Open Architecture is Officially Lingo

I recently attended a financial planning meeting graciously hosted by my company.  We are in the process of changing 401K planning providers and this was a little “Saving for Retirement 101”.

Midway through the presentation the financial planner speaking to the group drops this little bomb into his spiel, “And our mutual fund selection process offers an open architecture model enabling you to…”.

Huh?

I am the first to admit that I know little to nothing about the financial services industry, but isn’t this a little like Ford telling me that because I can buy a wrench to fit the bolts on my truck they have offered an “open architecture”?  Well, maybe they have.

I guess I am mostly blown away that geek lingo made it into a stock broker’s mouth instead of the other way around.  I have no lessons to learn here, but this was one of those things that make you go, “hmm…”.