Persumma clients should have access to the service in the second quarter.
Under the partnership, there is no annual fee for 401(k) brokerage accounts and no minimum deposit required to open the account. There is no minimum balance, and the commission fee is said to be “among the lowest price for brokerage within a 401(k) available today”, according to the press release.
The combination will allow Persumma 401(k) client participants to access their fund balances and brokerage positions side-by-side in one online view.
Participants will also get access to Ameritrade’s investment tools, including online market research and customized e-mail alerts.