DailyAccess.Com, formerly Daily Access Concepts, has launched a new product for the 401(k) arena:
Discovery K. It will utilize the same tracking system as the firm's other 401(k) products,
Enterprise Kand
Access K.
"This service is designed to be sold through investment advisors and brokers, and it is targeted to start-up plans," Greg Carpenter, ceo with the firm, told the MFWire.com.
Officials at DailyAccess.Com have included a number of features for
Discovery K, including sales and marketing tools for brokers as well as the means to generate information necessary for a plan document in an RFP situation. "The financial advisor will be able to specify which mutual funds they will need in a plan. This is a multi-family product. The closest competitor to it will be
Fidelity's
e401k," Carpenter contended.
Participants will be able to trade on Discovery K 24 hours a day/seven days a week. Officials at the firm want to rely heavily on the relationships financial advisors have with plan sponsors. "We want to stress that we are a co-marketer with the broker and the investment company, and we are not in competition with either. Our goal is alignment with those businesses," he added.
The new product launch coincides with the firm's change of name. "The name change doesn't affect how we operate at all. All it does is reinforce what we have been doing in the marketplace already, which is
putting 401(k) plans up on the Internet. It also demonstrates that we have a suite of services beyond recordkeeping and administration," Carpenter reported.
The firm has also changed the look and feel of its Web site. Those changes are effective as of today. 
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