Press Release
Ameritrade and SunGard Announce Agreement to Provide Self-Directed Brokerage Accounts
Birmingham, AL, August 22, 2002 -- Ameritrade Corporate Services, SunGard Employee Benefit Systems and SunGard Corbel have announced that the Ameritrade Retirement Account, a self-directed brokerage service, is available to clients using SunGard’s 401k recordkeeping solutions OmniPlus and Relius Administration. Clients of these SunGard solutions - including more than 1,500 third party administrators – are now able to connect to the self-directed brokerage account using the SunGard Transaction Network.
"The Ameritrade Retirement Account provides plan participants enhanced options and flexibility in managing their retirement plans," said Vince Passione, president of Ameritrade’s Institutional Client Division. "We provide retirement investors with value, a client-friendly platform and seek best execution for their trades."
Ameritrade leverages its competitive advantages including a strong brand, value, and innovative technology for institutional partners. In addition, the Ameritrade Retirement Account employs a paperless account opening process, an online trading window tailored to 401k permitted investments, and seamless integration with SunGard’s record keeping platform on a nightly basis to facilitate money movement between accounts.
David Kennedy, president of SunGard Employee Benefit Systems, commented, "By enhancing our recordkeeping solutions to include the Ameritrade Retirement Account, our clients can offer plan participants a seamless integrated solution for investment products - - without the upfront cost of building the integration."
Don Mackanos, president of SunGard Corbel, added, "We're confident that our relationship with Ameritrade will meet the needs of our Relius Administration clients, giving them a strong competitive advantage. With continued growth of self-directed accounts in the 401k market, we're pleased to have a name brand partner ready to help our clients meet the demand. The technology interface gives our clients an efficient way to offer this service without the associated costs of developing their own interface."
About Ameritrade Corporate Services
Ameritrade Corporate Services, a business unit of Ameritrade Holding Corporation’s Institutional Client Division, provides self-directed brokerage services to employees, directly or through partnerships with benefits administrators such as 401k plan providers and benefits consultants. To learn more visit www.ameritradeinstitutional.com
About SunGard Employee Benefit Systems
SunGard Employee Benefit Systems provides administrative systems and services, document generation systems, multi-media based training, and plan sponsor/participant outsourcing solutions for the retirement plan market. SunGard offers practical, cost-efficient solutions that suit clients ranging from the very largest to the smallest providers of retirement plan services. Visit SunGard Employee Benefit Systems at www.ebs.sungard.com.
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