How SDBAs can help your financially savvy employees take control of their retirement

Meeting the growing demand for investment choice

Today’s workforce is more financially savvy than ever before. Many employees actively manage their personal investments, work with financial advisors, and seek sophisticated investment strategies. Yet when it comes to their workplace retirement accounts, these same individuals often find themselves limited to a preset menu of investment options.

This disconnect can create frustration for experienced investors and potentially impact your retirement plan’s ability to attract and retain top talent. The question facing many plan sponsors in 2026 is clear: How do you balance fiduciary responsibility with participant demand for greater investment control?

The answer may lie in Self-Directed Brokerage Accounts (SDBAs).

What are Self-Directed Brokerage Accounts (SDBAs)?

A Self-Directed Brokerage Account (SDBA) is an in-plan investment option that allows eligible retirement plan participants to access a broader universe of investments beyond the plan’s core lineup. Think of it as a bridge between your traditional 401(k) menu and the full investment marketplace.

With an SDBA, participants can allocate a portion of their retirement contributions to:

• Individual stocks
• Corporate and municipal bonds
• Mutual funds outside the plan’s standard offerings
• Exchange-traded funds (ETFs)
• Other qualifying investment vehicles (subject to plan provisions)

Key point for plan sponsors: SDBAs don’t replace your core investment lineup — they complement it. Most participants will continue using your carefully curated default options, while sophisticated investors gain the flexibility they desire.

Introducing Voya Flex Self-Directed Brokerage Accounts: A new standard for investment flexibility

This summer, Voya is adding to our existing menu of SDBAs by launching Voya Flex Self-Directed Brokerage Accounts — a next-generation SDBA solution designed specifically to meet the needs of modern plan sponsors and their diverse participant populations.

Why Voya Flex SDBA stands out

Seamless integration with personal financial planning

The most significant differentiator of Voya Flex is its unique approach to participant choice. Unlike traditional SDBAs that only allow participants to open accounts through a single designated firm, Voya Flex allows participants who work with a financial professional to open and manage their SDBA through that professional’s existing firm.

This creates a truly unified financial experience where:

• Participants maintain their trusted advisor relationships
• Workplace and personal retirement planning strategies align seamlessly
• Financial professionals gain comprehensive oversight of clients’ total financial picture
• Participants avoid duplicating accounts across multiple institutions

The Bottom Line: Participants get personalized guidance without sacrificing the convenience of their existing advisory relationships.

In 2026 and beyond, successful retirement plans will balance simplicity with sophistication — offering streamlined, appropriate defaults for most participants while providing experienced investors the flexibility they seek. 

Voya Flex Self-Directed Brokerage Accounts deliver this balance through innovative technology, seamless advisor integration, and access to a comprehensive investment universe. For plan sponsors looking to strengthen their retirement programs and meet the evolving needs of a diverse workforce, Voya Flex SDBA represents a powerful new tool for participant engagement and satisfaction.

For more information about Voya Flex Self-Directed Brokerage Accounts, contact your Voya representative or connect with us.