Staff
American investment manager Vanguard has announced it will offer a bundled 401(k) plan service for small companies.
The service is designed for 401(k) and profit-sharing plans with assets below $20 million.
The new service will include funds, recordkeeping, call centre services, compliance testing, participant education and optional services such as participant advice, self-directed brokerage and trustee services. The service is expected to launch in the fourth quarter.
The service will be offered directly to plan sponsors as well as to fee-only advisors who serve sponsors and may be interested in a bundled approach.