Advisors can View Real-Time Plan & Participant Data from PCS within Envestnet Wealth Management Platform
PCS Retirement, a leading provider of retirement plan recordkeeping services, announced the rollout of the ManagedPlan turnkey solution for retirement plan sponsors and their financial advisors, developed and run in partnership with Envestnet Retirement Solutions (ERS). This solution will initially be launched by a large broker-dealer client of Envestnet, with the goal of making it available to other Envestnet enterprise clients.
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Through ManagedPlan, the PCS Retirement recordkeeping platform will be fully integrated with Envestnet’s Wealth Management Platform. PCS will handle recordkeeping and administrative services at the plan level, and for individual participant accounts. In addition, advisors can log into PCS’s Advisor Lab 401(k) ToolkitSMÂ via a single sign-on from Envestnet to create proposals for new plans.
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“The Setting Every Community Up for Retirement Enhancement (SECURE) Act provisions have made it much easier, and less expensive, for small businesses to offer retirement savings plans for their employees through open, multiple employer plans. With the path cleared for more small businesses to sponsor employee retirement savings plans, our industry needs a solution that can make professional wealth management accessible and affordable for retirement plan participants—while also mitigating fiduciary risk for the sponsors,” said Mark Klein, CEO of PCS Retirement. “The pooling of experience, innovation, and service from ERS and PCS through ManagedPlan disrupts the status quo and creates a powerful tool for advisors to bring a new level of value to plan sponsors and participants alike.”
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