Advice and Income Engines at Prudential will help plan sponsors and their advisors personalize retirement advice1 to better prepare participants for futures they can count on.
Prudential Retirement, a business unit of Prudential Financial, Inc., has unveiled Advice and Income Engines at Prudential, a next-generation digital managed advice platform, powered by NextCapital.
“We are excited Prudential has selected NextCapital’s managed advice platform to help power personalized advice and retirement planning to its 3.2 million retirement savers through their workplace retirement plans”
Advice and Income Engines provides defined contribution plan participants with access to retirement planning and personalized portfolio management, designed to help them generate a source of income for retirement. The service is expected to go live in the first quarter of 2021, with several key features that will follow its launch.
“More than 100 million Americans rely on a defined contribution plan as the foundation for a secure retirement,” said Harry Dalessio, head of institutional retirement plan services at Prudential Retirement. “Incorporating a managed advice solution that supports understanding of income needs in retirement is especially critical during times of market volatility. Additionally, many Americans are unsure about investing and retirement decisions and prefer the convenience of getting professional financial advice through their trusted employer-sponsored defined contribution plan.”
“We are excited Prudential has selected NextCapital’s managed advice platform to help power personalized advice and retirement planning to its 3.2 million retirement savers through their workplace retirement plans,” said Rob Foregger, executive vice president and co-founder of NextCapital. “Prudential is in a unique position to help shape the future of the $8 trillion defined contribution market, which is increasingly focused on meeting consumer demand for more customization through large-scale technological innovation.”
