401GO does the record-keeping and administration for your 401(k) account, but is not the custodian. We partner with Broadridge Matrix Trust Company, and they hold the plan assets, which are then invested into the market. 401GO directs these trades through its platform.
401(k) accounts are some of the most secure accounts you can have. Matrix uses bank-level security and adhere to multiple industry standards to ensure the safety of assets. 401GO also maintains exceedingly high standards for data protection, including 3rd party penetration tests, extensive background checks of employees, secure password enforcement and more.
Additionally, plan sponsors are usually required to purchase a fidelity bond, which is an insurance policy that protects the funds in the case of fraud, theft, embezzlement or misappropriation.