Wachovia Goes After "Emerging" Businesses

January 26, 2005 (PLANSPONSOR.com) - Wachovia Retirement Services is expanding its services to emerging small to mid-sized businesses with 401(k) plan assets ranging from $500,000 to $3 million, Wachovia announced.

According to a Wachovia news release, the expanded product offers investment choice and flexibility, asset management expertise and the company’s AdviceTrack-managed account option.

“We now offer full-service retirement plans designed for companies of all sizes,” said Scott Joyner, defined contribution sales manager, in the news release.

“Offering a managed account solution to clients in these plans could benefit the participant, as this type of service has not traditionally been available for plans of this size,” said Keith Sykes, defined contribution product manager, in the announcement.

Wachovia said that services offered to the emerging businesses include:

  • recordkeeping and administrative services
  • trust and custody services
  • a range of mutual fund investment options
  • compliance testing and reporting, including assistance with plan document preparation and Signature Ready Forms 5500
  • m anagement reporting
  • full-service participant service centers and voice response units
  • Internet sites for participants, sponsors and financial professionals
  • participant statement production and fulfillment
  • plan sponsor and participant communications.

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