Edelman Launches Integrated Plan Service for Employees at Small, Midsize Businesses
Edelman Financial Engines LLC launched Edelman Financial Engines Retirement & Employee Planning Solutions, an integrated workplace retirement solution for small- and midsize business owners and their employees.
Available through ADP, the service includes EFE’s institutional-grade investment management, 3(38) investment management, plan consulting and financial advice to participants. EFE can assume 3(38) investment fiduciary responsibility at both the plan and participant level. Employees also gain unlimited access to EFE’s phone-based licensed advisers, as well as on-demand digital planning tools.
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Income Lab Offers Withdrawal Optimizer
Income Laboratory Inc., a financial planning and income distribution software provider for advisers, launched the Withdrawal Optimizer, a tool that helps advisers determine how to fund unexpected client cash needs while considering the client’s financial plan, holdings, income and tax situation.
Available to Income Lab Pro subscribers with Penny, the firm’s tactical intelligence platform, the Withdrawal Optimizer identifies which accounts and holdings will fund a requested withdrawal, conforming to preferences and constraints.
The capability operates on a household’s actual securities holdings. Through Income Lab’s integrations with custodians and other software and technology available to advisers, the platform can analyze positions at the ticker and tax lot level, allowing advisers to evaluate specific holdings.
Orion Expands Advisor Trading Platform
Orion Advisor Solutions Inc. announced an expansion of its Advisor Trading platform, integrating Orion’s trading and rebalancing technology into advisers’ daily workflows.
Advisor Trading allows firms to grant specific features or portions of features to individual advisers. The workflows are linked to Portfolio View, placing trading alongside artificial intelligence-powered capabilities that advisers already use.
The announcement states that Orion plans, later this year, to add an AI trading assistant that uses natural language to help advisers manage trading preferences, review the previous day’s trades and support pre- and post-trade review.
PGIM Launches 2 Core Equity ETFs
PGIM, the asset management business of Prudential Financial Inc., launched two core equity exchange-traded funds: the PGIM Jennison Small-Mid Cap Core ETF (PJSM) and the PGIM Jennison International Core ETF (PJIN). Both ETFs are sub-advised by Jennison Associates, an investment group within PGIM that specializes in fundamental equity and fixed-income investment strategies.
PJSM invests at least 80% of its investable assets in equity and equity-related securities of small- and medium-capitalization companies. Jennison considers small- and medium-cap companies to be those with market capitalizations less than the largest market capitalization found in the Russell 2500 Index. The ETF is listed on the NYSE Arca Inc. and is offered at a 0.29% net expense ratio.
The PJIN invests primarily in issuers that are non-U.S. companies located in countries outside of the U.S. or having their primary economic exposure outside of the U.S., including non-U.S. issuers located in emerging markets. The ETF is also listed on the NYSE Arca and is offered at a 0.23% net expense ratio.
BambooHR, Human Interest Partner On Embedded Plan Offering
Bamboo HR LLC, a human resources platform for small and midsize businesses, partnered with recordkeeper and administrative fiduciary company Human Interest Inc. to launch the BambooHR 401(k), a retirement plan offering embedded directly into the BambooHR platform.
The plan allows BambooHR customers to learn about their plan options and connect with Human Interest’s guided plan selection service. Once a plan is purchased, payroll data syncs automatically between the two platforms.
Key features of the integration include automated plan administration, compliance support, dedicated rollover support and custom plan design.
