Recap: John Hancock Retirement Plan Services will integrate NextCapital’s digital 401(k) platform and begin offering its automated retirement plans and IRA rollovers over the next 12 months. DOL-motivated as robo-advisory is expected to play a key role for advice in best interest of clients.
NextCapital’s robo-platform allows retirement plan participants to have portfolio tracking, planning, savings advice and portfolio management online. The financial advice will be automated, but live help will be available to service the accounts, said Peter Gordon, chief executive of John Hancock Retirement Plan Services, which is part of John Hancock Financial, a division of Manulife Financial Corp.
- Custom user experience and ongoing engagement
- Proprietary or third-party investment methodology
- Self-service and advisor-assisted service models
- Multi-channel supporting 401(k), IRA, and retail brokerage accounts
- Integrations with 401(k) recordkeeping systems and retail custodians