T. Rowe Price has launched a new 401(k) plan targeting sole proprietors who typically sock away retirement savings in SEP-IRA or profit-sharing retirement plans.

The fund provider’s new plan offering suggests that larger financial service providers are paying more attention to the growing number of small businesses as a way to expand their 401(k) market share. A growing number of mutual fund providers like Pioneer Investments also offer individual 401(k) plans.

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