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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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
