John Hancock Extends Reach via Morgan Stanley Agreement

John Hancock Retirement Plan Services (RPS) has increased the number of advisers able to offer services to 401(k) plans through a new distribution agreement reached with Morgan Stanley.

According to a John Hancock RPS announcement, under this new agreement, 8,500 financial representatives from Morgan Stanley will now be able to offer 401(k) plans including John Hancock’s JH Signature line and defined contribution plans with the Guaranteed Income for Life feature (see Hancock Puts Out 401(k) Guaranteed Income Rider).

“This partnership is a win-win, for John Hancock and Morgan Stanley. We’ve now got more reach, and they’ve got access to a top product. But it’s the business owners who benefit the most—they’ll get both a great retirement plan for themselves and their employees and an excellent team looking after their needs,” said Art Creel, executive vice president, Sales & Marketing, John Hancock RPS, in the announcement.