October 14, 2014
Deutsche Bank and Fidelity Investments combined forces to provide 401(k) retirement plan for the bank’s 22,000 plan members including professionally administered account services and a self-directed brokerage window. The plan represents the management of goods worth $2.4 billion.
“Fidelity continues to make significant investments in the technologies necessary to provide the best retirement plan experience possible,” said Steve Patterson, executive vice president of Sales, Fidelity Investments. “This has led to multiple innovations – such as our use of data analytics to help employers better design and administer their programs, and new tools to increase employee engagement. And it’s how we continue to earn the business of some of the world’s leading companies.”
Enhanced Plan Design and Investment Options Help Employees Achieve Better Outcomes
Understanding that each employee is unique with different goals and needs, Deutsche Bank crafted its plan to help boost employee retirement readiness. This included auto enrolling employees, a generous company match and an elective auto increase program to boost savings rates over time. The bank now also offers Fidelity’s workplace managed account offering, Portfolio Advisory Service at Work (PAS-W). PAS-W provides a professionally managed, model portfolio based on an employee’s specific investment needs, risk tolerance and evolving financial situation.
About Fidelity Investments
Fidelity’s goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $4.9 trillion, including managed assets of $2.0 trillion as of September 30, 2014, we focus on meeting the unique needs of a diverse set of customers: helping 23 million people investing their own life savings, 20,000 businesses to manage their employee benefit programs, as well as providing 10,000 advisors and brokers with technology solutions to invest their own clients’ money. Privately held for nearly 70 years, Fidelity employs 41,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit www.fidelity.com.