Products September 8, 2022

Investment Product and Service Launches

Broadridge launches multi-jurisdictional private equity platform and GMO launches asset management platform for RIAs.

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Broadridge Launches Multi-Jurisdictional Private Equity Platform

With the aim of leveraging blockchain technology to alleviate the complexities faced by asset managers with funds in multiple geographies, Broadridge Financial Solutions has released a multi-jurisdictional version of its private equity platform, Private Market Hub, now available to funds domiciled in North America.

Broadridge’s new capabilities allow all stakeholders in a fund’s lifecycle to participate around a common set of data and workflows via a unified user interface, irrespective of the fund’s jurisdiction. Northern Trust, the cornerstone client, has gone live with the first group of North American clients.

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Private Market Hub automates and unifies workflows between front-, middle- and back-office functions while simultaneously protecting the integrity and sovereignty of data. It brings together ecosystem participants around a consistent, secure, real-time view of data—reducing friction for fund managers, investors and administrators and enabling easier auditability.

The platform is enabled by distributed ledger technology, which streamlines traditionally disconnected and inefficient processes and facilitates greater visibility across the ecosystem.

GMO Launches Asset Management Platform for RIAs

Grantham, Mayo, Van Otterloo & Co. LLC, a global investment manager, has announced the launch of Nebo, or Needs-Based Optimization. Nebo is a new, technology-driven asset allocation and portfolio management platform for registered investment advisers that streamlines and automates the process for delivering custom and personalized portfolios to their clients.

Nebo’s approach is built on the idea that the main investment risk to clients is not short-term market volatility, but rather not having the financial resources to meet the moment, both in the short and long term.

At the heart of the Nebo framework is a proprietary multi-period shortfall optimizer that constructs portfolios which minimize this critical risk. In doing so, advisers are able to directly align the client’s financial plan with their portfolio, resulting in portfolios that are better customized to the needs and circumstances of each client, all delivered through an open-architecture platform. With Nebo, advisers will be able to scale their financial planning and investment operations by having a comprehensive digital platform that can serve as the system of record for their portfolio construction and management activities.

“Nebo allows advisers to maintain their investment philosophy while adding intellectual rigor to the choices they make for their clients and the testing they can do to be confident that those choices best serve their clients’ needs,” says Martin Tarlie, member of GMO’s asset allocation team and Nebo product lead.

Nebo is born of nearly a decade of GMO research focused on solving for optimal portfolio construction that seeks to minimize shortfall risk, further enhanced by a three-year process of user-led development with a cohort of early adopters.

Data and Research September 8, 2022

Inflation Is Driving Workers to Review Benefit Choices

U.S. workers are feeling financially stressed because of inflation and want help from their employers to make optimal benefit selections.

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According to new Voya research, 70% of American employees surveyed expect to spend additional time reviewing their benefit selections because of inflation this open-enrollment season.

“With inflation at record levels not experienced in decades, the financial stress caused by increasing prices is taking a toll on American workers,” Rob Grubka, CEO of health solutions at Voya Financial, said in a statement. “With the fall open enrollment season approaching for millions of Americans, it’s encouraging to see that workers intend to carve out more time to focus on reviewing all the workplace benefits offered by their employers to help optimize every hard-earned dollar.”

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The research found that 74% of workers feel more stressed about their personal financial situation because of inflation, compared with 66% in March, and 70% of employees want support from their employer to make the optimal benefits selections across retirement savings, health care, health savings accounts and voluntary benefits like critical illness, hospital indemnity, disability income or accident insurance.  

“For employers and benefits providers, this presents a tremendous opportunity to work together to help simplify and personalize the annual enrollment experience so employees can act with confidence in how they allocate their next dollar,” Andrew Frend, senior vice president of strategy and product at Voya health solutions, said in a statement. “In addition to year-round education and communications efforts, innovative solutions and technology can be a game-changer.”

The research also found that 88% of Americans surveyed said widespread effects from inflation—38% cited the rising cost of food and groceries, 35% cited increasing gas prices and 15% said the cost of housing—are what worries them the most.

Inflation’s effects have also driven some employers to alter their budgets for medical and voluntary benefits spending this open-enrollment season—often held in the fall or near the end of the calendar year—when workers select benefits for the year.

The Voya survey was conducted online from June 17 to 21 by Ipsos. Data was gathered from 1,005 adults, including 495 U.S. workers over age 18.

Throughout the COVID-19 pandemic, Voya surveys have collected consumer insights examining how Americans are feeling about their personal finances, student loan debt, workplace benefits, retirement plans and other benefits and savings topics.

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