Dimensional Fund Advisor has made its way onto Paychex’s Open Fund Select and Advisor Select platforms. Paychex provides of payroll, human resource, and benefits outsourcing services, including 401(k) plan recordkeeping, for small- to medium-sized businesses.
Dimensional’s funds, which include over 40 institutional fund choices, are best suited for plans with fee-based advisors or accounts not using the services of a broker, according to the firm.
"These Dimensional funds are highly respected in the financial advisor community,” stated Paul Davidson, director of product management at Paychex. “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 managed over $245 billion in assets as of March 31.