PURCHASE, N.Y. - Diversified Investment Advisors Inc. said it has created a brokerage option for its 401(k) accounts that will allow plan participants to select their own brokerage to manage their retirement accounts.
The option is open to all participants, but the company said it is targeting professional firms because many have long-standing relationships with brokerages. It noted that most 401(k) participant are assigned brokers. Diversified Investment Advisors has $35 billion of retirement plan assets.
