Get more! Sign up for PLANSPONSOR newsletters.
Products February 5, 2002
TRUSTlynx Offers Participant Directed Accounts
May 2, 2002 (PLANSPONSOR.com) - Participants in
retirement plans serviced by TRUSTlynx may be able to enjoy
the flexibility of self-directed accounts, which they can
manage online.
Reported by Fred Schneyer
TRUSTlynx announced the new capability, which it now offers to third-party administrators to market to their plan sponsor clients. TRUSTlynx provides custody and electronic trading support to daily-valued retirement programs.
According to the TRUSTlynx announcement, its Individually Directed Accounts (IDAs) allow participants to invest in mutual funds, as well as individual stocks and bonds. The employees can trade online, monitor their accounts online, and have online access to an advisor.
TRUSTlynx officials said their system also gives plan sponsors more flexibility in choosing their investment lineup and deciding how their plan can best use the IDA capability.
According to TRUSTlynx, it transmits data between the third-party administration’s recordkeeping system and the plan’s online brokerage system.