John Hancock Retirement Plan Services to Offer Morningstar's HelloWallet Financial Wellness Tool to Plan Participants on its Total Retirement Solution Platform
Jul 30, 2015, 11:00 ET
BOSTON, July 30, 2015 /PRNewswire/ -- John Hancock Retirement Plan Services, one of the largest providers of retirement plans in the United States, announced it will now offer Morningstar, Inc.'s HelloWallet financial wellness tool to plan sponsors on its Total Retirement Solution platform for use by their plan participants. Morningstar, Inc. is a leading provider of independent investment research.
HelloWallet is a web-based and mobile application that helps people manage their finances, seamlessly integrating financial information and making it easy to create budgets, analyze spending and savings trends, and track progress toward goals. The technology engine uses findings from behavioral finance and industry experts to help guide people toward making smart financial choices in easy and incremental steps. Plan sponsors can elect to offer HelloWallet to their participants starting in the fourth quarter of 2015.
"Our proprietary research proves that financial stress is a major factor in many people's lives, and retirement is almost an irrelevant topic if people have too much debt and not enough savings," said Patrick Murphy, president of John Hancock Retirement Plan Services. "By offering HelloWallet, we're helping people figure out how to alleviate their immediate financial stresses and enable them to save for a comfortable retirement."
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 15 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had more than $179 billion in assets under advisement and management as of March 31, 2015. The company has operations in 27 countries. Morningstar, Inc. acquired HelloWallet Holdings, Inc. in 2014. HelloWallet, LLC, a subsidiary of HelloWallet Holdings, is the provider of the HelloWallet software tool noted within this press release.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management by Manulife and its subsidiaries were C$821 billion (US$648 billion) as at March 31, 2015. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSA, and under '945' on the SEHK. Manulife can be found on the Internet at Manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
John Hancock Life Insurance Company (U.S.A.), John Hancock Life Insurance Company of New York and John Hancock Retirement Plan Services, LLC are collectively referred to as "John Hancock".
John Hancock Retirement Plan Services, LLC offers service programs for retirement plans through which a sponsor or administrator of a plan may invest in mutual funds, ETFs, guaranteed products and collective investment trusts on behalf of plan participants. John Hancock Trust Company, LLC provides trust and custodial services to such plans. Securities products, when offered, may be offered through John Hancock Distributors LLC or NYLIFE Distributors LLC, as applicable, member FINRA/SIPC. Retirement plan sponsors may be able to select the option to offer the On Target investment advisory program to participants; services relating to this program are detailed in the applicable investment advisory agreement. Mutual funds, ETFs, guaranteed products and collective investment trusts available on the respective investment platform have not been individually selected by John Hancock Retirement Plan Services LLC, or any of its service providers.
Both John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York do business under certain instances using the John Hancock Retirement Plan Services name. Group annuity contracts are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02210 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. The Investment Management Services Division of John Hancock provides investment information relating to the group annuity contract.
Plan administrative services may be provided by John Hancock Retirement Plan Services, LLC or a plan consultant selected by the Plan.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT INSURED BY ANY GOVERNMENT AGENCY
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SOURCE John Hancock Retirement Plan Services
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