He said the union added the brokerage option because some pilots were not satisfied with the 12 mutual funds in their 401(k) plan.
"There were employees who were asking for different investment options than we were offering," said Wayne Rancourt, director of retirement funds and risk management at the Boise Cascade Corporation, which has offered a brokerage option since 1994.
Because federal law prohibits companies from giving perks in 401 k)'s only to an elite group, companies that provide a brokerage option must offer it to all employees, even to those bewildered by the choices they already have.
Also inquire about whether your plan has a self-directed brokerage option.
Kapitall is trying to offer a simpler, more easy to use online brokerage option to consumers who may be challenged by using E-Trade, TD Ameritrade and others.
In a joint statement yesterday, the companies said the partnership would add a brokerage investment option to the Persumma 401 k), permitting participants to self-direct investments in individual securities through the Internet.
OptionsXpress, which provides stock and options brokerage services, rose $2.57, or 16.76 percent, to $17.90.
C1 S.E.C. Faults Firms on Options Brokerage firms have pocketed millions of dollars from the new competitive arrangement in the trading of stock options, while passing on almost none of the money to customers, the Securities and Exchange Commission concluded in a study.
Deutsche Bank filed an arbitration case in 2005 against the Khans and their investment firm, Digital Age Capital, for failing to pay the fees for an options brokerage account they held with the firm.
Thus, unless the cloud provider acts as a monopoly brokerage supplying instance options, R&C's brokerage model looks unsustainable in the face of potential competition.
