UBOC Offers New Self-Directed Brokerage Option

February 12, 2001 (PLANSPONSOR.com) - Union Bank of California has launched a truly self-directed brokerage account for 401(k) participants, allowing them to choose their own broker, as well as stocks, bonds and mutual funds.

The SELECTBENEFIT Individually Directed Account offers trading in publicly traded stocks, bonds and mutual funds.  The service offers access to account balances via:

  • the Internet
  • Voice Response Unit (VRU)
  • Call center

UBOC also offers on-site employee education as part of the program.

San Francisco-based UBOC’s institutional services trust division has more than $138 billion in assets servicing the 401(k), employee benefit trusts, custody, corporate trust and investment management markets.