Plan sponsor clients of ADP Retirement Services will now have the option of offering their participants access to self-directed brokerage accounts in conjunction with their standard defined contribution plan.
The New Jersey-based provider of retirement plans announced a new relationship with TD Ameritrade, the online broker that is also the custodian for 4,500 independent registered investment advisors.
Access to ADP's clients, who, according to a news release, do business in 100 countries, could be a boon for TD Ameritrade's team of RIAs. Participants' new ability to reconstruct their portfolios through the brokerage accounts will come with access to RIAs who can consult on how to best shape a portfolio.
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