETF shares.
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