Voya Financial’s wealth management firm, Voya Financial Advisors, is teaming up with RPAG, a 401(k) business management platform, to offer Voya’s network of 2,600 advisers an opportunity to grow their business.
RPAG will offer Voya wealth advisers a support team and educational tools about 401(k)s, including sales and marketing support, fee benchmarking, plan design and quotes, participant engagement, financial wellness programs, fund monitoring and plan sponsor fiduciary education.
Citing industry research, Voya says that in 2016, approximately 70% of 401(k) plans worked with an adviser to assist with investment selection and participant education.
“We continue to make significant investments in resources and technologies that will help our advisers meet the needs of clients,” says Tom Halloran, president of Voya Financial Advisors. “This includes providing new opportunities to grow and adapt their business. In today’s dynamic environment, advisers must always be thinking about how to evolve their practice to support the changing landscape. We want to become one of the easiest wealth management firms for our advisers to do business with, and this new solution is just one example of the value we can deliver.”