For more stories like this, sign up for the PLANADVISERdash daily newsletter.
RPA Expands Managed Account Partnerships
Retirement Plan Advisors LLC has announced a new partnership with Stadion Money Management and EPIC Retirement Plan Services as part of its continuing effort to expand its managed account platform, PortfolioPlus.
The partnership brings RPA’s proprietary manager due diligence and portfolio construction process and Stadion’s participant-level personalization to EPIC’s national recordkeeping platform.
According to a company press release, an adviser managed account program provides customized investment solutions to retirement plan participants. This new offering combines RPA’s portfolio construction experience with Stadion’s proprietary methodology to provide personalized investment solutions for working Americans. As participants approach retirement, their unique circumstances and ever-evolving needs affect their optimal investment strategy and allocation.
“Target-date funds are great for younger employees—who should invest largely in equities and ride out the ups and downs. But they don’t work nearly as well for people at or near retirement,” says Josh Schwartz, RPA president. “Retired and retiring Americans have vastly different circumstances, and their investment portfolios need to reflect that. Financial markets are volatile and uncertain, and behavioral science demonstrates that investors don’t manage their assets well on their own. Investors are asking for help, and we are providing it through our managed account solution.”
Truist Wealth Expands Its Digital Investing Capabilities
Truist Wealth has expanded its digital investment offerings with Truist Invest, a robo-adviser solution, and Truist Invest Pro, a hybrid investing solution that combines automated investing with access to a team of financial advisers.
Joseph Thompson, chief wealth officer at Truist, says the new solutions provide simple and secure access to a portfolio that is built to help investors achieve their goals.
Truist Invest helps clients identify their goals, risk tolerance and existing investments to create a tailored portfolio recommendation. Once an account is opened, clients receive a daily portfolio analysis which drives opportunities for automated rebalancing and tax-loss harvesting. Clients can also make changes to their preferences on demand to adapt to their changing financial situation.
Truist Invest Pro is a hybrid investment solution that combines the digital capabilities of Truist Invest with advice from a team of financial advisers who can help clients build a personalized portfolio.
A Truist Invest or Truist Invest Pro account can be opened online with a minimum of $5,000. Clients can access their account details and activity in Truist online banking and the mobile app and contact support teams as needed. Annual fees are 0.50% for Truist Invest and 0.85% for Truist Invest Pro, calculated based on the assets under management, with a $90 per account annual minimum.
« District Court Rejects Cross-Selling Claims in Mixed ERISA Ruling