How are the assets of a SEP managed?
Assets in a simplified employee pension (SEP) plan are managed by a financial institution rather than by individual trustees. However, employees may be permitted to direct the investments made in their own account. The SEP itself must be established with an insurance company, a bank, a brokerage firm, an independent trustee, or a mutual fund company. Many of these companies have advisors who can help employees make their investment choices.
