Ameriprise Financial Inc., Minneapolis, hired Alight Solutions as record keeper of its 401(k) plan, said John Brine, company spokesman, in an email.
The change will take effect Oct. 4, and a blackout period for participants will begin Sept. 27 and is expected to end Oct. 10, according to an 8-K filing with the Securities and Exchange Commission on Tuesday. The current record keeper is Wells Fargo.
"We believe Alight Solutions will provide good value and solutions for our plan participants," Mr. Brine said.
As of Dec. 31, 2016, the Ameriprise Financial 401(k) Plan had $1.7 billion, according to the company's most recent 11-K filing.