Prudential to launch new managed advice platform, powered by NextCapital
Advice and Income Engines at Prudential will help plan sponsors and their advisors personalize retirement advice1 to better prepare participants for futures they can count on.
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Advice and Income Engines provides defined contribution plan participants with access to retirement planning and personalized portfolio management, designed to help them generate a source of income for retirement. The service is expected to go live in the first quarter of 2021, with several key features that will follow its launch.
“More than 100 million Americans rely on a defined contribution plan as the foundation for a secure retirement,” said
“We are excited Prudential has selected NextCapital’s managed advice platform to help power personalized advice and retirement planning to its 3.2 million retirement savers through their workplace retirement plans,” said
About Prudential Retirement
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and nonqualified deferred compensation record keeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.7 million participants and annuitants. Prudential Retirement has
NextCapital is the leader in enterprise digital advice whose mission is to help everyone retire successfully. NextCapital partners with financial institutions to deliver personalized planning and managed accounts to individual investors across multiple channels, including 401(k), 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.
“NextCapital” is a brand name representing
1 Provided by the plan’s designated registered investment adviser.