AssetMark Launches Small Retirement Plan Platform

AssetMark has launched a new small retirement plan solution for financial advisors. The company’s new business initiative is designed to help advisors bring the sophistication and customization of larger corporate retirement plans to smaller businesses.

“Advisors are always looking for ways to differentiate themselves, especially in today’s competitive market,” said Cathy Clauson, senior vice president of retirement solutions at AssetMark, in a press release. “With our new retirement offer, advisors will be able to expand their offering and drive business growth by building out an institutional-quality retirement practice.”

Unlike most small plan offerings, AssetMark will bundle record-keeping and plan administration with its platforms, allowing advisors and sponsors to create a workplace retirement plan offering with a single point of contact and negotiation, according to the company.

The new business line will allow small plans to access AssetMark’s curated lineup of institutional mutual funds and model portfolios, the company says. Smaller advisors and those who have not tested the defined contribution plan waters may also use AssetMark’s new offerings to take the plunge, said Natalie Wolfsen, AssetMark executive vice president and chief commercialization officer, in a statement.

“Our goal is to help advisors expand their service offering so that they can consult on their clients’ business and personal financial needs and become indispensable partners,” said Wolfsen.

By offering a solution for smaller plans, AssetMark hopes to create synergies to help advisors expand their business and bring more assets onto AssetMark’s $39 billion investing platform.

 

Automated Direct Mutual Fund Platform Introduced

Envision Financial Systems has launched FundKeeper, a mutual fund account servicing platform. Created in cooperation with U.S. Bancorp Fund Services, FundKeeper automates the process of opening direct accounts with mutual fund providers.

FundKeeper allows advisors to deliver the convenience of a brokerage account to their clients, with fewer of the related fees and expenses that come with such an account. By automating the direct purchase of mutual funds, the platform allows money to be invested faster.

The first users of FundKeeper are sister San Diego-based broker-dealers CUSO Financial Services and Sorrento Pacific Financial.

The platform is being implemented within the firms’ affiliated banks and credit unions.

 

eMoney Announces Turnkey Marketing Solution

eMoney Advisor announced Advisor Branded Marketing, a turnkey marketing solution for advisory firms.

Through Advisor Branded Marketing, users of eMoney’s software have access to targeted multimedia content campaigns, a content library featuring more than 2,000 separate items, social media sharing functionality and real-time analytics to track client engagement.

The solution allows advisors to position themselves as thought leaders with professionally designed marketing materials and leverage client data to launch targeted content. The tools will also help advisors establish a social media presence and connect with clients and prospects online.

 

Redtail Adds Compliant Text Messaging Tools

Redtail Technology rolled out Redtail Speak, a compliance-approved texting platform, in early October.

Redtail Speak allows advisors to offer their clients the ease and efficiency of communicating via text messaging while adhering to federal rules and regulations, including Finra’s recent notice requiring all text messaging conversations to be recorded.

Redtail Speak will be embedded into the Redtail CRM, allowing advisors to send messages directly from Redtail’s existing technology to their clients’ mobile numbers.

The platform is also customizable, allowing advisors to change settings for notifications, messages and invitations.

 

Vanguard Creates Behavioral Finance Inspired Client Portal

Vanguard is bringing cutting-edge behavioral finance theory to retirement plan tools.

The company announced a new plan participant web portal designed to give participants a clear snapshot of what their retirement will look like. Upon logging into their accounts, plan participants will be presented with their current account balances and a retirement readiness indicator.

Vanguard’s Retirement Readiness Tool uses analytics to measure progress toward retirement goals, like an estimate of future monthly income that may be generated from an account. The portal will recommend “next steps” based on the users’ projected retirement readiness, incorporating assumptions about savings, returns, Social Security and other client assets.

 

RobustWealth, XYPN And TD Launch TAMP For NextGen

Using technology from Lambertville, N.J.-based RobustWealth, the XY Planning Network has rolled out a TAMP for fee-only, next-generation advisors.

XY Investment Solutions is designed to provide a digital-first experience for advisors and their clients using a no-minimum model to serve young clients. Models on the platform will include low-cost passive ETFs, smart beta portfolios from Dimensional Fund Advisors and SRI offerings.

RobustWealth’s technology allows seamless client on-boarding, secure transactions and compliant data protection. XY Investment Solutions will also include a user-friendly portal to allow clients access to the platform.

XY Investment Solutions was developed in collaboration with TD Ameritrade.