Transamerica has formed a partnership with Edward Jones
whereby Transamerica’s retirement solutions will be sold by Edward Jones
advisers.
Transamerica Retirement Solutions Corporation
serves more than 3 million participants, and Edward Jones serves nearly
7 million clients and has nearly 14,000 financial advisers across the
nation.
“We are honored to be included as one of the retirement plan product offerings
available to Edward Jones financial advisers and their clients,” says Jason
Crane, executive vice president and managing director of retirement sales for
Transamerica Retirement Solutions. “Through our partnership, we have found that
our two organizations share a similar focus on helping more Americans save for
their long-term goals. There is an Edward Jones financial adviser in nearly
every community. We look forward to the opportunity to serve the corporate
retirement plan market with a well-respected financial services organization
like Edward Jones.”
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The new Institutional Intelligent Portfolios program from
Charles Schwab is designed specifically to help registered investment advisers
(RIAs) break into new market segments and scale up their businesses in an efficient way.
According to Schwab, the Institutional Intelligent
Portfolios offer RIA firms new flexibility around portfolio construction and
exchange-traded fund (ETF) selection. The service helps RIA firms create and deliver their
own branded set of portfolios to serve unique institutional clients, “reflecting their
investment philosophy and choosing from more than 450 ETFs across 28 asset
classes and all major fund families.”
Bernie Clark, executive vice president and head of Schwab
Advisor Services, suggests the new service is especially timely because many
advisory firms have identified automated solutions as a key opportunity in their
short- and mid-term growth strategies. “Personally, I am very excited to see
how entrepreneurial advisers use Institutional Intelligent Portfolios to expand
their reach and to scale some elements of their practice,” he adds.
Clark says advisers can use the service to build customized portfolio
strategies and account features—setting each portfolio’s asset
allocation and selecting the underlying ETFs to meet the needs of institutional clients. Advisers can also brand the
client experience with their firm’s logo and contact information.
Client service efficiency is also delivered through use of
investor profile questionnaires, which break down an individual client’s investing
goals and risk tolerance to map them into one of the adviser’s custom-designed
portfolios. Advisers then make a final review of the client’s profile and
portfolio assignment and adjust it if necessary before approving it, at which
time money can be invested. To ensure liquidity demands can be met, all
portfolios must maintain a minimum allocation of 4% in cash, Schwab explains.
Institutional Intelligent Portfolios accounts will be
displayed in the Schwab Advisor Center alongside the adviser’s other client
accounts. Data on Institutional Intelligent Portfolios accounts will be
available for download directly into portfolio management systems, and users of
Schwab OpenView Gateway also will be able to access real-time information on
these accounts through all participating third-party applications.