Fidelity Investments recently overhauled its Fidelity Advisor 401(k) platform–a move the company believes constitutes the most thorough revision of the program since its inception.

Fidelity has eliminated the Advisor 401(k) platform’s proprietary fund requirement and is providing greater flexibility for advisors when their plan sponsor clients select investment options for their plan. While advisors will continue to have access to Fidelity Advisor funds and hundreds of third-party funds, they now will be able to offer any combination of these funds, the company said.

Fidelity has also consolidated its two Fidelity Advisor 401(k) offerings–the Premium (plans with 100 participants or greater) and Premium 100 (plans with less than 100 participants)–into a single product offering, in order to allow for greater plan design flexibility and provide smaller plans (regardless of the number of participants or plan assets) access to more services and features, such as expanded contribution periods for a match and/or profit sharing contribution.

Fidelity Advisor 401(k) has also moved away from a standard pricing schedule to a custom pricing model, where price is determined by individual plan parameters that could include plan size, number of participants, number of eligible participants, plan services and features selected, and the selection of investment options.