Deals & People April 3, 2009
Smith Barney Adds ADP to Plan Platform
Smith Barney has expanded its plan provider platform to include ADP.
Reported by Fred Schneyer
A news release said Smith Barney financial advisers can now offer ADP’s 401(k) to small to mid-sized plan clients.
According to the announcement, the flow of data between the payroll and recordkeeping systems “helps eliminate manual intervention and potentially reduces administrative burden and cost to business owners.”
“As a result of this new relationship, our business clients benefit from ADP’s convenient one-stop solution for both payroll and recordkeeping services– and also have the advantage of working with an experienced financial adviser to help the plan and its participants make informed choices,” said Rochelle Silverstrom, Director of Smith Barney’s Business Retirement Solutions Group, in the announcement.