Human Interest Launches Platform to Streamline 401(k) Management

Human Interest introduced PartnerConnect, a platform that will allow advisers to more efficiently create, manage and monitor clients’ 401(k) plans and investments—specifically viewing and managing multiple clients simultaneously.

The platform is designed to support both retirement plan advisers and wealth advisers and is “specifically designed to eliminate many of the burdensome, mundane administration tasks that advisers hate,” the company said in a statement.

Key elements of the platform, according to the company, are the ability to do things online that used to be manual, or require faxing of documents or multiple emails back and forth. It integrates plan design, proposal management, fund lineup, and participant data into a single solution. Highlighted features include:

• The ability to request and review proposals online and onboard new clients directly into the platform.
• A single view across all retirement plans in an adviser’s books of business through an integrated dashboard that eliminates the need for multiple login accounts.
• A tool called ParticipantIQ that supports identifying participant engagement opportunities and spotlight participant milestones (retirement, termination, salary increase, etc.).
• Access to more than 3,000 funds, with which advisers can easily adjust funds or create lineup templates for replication across multiple plans.
• Bulk fund mapping so advisers can select a single fund for multiple plan lineups at one time.

“Advisers are on the front lines of the effort to help investors and businesses navigate our challenging retirement system—and their partnership is crucial to Human Interest’s mission to deliver retirement plans for people from all lines of work,” said Rakesh Mahajan, Chief Revenue Officer at Human Interest, in a statement. “That’s why we designed PartnerConnect with advisers at the heart of the experience.”