NextCapital and John Hancock Retirement Plan Services are announcing a multi-channel partnership that will expand automated retirement advice offerings.
The firms tell PLANADVISER the new Department of Labor (DOL) fiduciary rule has accelerated demand for scalable retirement advice that is efficient to deliver but still highly responsive across both the 401(k) and individual retirement account (IRA) rollover businesses.
“The NextCapital-John Hancock relationship continues our commitment to deliver holistic digital retirement advice,” says Peter Gordon, CEO of John Hancock Retirement Plan Services. “We selected NextCapital as a technology partner because it has the ability to help us expand how we provide the next generation of high quality, non-conflicted, personal advice.”
Via the partnership, NextCapital provides institutions with an integrated, end-to-end platform for delivering and administering automated financial advice to investors, including portfolio tracking, planning, savings advice, and portfolio management. Both firms suggest digital advice is “strategically key for firms seeking to scalably implement the new DOL Fiduciary Rule requirements.”
NextCapital enables institutional partners to bring to market a “full-stack digital advice solution” that is specifically built to support the demanding configuration requirements of large institutions. Features include custom user experience and ongoing engagement; proprietary or third-party investment methodology; self-service and adviser-assisted service models; multi-channel support across 401(k), IRA, and retail brokerage accounts; and integrations with 401(k) recordkeeping systems and retail custodians.
More information is available at www.johnhancock.com.