Human Interest today announced the launch of PartnerConnect, a platform aimed at helping advisors create, manage, and monitor their clients’ 401(k) accounts and investments.
The platform, targeted to retirement plan advisors and wealth advisors, allows advisors the ability to view and manage clients on one platform, and integrates plan design, proposal management, fund lineup, and participant data.
To build the PartnerConnect platform, Human Interest says it invested over 50,000 hours in product and engineering over the last year, in direct consultation with financial advisors.
“Advisors are on the front lines of the effort to help investors and businesses navigate our challenging retirement system – and their partnership is crucial to Human Interest’s mission to deliver retirement plans for people from all lines of work,” said Rakesh Mahajan, chief revenue officer at Human Interest. “That’s why we designed PartnerConnect with advisors at the heart of the experience.”
Advisors can request and review proposals online and onboard new clients directly on the platform. They can also adjust funds or create lineup templates for replication across multiple plans or initiate a fund swap in just a few clicks. Lastly, its ParticipantIQ feature focuses on participant life events, including retirement, termination, and salary increase, and identifies new participant engagement opportunities.
The tool comes as more advisors look for features that offer automation and ease of usage. In speaking about PartnerConnect, Bob Darrow, president at Strive Retirement, says, “Most platforms make it too complicated to support our clients and grow our book of business. This platform is comprehensive and easy to use and will allow us to scale up our service model, delivering even more value to our clients.”
Noel Dulac, managing partner of Retirement Fiduciary Group, LLC, added, “Setting up new plans takes a fair amount of time and several manual processes, including sending emails and documents back and forth. A platform that could automate this process will help me spend less time on administrative work and more time focused on my clients.”
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.