Retirement plan advisor Resources Investment Advisors and enterprise digital advice company NextCapital today announced they have partnered to deliver personalized advice solutions across three new defined contribution (DC) recordkeepers.
NextCapital’s Managed Advice for Advisors program is designed to enable plan advisors, like those at Resources, to deliver integrated personalized retirement planning and portfolio management services to participants across multiple recordkeeping platforms.
The program allows advisors to bring to market a scalable, turnkey managed advice solution that can be further configured to reflect their brand, advisory role(s), methodology inputs, and recordkeeping relationship requirements.
Through its partnership with NextCapital, Overland Park, Kansas-based Resources continues to expand its proprietary advice solution, Personalized Portfolios, across multiple recordkeeping platforms. To date, Resources has launched the solution with NextCapital at two recordkeepers, with a third to soon follow.
Resources Investment Advisors is an SEC-registered investment advisory firm and wholly owned subsidiary of OneDigital, which is focused on offering a holistic benefits experience for employees to help employers build an exceptional workforce.
Notably, Resources, in conjunction with NextCapital, successfully completed a $400 million bulk conversion into the Personalized Portfolios program in March.
“We are very excited to partner with a digital advice leader like NextCapital to bring Personalized Portfolios to multiple new recordkeepers,” said Vince Morris, President of Resources. “We are confident that by leveraging NextCapital’s state-of-the-art technology platform and recordkeeper integrations to deploy our advice, this solution will bring participants the peace of mind that comes with a well-planned retirement.”
Chicago-based NextCapital partners with financial institutions to deliver personalized planning and managed accounts to individual investors across multiple channels, including 401k, IRA, and taxable brokerage accounts. NextCapital’s open-architecture digital advice solution provides integrated account aggregation, analytics, planning and portfolio management, and allows partners to customize advice methodology and fiduciary roles.
“We are thrilled to partner with Resources to help them more scalably deliver personalized retirement advice to their plan participants,” NextCapital Co-founder and CEO John Patterson said. “With over 90% of all plan sponsors working with an advisor, it is clear how critical they are to the retirement ecosystem and to helping participants achieve successful outcomes in retirement.”
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.