Black Knight Inc., Jacksonville, Fla., hired Fidelity Investments as record keeper of its 401(k) plan.
The plan moved to Fidelity as record keeper effective July 1, 2020, spokesman Mitch Cohen confirmed in an email.
Fidelity replaced Wells Fargo. The latter’s record-keeping business had been purchased by Principal Financial Group in 2019. Mr. Cohen said the company went through an RFP process following the announcement of Principal’s acquisition of that business and Principal was considered in that process. He said Fidelity was chosen because of the firm’s experience with larger clients and because Fidelity already manages the company’s employee stock purchase plan.
As of Dec. 31, the Black Knight 401(k) Profit Sharing Plan had $532 million in assets, according to the company’s 11-K filing with the SEC on June 29.