Future Capital and Wealth Advisory TLG Partner On 401(k) Investment Management

Future Capital, which integrates a financial advisers client portfolio with existing 401(k) assets, has penned a partnership to provide its offerings to registered investment advisory TLG Advisors, according to a Tuesday announcement.

TLG, which manages $1.6 billion in client assets, will have access to Future Capital’s customizable 401(k) managed account options to provide more personalized advice within defined contribution saving plans. It will also gain access to so-called held-away 401(k) assets that clients may otherwise be managing through their workplace plan, a service that Future Capital CEO Jay Jumper says is heightening as wealth managers look to manage clients’ full portfolio, including 401(k) plans.

“The retirement and wealth convergence is real,” Jumper says in regard to the firm’s latest deal. “With partnerships like this, we are equipping advisers with the data, insights, and tools to create new growth opportunities.”

Future Capital’s services will be rolled out to TLG’s more than 260 advisers in the coming weeks, according to the announcement. Their managed account solution, has a monthly fee that ranges from $9 to $409 depending on the size of the account, according to the firm’s Form ADV regulatory filing.

“Our mission has always been to stand alongside our advisers, ensuring they have the resources, support, and freedom to serve their clients best,” Benjamin Tiller, director of advisory services at TLG Advisors, said in a statement. “Partnering with Future Capital means bringing another robust, tech-forward solution to our advisers, enhancing their ability to manage assets both in- and out-of-plan.”

Insurance and employee benefit aggregators have been acquiring RIAs for years as they seek to offer retirement plan solutions and personal wealth management services under one roof. More recently, predominantly wealth management firms have been acquiring retirement plan solutions and advisory services as well. Notable recent deals have included Carson Group’s acquisition of Northwest Capital Management, Savant Wealth Management adding Capital Direction, and Merit Financial Advisors acquiring Allegiance Retirement Solutions Inc.

The Future Capital relationship is set to help TLG’s advisers compete and win clients who are shifting to a retirement focus in their investing and planning, according to Jumper.

Currently, much of the retirement plan participant data and connections sit with retirement plan providers, according to Jumper, which limits the ability for financial advisers to manage retirement plan assets with other investments.

“Right now, the adviser doesn’t have the data,” Jumper says. “We are an extension of the adviser, and we want to be able to get as many data points as we can, and the only way you are going to get that is with engagement with the participant, or the investor.”

In a separate announcement earlier this week, Pontera, a financial technology firm that also syncs financial advisers with clients’ retirement savings accounts, made a deal with Summit Financial LLC, an RIA overseeing $9 billion in client assets. That announcement added to recent partnerships Pontera has signed with SageView Advisory Group and Founders Financial Securities LLC.

Future Capital, which is based in Chattanooga, Tennessee, rebranded from ProNvest Inc. earlier this year.