ADP and GuidedChoice Partner to Make Available Investment Advice to Retirement Plan Participants
Solution Will Serve more than 20,000 of ADPâ??s Retirement Clients and Over One Million Investors Nationwide
ROSELAND, NJ and CHELMSFORD, MA (February 18, 2009) – ADP ® Employer Services, a leading provider of HR, payroll and benefits administration services, and GuidedChoice TM, a leading provider of investment advice and managed account services, today announced a partnership to provide personalized advice to ADP retirement plan recordkeeping clients and their participants.
The relationship will allow ADP to make available GuidedChoice’s innovative GuidedSavings SM service to more than 20,000 ADP retirement plan recordkeeping clients and their participants nationwide. The GuidedSavings service works with the investments already available in each employer’s plan, and delivers to each plan participant investment advice based on asset allocation models and proprietary analytics. This advice and guidance solution actively manages participants’ accounts according to their personal, recommended investment strategy.
This affiliation offers numerous advantages to advisors, plan sponsors and participants, including:
* Partnership with Industry Leader – By signing up for the GuidedSavings program, ADP plan sponsors enhance their retirement program and provide employees with important investment advisory services offered by GuidedChoice, an industry leader in 401(k) plan managed accounts;
* Personal Support for Employees – Employees will have access to the GuidedChoice Call Center – a valuable resource offering participants investment-related support. Participants also have access to an easy-to-use Web site for program and investment information;
* Additional Fiduciary Protection – Since GuidedChoice provides investment advice to participants enrolled in the GuidedSavings program, ADP plan sponsors benefit from fiduciary protection for those participants using the service.
“Our relationship with GuidedChoice is indicative of ADP’s commitment to providing services that exceed our clients’ expectations,” said Doug Politi, President of ADP Retirement Services. “Through this partnership, ADP retirement plan clients gain access to valuable investment-related support via the GuidedChoice Call Center, in addition to the world-class recordkeeping and retirement services for which ADP is known.”
The GuidedSavings application imports basic information and plan rules, which are critical for accurate portfolio recommendations. This makes the GuidedSavings solution unique because when participants “accept advice,” the software will send investment instructions directly to the recordkeeper or employer for implementation.
“Making high-quality investment advice available to any employee, anywhere has always been our mission as a company every step of the way,” said Sherrie Grabot, CEO, GuidedChoice. “Our partnership with ADP represents a tremendous opportunity that is well-aligned with our strategic goals.”
Source: ADP
