HighTower Partners with Envestnet | Retirement Solutions

HighTower is expanding its technology platform through a partnership with Envestnet | Retirement Solutions.

HighTower has joined forces with Envestnet | Retirement Solutions (ERS) to provide a retirement plan solution to advisers as they work to meet clients’ needs. With the integration of ERS to its technology platform, HighTower advisers can expand client relationships through ERS’s integrated practice management and fiduciary services platform. 

HighTower provides advisers access to wealth management solutions through its research division, Global Investment Solutions (GIS). The division performs research and due diligence for the custodial and third-party platforms HighTower offers to advisers. ERS provides a retirement platform addressing the regulatory, technology, data, and investment requirements of retirement plans, while delivering solutions to plan participants, sponsors, and institutions.

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“ERS empowers advisers with scalable, customizable technology that integrates fiduciary services and managed accounts to help enhance the outcomes for both plans and participants,” says Babu Sivadasan, group president, ERS. “Our partnership with HighTower aligns two leading firms with a shared commitment to delivering fiduciary support for the advisor/client relationship with best-in-class products and services.”

Legg Mason Rolls Out Target-Date CIFs

In partnership with Hand Benefits & Trust Company, Legg Mason introduced 401(k) Roadmap Funds, a series of nine target-date collective investment funds (CIFs).

The Roadmap Funds were designed to be successor funds to QS Legg Mason Target-Date Retirement Funds, a series of target-date mutual funds that closed on November 14. The new funds will utilize investment strategies and processes similar to those in shuttered funds, including similar asset-allocation glide paths and dynamic risk management.

The Roadmap Funds are funds-of-funds and will invest in a combination of underlying funds representing a variety of broad asset classes such as equity, fixed income and inflation-hedging strategies. The Roadmap Funds’ glide path is designed to adjust over time to become more conservative by increasing allocations to fixed-income securities as investors near retirement and to effectively balance market risk against longevity risk.

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More information on the funds is available on Legg Mason’s site.

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