In Brief: B of A Unit Offers a 401(k) Product

December 14, 2000, 2:00 a.m. EST 1 Min Read

CHARLOTTE, N.C. Banc of America Capital Management is offering a bundled 401(k) product aimed toward to its midsize and large customers.

The Bank of America Corp. unit announced the introduction Tuesday.

The product was developed by Diversified Investment Advisors, of Purchase, N.Y., which specializes in both qualified and nonqualified retirement plans.

The new plan will offer more mutual funds from Diversified as well as from Nations Funds, Bank of Americas mutual fund family.

Each company will provide asset management services for its own funds. In addition, Diversified will provide plan administration and participant record keeping. Capital Management will market the plan and provide client management services.

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