OVERLAND PARK, Kan. and CHICAGO, May 11, 2021 /PRNewswire/ -- Leading retirement plan adviser Resources Investment Advisors - A OneDigital Company and enterprise digital advice company NextCapital have partnered to deliver personalized advice solutions across three new defined contribution recordkeepers.
NextCapital's Managed Advice for Advisors program is designed to enable plan advisers, like those at Resources, to deliver integrated personalized retirement planning and portfolio management services to participants across multiple recordkeeping platforms. The program allows advisors to bring to market a scalable, turnkey managed advice solution that can be further configured to reflect their brand, advisory role(s), methodology inputs, and recordkeeping relationship requirements.
Through its partnership with NextCapital, Resources continues to expand its proprietary advice solution, Personalized Portfolios, across multiple recordkeeping platforms. To date, Resources has launched the solution with NextCapital at two recordkeepers, with a third to soon follow.
Notably, Resources, in conjunction with NextCapital, successfully completed a $400 million bulk conversion into the Personalized Portfolios program in March.
"We are very excited to partner with a digital advice leader like NextCapital to bring Personalized Portfolios to multiple new recordkeepers," said Vince Morris, President of Resources. "We are confident that by leveraging NextCapital's state-of-the-art technology platform and recordkeeper integrations to deploy our advice, this solution will bring participants the peace of mind that comes with a well-planned retirement."
"We are thrilled to partner with Resources to help them more scalably deliver personalized retirement advice to their plan participants," said NextCapital Co-founder and CEO John Patterson. "With over 90% of all plan sponsors working with an advisor, it is clear how critical they are to the retirement ecosystem and to helping participants achieve successful outcomes in retirement."
About Resources Investment Advisors: Resources Investment Advisors ("Resources") is an SEC-registered investment advisory firm and wholly-owned subsidiary of OneDigital, which is focused on offering a holistic benefits experience for employees to help employers build an exceptional workforce. By offering retirement plan services, wealth management, and healthcare benefits consulting through an integrated approach, we can address each employee's overall wellbeing. Resources reported $64.8 billion in total assets under advisement in 2020 and currently works with approximately 5,000 retirement plans, 800,000 plan participants, 12,500 individual wealth management accounts. Expanded strategic benefit advisory services include: retirement plan services, wealth management, analytics, compliance support, human resources management tools, and comprehensive insurance offerings.
About NextCapital Group: NextCapital is an enterprise digital advice company 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.