Nationwide Participants to Self-Direct via DLJdirect

May 11, 2000 ( - DLJdirect is entering the self-directed brokerage 401(k) business, via a partnership with Nationwide Financial, offering DLJdirect online brokerage services to participants in employee benefit plans administered by Nationwide.

DLJdirect, a unit of Donaldson, Lufkin & Jenrette , will be the sole provider of self-directed brokerage accounts to Nationwide participant-directed, employer-sponsored retirement plans. Clients of Nationwide employee benefit plans that choose the self-directed brokerage option will have access to the full range of investment products and services offered by DLJdirect.

The complete package of offerings includes trading in stocks, mutual funds, IPOs, online and wireless account access, real-time quotes and news, and research.

DLJdirect will co-brand every aspect of Nationwide’s client interface, from online to over the telephone, including all financial statements and other correspondence.

Nationwide provides plan administration services to approximately 21,000 companies, with more than 650,000 participants.