Note from the Publisher: On 1/10, NextCapital released an announcement that John Hancock has reached an agreement to offer its retirement service advice across their 401(k) and IRA rollover business. However, this is not the first foray into roboadvice for John Hancock. They are also partnered with Morningstar to provide their “Hellowallet financial wellness program” to their customer base as well. John Hancock understands the necessity to have a sound digital advice strategy in place moving forward, and is “in it to win it” with these smart strategic partnerships.
“NextCapital, the leader in enterprise digital advice, today announced a strategic partnership with John Hancock Retirement Plan Services to expand its automated retirement advice across its 401(k) and IRA rollover business.
“The NextCapital-John Hancock relationship continues our commitment to deliver holistic digital retirement advice,” said Peter Gordon, CEO of John Hancock Retirement Plan Services. “We selected NextCapital as a technology partner because it has the ability to help us expand how we provide the next generation of high-quality, non-conflicted, personal advice,” added Mr. Gordon.
NextCapital provides institutions with an integrated, end-to-end platform for delivering and administering automated financial advice to investors – including holistic portfolio tracking, planning, savings advice, and portfolio management.
Alois Pirker, Research Director of Aite Group, added, “John Hancock’s forward-thinking embrace of digital advice will be instrumental in growing retirement market share in the coming decade. As important, digital advice is strategically key for firms seeking to scalably implement the new DoL Fiduciary Rule requirements.”