Paychex Adds Dimensional Fund Advisor Options
by Terri Eyden on
"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 forty 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.