FOUNDED IN 1995 by its current President and CEO, Tommy Thomasson, DailyAccess Corporation is a leading independent, national TPA and record keeper.  A pioneer in using technology to help experienced advisors grow their businesses, their model has become more popular as advisors look for unlimited investment choice, transparent fees, and reasonably priced plans, as well as personal assistance. As a former broker and advisor, Thomasson sought to make life easier for retirement advisors and to create a business model that he saw coming before it happened. 

Today DailyAccess has selling agreements with 50 fund families through the NSCC and another 300 fund families through their relationship with Fidelity’s trading platform.  DailyAccess has almost 1,000 DC plans under management, and $4.5 billion in assets with 120,000 participants.  Their plan growth is a healthy 15% annually in a market that is experiencing less than 5% turnover.  To service their growing number of advisor partners, they currently have ten wholesalers spread throughout the country who are matched with internal sales staff at their home office.  DailyAccess services the entire advisor market, ranging from RIAs working with smaller plans who want open architecture to plans over $60 million in assets .

Because their clients are asking for more actuarial and plan design services, DailyAccess plans to grow through acquisition of regional TPAs who wish to exit the recordkeeping business but maintain their consulting practice.  Among their differentiators, DailyAccess lists more sophisticated fee disclosure, completely automated processing, RIA support, open architecture, one-on-one dedicated client service account executives and support of advisor-created glide paths.  As Chairman of the newly formed ASPPA affiliated group – the Council of Independent 401(k) Record Keepers – Mr. Thomasson is on the forefront of fee disclosure and transparency, testifying recently before Congress.

For advisors, especially RIAs, searching for a national record keeper with an open menu of investments and capable of supporting their business at a reasonable price, DailyAccess is an excellent choice.  Based on healthy growth and a strong management team, DailyAccess should prove to be a good partner.

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