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NextCapital gets managed-accounts deal with Prudential
Prudential Retirement plans to launch the service, Advice and Income Engines, sometime during the first quarter of 2021. It will provide retirement planning and personalized portfolio management to Prudential’s defined-contribution plan participants.
February 2, 2021 2 MINS
NextCapital inked a deal with Prudential, the companies announced today, marking the 10th retirement services company for which the fintech firm provides managed accounts.
Prudential Retirement plans to launch the service, Advice and Income Engines, sometime during the first quarter of 2021. It will provide retirement planning and personalized portfolio management to Prudential’s defined-contribution plan participants, the company stated in the announcement.
Franklin Templeton’s managed account product could be future for DCIOs
Managed accounts offer DCIOs the opportunity to be a more active and important part of the DC ecosystem. It moves them from being dependent on record keepers, advisers and plan sponsors to create the strategy to help participants, to being an advice provider of customized investment solutions.
February 3, 2021 3 MINS
The recent announcement of Franklin Templeton’s Goals Optimization Engine, initially in partnership with Vestwell, may mark the next evolution for defined-contribution investment-only providers searching for a new role and identity in the DC world.
The role of mutual funds in the DC market has evolved. In the 1990s, they were dominant, and providers’ relationships with advisers helped get products into smaller and midsize plans. Now fund providers have to curry favor with the record keepers, advisers, broker-dealers and aggregators that control plan sales. Add the mov
Vestwell, Franklin Templeton Partner To Bring New Tech to 401(k)s Relying on a mix of APIs, special methodology and a tech-forward attitude, Vestwell and Franklin Templeton aim to give advisors more control over managed retirement accounts.
Vestwell, through a partnership with Franklin Templeton, is expanding its own platform to provide a managed retirement account solution. The new features, to be completed and deployed by mid-year, are being designed to give better investment customization to end-clients, as well as allow certain advisors to run managed retirement accounts with more scale.
Already partially developed, Vestwell will continue building a managed account user interface for small-to-mid sized businesses and the retirement plan providers and advisors that service them, in addition to its usual intermediary work of recordkeeping, said Joshua Forstater, SVP of strategic partnerships at Vestwell. Vestwell will “natively” integrate Franklin Templeton s Goals O
Vestwell adding first managed account option to its 401(k) business
The managed-account service will stand out in the marketplace because it will be embedded in Vestwell’s technology, rather than located away from a record keeper and within an investment manager’s system, a detail that will help the firm compete on cost
January 6, 2021 2 MINS
Vestwell is preparing the first managed-account option for its digital 401(k) record-keeping service, a product that uses Franklin Templeton’s Goals Optimization Engine, the companies announced Wednesday.
The forthcoming managed-account service, which is designed to be available as a default investment option, will compete aggressively on cost, Vestwell CEO Aaron Schumm said.