The asset management firm's funds will now be available on the Paychex Open Fund Select and Advisor Select platforms.
The Rochester, New York-based recordkeeper is a leader in the small plan market.
The news was originally covered in our sister publication, the 401kWire.
Company Press Release
Paychex Adds Dimensional Fund Advisor Options to Open Fund Select and Advisor Select Platforms
Rochester, N.Y. (September 10, 2012) – Paychex, Inc., one of the nation’s leading providers of 401(k) recordkeeping services for America’s businesses, today announced the addition of Dimensional Fund Advisor funds to the Paychex Open Fund Select and Advisor Select platforms.
“Paychex is constantly working to help small businesses expand retirement offerings” said Paul Davidson, director of product management at Paychex. “These Dimensional funds are highly respected in the financial advisor community. We are delighted that we can now offer them to clients as part of their 401(k) plans to help them and their employees reach their retirement goals.”
Dimensional Fund Advisors is a global asset management firm with over $245 billion of assets under management as of March 31, 2012, including $135 billion in assets managed globally for over 2,600 financial advisors. According to Dimensional, it offers research-based investment strategies that seek to provide higher than expected returns. Cogent Research’s annual Advisor Brandscape report states that financial advisors ranked Dimensional as the fund family they were most committed to three years in a row. Cogent measures commitment based on an advisor’s expressed likelihood to recommend a brand and intention to increase their allocation to that brand.
Dimensional Fund Advisor funds, which include over 40 institutional fund choices, are best suited for clients with fee-based advisors or accounts not using the services of a broker.
These funds are now available to existing and new Paychex clients using both the Paychex Open Fund Select and Advisor Select platforms.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com.