According to the statement, clients on SunGard’s OmniPlus and Relius Administration 401(k) recordkeeping programs can get the direct line access to the Ameritrade Retirement Account, the self-directed brokerage service.
SunGard said clients of the two RK programs include more than 1,500 third-party administrators.
According to the companies, the Ameritrade Retirement Account employs:
- a paperless account opening process
- an online trading window tailored to 401(k) permitted investments
- integration with SunGard’s recordkeeping platform on a nightly basis to facilitate money movement between accounts.