BISYS has announced that it will service the 401(k) plans previously serviced by The Benefit National Companies (BNC), a Colorado-based third-party administrator of 401(k) retirement plans, and will subsequently assume the recordkeeping responsibilities for approximately 1,700 clients of AIM Investments. BISYS also will support AIM Investments’ ongoing sales initiatives for the new small plan retirement product that is being sold through its broker-dealer relationships.
“BISYS will support our existing and future small 401(k) plans with its industry-leading, high quality retirement plan recordkeeping and administrative services,” said Terry Kelly, vice president and national sales manager of advisor sold retirement business for AIM Investments. We believe BISYS’ innovative platform includes the tools and resources our clients need to continue aggressively competing in today’s dynamic retirement marketplace. We also believe BISYS’ servicing solution will enhance our retirement product, and help support the near- and long-term growth goals for our retirement business.”
According to Christopher Guarino, president of BISYS Retirement Services, “We are excited about the opportunity to work with AIM Investments, which represents one of the industry’s leading financial services firms, and to support its existing small retirement plan clients and the new clients earned through its ongoing sales initiatives. We believe our comprehensive, technology-driven 401(k) platform, our industry expertise, and our exacting service standards are ideally matched with the strategic business goals of AIM Investments and its clients, and we look forward to a long and mutually rewarding relationship.”
AIM is a Houston-based investment management company. Founded in 1976, AIM Investments has $147 billion in assets under management and approximately 11 million shareholders.
BISYS is an independent administrator and recordkeeper for small and mid-size retirement plans. The BISYS Group, Inc., headquartered in New York City, provides business process outsourcing solutions to firms, insurance companies, and banks.