In this week’s corporate roundup, Netchex announces the launch of its new Netchex 401(k), 401GO releases a mobile app, and Marsh McLennan acquires the Hudson Shore Group, an employee benefits broker.
Netchex Launches 401(k) Platform
Netchex is launching Netchex 401k, designed to streamline retirement savings administration for employers.
Powered by Vestwell, the retirement benefit is anticipated to ease the complex regulations and tasks associated with 401(k) administration, including the enrollment process and contribution calculations.
According to Netchex, the benefits of the platform include:
- Easy Setup: Streamlined process minimizes time and resources needed to set up and manage the plan.
- Fully Integrated: Easily manage corporate Match Policies, Safe Harbor, and Fund Vehicle Selections all while minimizing the downstream impacts of audits and fines and reducing administrative workload for HR teams.
- Manage in One Place: Manage your 401k plan alongside other HR functions within the Netchex platform, creating a unified user experience for both employers and employees.
- Employee Self-Service: Employees manage everything within the Netchex application available on the web and mobile.
“We are thrilled to unveil Netchex 401k in partnership with Vestwell, a solution specifically designed to remove the barriers that prevent businesses from offering a retirement savings benefit,” said Netchex CEO Will Boudreaux.
“There’s never been a better time for employers to implement or expand their benefits packages, said Aaron Schumm, CEO at Vestwell. “We’re proud to be the preferred partner behind Netchex’s 401k solution and offer a seamless, modern solution for businesses of all sizes.”
401GO Unveils Mobile App
401GO, a provider of retirement planning financial technologies, announced the release of its mobile app designed to meet the evolving needs of its users.
The app, available for both iOS and Android devices, allows users to manage their retirement plans from their smartphones and track contributions, monitor investment performance, and access important account information.
“This mobile app is a direct response to the feedback and requests from our partners and clients,” said CEO Dan Beck. “We understand the importance of convenience and real-time access to financial information, and we’re proud to deliver a solution that enhances participants’ ability to manage their retirement plans efficiently and effectively.”
Among other of its offerings include:
- Account Monitoring: The dashboard provides information on account balances, contributions, and deferral amounts.
- Investment Tracking: Monitor the performance of investments with detailed insights, select new funds or adjust balance ratios.
- Secure Access: Benefit from top-tier security features, including 2FA login and encryption, to safeguard personal information.
- Financial Wellness Resources:The app provides access to free tools designed to improve users’ day-to-day finances.
“Our team has delivered a product that is not only reliable but also especially user-friendly,” said CTO Nate Beck. “Thanks to insights gained through extensive testing, we’re confident our users will find the app to be the most intuitive of its kind. The level of effort put into that process is a reflection of our dedication to providing our customers the highest quality retirement planning resources.”
Marsh McLennan Acquires Employee Benefits Broker
Marsh McLennan Agency, a subsidiary of Marsh, announced its acquisition of the Hudson Shore Group, a public and private sector employee benefits broker based in Red Bank, New Jersey. Terms of the acquisition were not disclosed.
Founded in 2010, Hudson Shore Group specializes in public sector clients, providing employee benefits, consulting, and administrative services with a focus on large group and alternative-funded benefits programs. All Hudson Shore Group employees, including Derek Dailey, founder and CEO, will continue working out of their Red Bank, NJ, office.
Commenting on the acquisition, Jerry Alderman, CEO of Marsh McLennan Agency’s Northeast region, said: “The Hudson Shore Group team is known for developing and managing comprehensive employee benefits solutions that mitigate the rising costs of healthcare for local school districts and municipalities as well as for small and midsize businesses. Hudson Shore Group is a well-respected employee benefits broker that will further expand our employee health and benefits programs, making this the right decision for our clients and our team.”
“Joining Marsh McLennan Agency was the best decision we could make for Hudson Shore Group clients and employees,” said Dailey. “Our clients will benefit from a wider array of industry-leading specialists, services, and resources that will support their growing needs and provide measurable value, while our colleagues will see greater opportunities for growth and personal development.”
SEE ALSO:
- Corporate Roundup: Ascensus Names CMO, Savvy Introduces Latest Wealth Managers
- Corporate Roundup: ERISA Turns 50, T. Rowe Price Launches Framework
- Corporate Roundup: Nuveen Taps New CEO, Sharebuilder 401k Slashes Setup Fee
- 401GO Secures $12M in Series A Funding
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
