BISYS Tapped As Ameritrade SDBA Recordkeeper

October 16, 2002 ( - Self-directed brokerage account (SDBA) clients of Ameritrade in company retirement plans now have a new recordkeeper.

Ameritrade announced that BISYS would support the Ameritrade Retirement Account, a  self-directed brokerage service offered to retirement plan participants.

According to Ameritrade, its SDBA offering:

  • allows paperless account opening
  • features an online trading window tailored to support 401(k) permitted investments
  • will be integrated with BISYS’ recordkeeping system.

Ameritrade said clients can manage their retirement investments online via the Web, through an interactive voice response telephone system, or through a broker.