Vanguard shifting record keeping to outside firms [retirement plans]

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Barry Barnitz
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Vanguard shifting record keeping to outside firms [retirement plans]

Post by Barry Barnitz » Thu Apr 26, 2018 10:27 am


Vanguard has announced changes to its corporate retirement plan services by assigning record-keeping duties of its self-directed brokerage to TD Ameritrade and transferring record-keeping duties of its non-qualified plan business to Newport Group.

News reports: Vanguard press release: Affected plan participants:
Within Vanguard's institutional DC business, self-directed brokerage options represent a tiny portion of participants — less than 1% out of 4.6 million. Vanguard participants had invested $2.8 billion in options offered by the self-directed brokerage as of March 31.

... Existing self-directed brokerage clients under Vanguard's record-keeping platform will be transferred to the TD Ameritrade platform beginning in June — a process that will take until early 2019 to complete.
The transition for the non-qualified plan record-keeping business will start in early 2019 affecting 520 Vanguard clients with 45,000 participants and $3.8 billion in assets.
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