Solution Will Serve More Than 20,000 of ADP’s Retirement Clients and Over One Million Investors Nationwide
ROSELAND, New Jersey and CHELMSFORD, Massachusetts — February 18, 2009 — ADP ® Employer Services, a leading provider of HR, payroll and benefits administration services, and GuidedChoice ™, a leading provider of investment advice and managed account services, today announced a partnership to provide personalized advice to ADP retirement plan recordkeeping clients and their participants.
The relationship will allow ADP to make available GuidedChoice’s innovative GuidedSavings (SM) service to more than 20,000 ADP retirement plan recordkeeping clients and their participants nationwide. The GuidedSavings service works with the investments already available in each employer’s plan, and delivers to each plan participant investment advice based on asset allocation models and proprietary analytics. This advice and guidance solution actively manages participants’ accounts according to their personal, recommended investment strategy.
This affiliation offers numerous advantages to advisors, plan sponsors and participants, including:
— Partnership with Industry Leader – By signing up for the GuidedSavings
program, ADP plan sponsors enhance their retirement program and provide
employees with important investment advisory services offered by
GuidedChoice, an industry leader in 401(k) plan managed accounts;
— Personal Support for Employees – Employees will have access to the
GuidedChoice Call Center — a valuable resource offering participants
investment-related support. Participants also have access to an easy-to-use
Web site for program and investment information;
— Additional Fiduciary Protection – Since GuidedChoice provides
investment advice to participants enrolled in the GuidedSavings program,
ADP plan sponsors benefit from fiduciary protection for those participants
using the service.
“Our relationship with GuidedChoice is indicative of ADP’s commitment to providing services that exceed our clients’ expectations,” said Doug Politi, President of ADP Retirement Services. “Through this partnership, ADP retirement plan clients gain access to valuable investment-related support via the GuidedChoice Call Center, in addition to the world-class recordkeeping and retirement services for which ADP is known.”
The GuidedSavings application imports basic information and plan rules, which are critical for accurate portfolio recommendations. This makes the GuidedSavings solution unique because when participants “accept advice,” the software will send investment instructions directly to the recordkeeper or employer for implementation.
“Making high-quality investment advice available to any employee, anywhere has always been our mission as a company every step of the way,” said Sherrie Grabot, CEO, GuidedChoice. “Our partnership with ADP represents a tremendous opportunity that is well-aligned with our strategic goals.”
Automatic Data Processing, Inc. (NASDAQ: ADP), with nearly $9 billion in revenues and over 585,000 clients, is one of the world’s largest providers of business outsourcing solutions. Leveraging nearly 60 years of experience, ADP offers the widest range of HR, payroll, tax and benefits administration solutions from a single source. ADP’s easy-to-use solutions for employers provide superior value to organizations of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, please call 800-225-5237 or visit the company’s Web site at www.ADP.com.
GuidedChoice is an independent service firm providing investment advice and managed account services to individual retirement plan participants. Their patented business process is based on their team’s extensive, real-world experience with investors, retirement plans and investment managers. GuidedChoice advice is based on trusted industry standards of asset allocation, built into the software analytics and delivered through sophisticated automation. Their solution offers one-click implementation to participants and simple, automated integration to plans and plan sponsors.
The GuidedChoice team includes leaders and innovators from the financial services, human resources, and technology fields. The team responsible for overseeing the development of the advisory software and investment solutions is led by Harry Markowitz, Ph.D., the Nobel laureate who developed Modern Portfolio Theory. Dr. Markowitz has over forty years of experience working with financial theory, developing optimization software, and managing assets, and is actively involved in the day-to-day refinement of the GuidedChoice analytical software. GuidedChoice is headquartered in La Jolla, CA, with sales and communications offices in San Jose, CA. For more information, visit www.guidedchoice.com.