PGIM RetireWell Managed Accounts will soon be available to the growing list of iJoin-enabled recordkeepers through its Managed Account Program (MAP) marketplace, the two companies announced today.
The integration is meant to leverage the power of the PGIM RetireWell Advice Engine in combination with iJoin’s goals-based user experience, portfolio allocation technology, and a plan advisor’s investment lineup to enable a more holistic retirement planning journey for plan participants.
“The PGIM RetireWell Managed Accounts were created to solve for the retirement challenge that American workers face today—transforming savings into adequate, sustainable retirement income,” said Michael Miller, Head of PGIM DC Solutions.
Configurable as a plan’s Qualified Default Investment Alternative (QDIA) or via opt-in, PGIM RetireWell Managed Accounts incorporate proprietary methodology and patent-pending technology to create a personalized retirement strategy based on each participant’s unique data, preferences and goals. Leveraging iJoin’s “sophisticated yet intuitive user experience,” according to today’s press release, the PGIM RetireWell Managed Account invites investors to fine-tune their income goal by expressing risk tolerance preferences as well as considering health-related priorities.
“We admire the significant investment the PGIM team has made in developing an advisor-led managed account experience that more holistically factors an individual’s unique and changing circumstances,” said Steve McCoy, CEO of Scottsdale, Ariz.-based registered investment advisor and tech innovator iJoin. “Together, we’re able to present a highly differentiated user experience that addresses underlying complexities while remaining intuitive.”
Since 2020, iJoin has integrated its data-driven, goals-based participant experience with leading providers of managed account programs, in-plan income, and IRA rollover solutions. Available through a growing number of retirement plan recordkeepers, financial advisors now have unparalleled product choice with which to make informed recommendations based on plan and participant suitability.
The PGIM RetireWell Managed Accounts are part of PGIM RetireWell Solutions, a suite of tools and products developed to help defined contribution plan participants achieve better retirement outcomes through holistic advice and guidance.
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