J.P. Morgan Offers Financial Engines' Income+ to 401(k) Clients

Financial Engines' Income+ has been integrated into J.P. Morgan Retirement Plan Services’ 401(k) offering.   

Income+ is part of J.P. Morgan’s in-plan professionally managed account program, J.P. Morgan Personal Asset Manager, which works within a 401(k)’s existing investment line-up to enable more personalized portfolios to provide retirement income.

The program is designed to balance safety and growth in the years leading up to retirement. It provides monthly payouts from a 401(k) account, which can last for life with the optional purchase of an out-of-plan annuity.

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

“With the successful implementation of Income+ at J.P. Morgan, Income+ is now fully rolled out at three large plan providers, which serve nearly 25% of the large plan market,” explained Larry Raffone, executive vice president of distribution and institutional service at Financial Engines. “We are excited that demand for Income+ remains strong and will continue to make Income+ available to more participants throughout the year.”

 

ETF Assets Decreased $5B in April

Exchange-traded fund (ETF) assets dropped by $5.3 billion (0.4%) in April.

According to State Street Global Advisors’ ETF Snapshot report, 1,246 ETFS with $1.2 trillion in assets were managed by 36 ETF managers as of April 30.  

Investors added $2.9 billion to ETFs, as fixed-income ETFs attracted $4.9 billion—increasing year-to-date inflows to $20.5 billion.  After $5.9 billion in inflows last month, large-cap ETFs experienced $4.5 billion in outflows in April.  

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

The top three managers in the U.S. ETF marketplace were BlackRock, State Street and Vanguard. Collectively, they account for approximately 83% of the U.S.-listed ETF market.  

The top three ETFs in terms of dollar volume for the month were the SPDR S&P 500, iShares Russell 2000 and PowerShares QQQ.

 

«