Capital One has added Spark 401k, an all-exchange-traded fund 401(k) plan, to its products for businesses with fewer than 100 employees.

Spark 401k plans use model portfolios to simplify investment selection; plan sponsors can receive assistance from customer success managers and customer care agents in choosing and managing retirement benefits. Spark 401k also offers online plan management.

A Capital One representative said that the company takes “a diverse approach to distribution, using many channels to drive awareness of the offering.” While Capital One sells through advisors and broker-dealers, its primary sales channel is direct to small businesses. Ascensus and PAI are the recordkeepers for Spark 401k, and Capital One Advisors acts as the plans’ 3(38) fiduciary and investment manager — thus relieving the plan sponsor of fiduciary responsibility for investment decisions.