Hennion and Walsh has introduced a new product that attempts to solve the problem of how to get ETFs into 401(k) plans. Kevin Mahn, managing director of Hennion & Walsh told The MFWire that the way to do it is in a '40 Act fund wrapper.

Hennion has introduced three new products that do just that. The new SmartGrowth ETF Lipper Indexes which include the: Optimal Conservative Index, Optimal Moderate Index and Optimal Growth Index will be funds-of-ETFS. A fourth income oriented fund-of-ETFs is also in the pipeline, Mahn said.

Lipper, which Hennion has an exclusive agreement with, will be putting the indexes together, he said.

The funds are currently available on 45 different platforms, including Fidelity, Pershing, LPL and Wachovia, Mahn said.  

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