Product & Service Launches

SageView, Transamerica Launch Pooled Employer Options 

SageView Advisory Group has partnered with Transamerica to launch Integrity Pooled Solutions, a retirement solution that includes both a 401(k) Retirement Plan Exchange and a Choice Pooled Employer Plan. Integrity Pooled Solutions officially launches on July 1, 2024. 

The 401(k) exchange allows employers of smaller companies (less than 100 employees) who may not have the expertise or time to oversee a retirement plan to offer one to its workers; the PEP is being billed as an option for plans of all sizes. 

SageView will serve as the 3(38) investment manager and financial adviser for plans joining the Exchange or the PEP, while Transamerica will serve as the recordkeeper. Transamerica Fiduciary Services is the pooled planned provider and TSG Resources is the 3(16) plan administrator, which will take on more than 90% of administrative tasks for participating plan sponsors, according to the announcement. 

Plan sponsors that join either the Exchange or the PEP will also gain access to PersonalSAGE, SageView’s financial education and engagement platform offering personalized one-on-one financial guidance and education for employees. 

MyVest, Income Discovery Launch Retirement Income Solutions 

MyVest, a provider of enterprise wealth management technology, has partnered with Income Discovery, a retirement income platform, to enable personalized, “tax-smart” withdrawals for retirement income with the goal of building a more effective bridge between retirement planning and education. 

The integrated solution provides advisers with a view into retiree household finances and tax-optimized planning features to explore systematic withdrawal recommendations, according to the firms. It also offers the ability to execute those withdrawals through tax-efficient trade order generation, in bulk across the client base, if necessary, all through an integrated experience. 

A bi-directional data connection allows advisers to monitor and manage client retirement plans, ensuring they remain on track and adaptable to changing circumstances.  

“MyVest is delighted to embark on this journey with Income Discovery, marking the first step in a roadmap designed to move retirement income from planning to action,” said Anton Honikman, CEO of MyVest, in a press release. “By leveraging our complementary strengths in tax-managed personalization, we are bringing retirement income to life and providing firms with the opportunity to differentiate their practices.” 

Avantis Offers U.S. Small Cap Equity Fund 

Avantis Investors is expanding its investment capabilities with the launch of a new mutual fund, Avantis U.S. Small Cap Equity Fund (AVSCX).  

The fund invests primarily in a diverse group of U.S. small-cap companies across market sectors and industry groups. The fund seeks securities of companies that it expects to have higher returns by placing an emphasis on securities of companies with smaller marker capitalizations and securities of companies with higher profitability and value characteristics. It has an expense ratio of 0.25%.  

The fund will be co-managed by chief investment officer Eduardo Repetto, senior portfolio managers Mitchell Firestein, Daniel Ong, CFA and Ted Randall and portfolio manager Matthew Dubin. The U.S. Small Cap Equity Fund joins Avantis’ lineup of ETFs and mutual funds spanning equities, fixed income and real estate.  

Morgan Stanley Wealth Management Adds to Suite of Generative AI Tools 

Morgan Stanley Wealth Management announced a new AI @ Morgan Stanley tool—an OpenAI-powered product that, with client consent, generates notes on a financial adviser’s behalf in client meetings and surfaces action items. 

After a meeting, the artificial intelligence summarizes key points, creates an email for an adviser to edit and send at their discretion and saves a note into Salesforce.  

The new tool, AI @ Morgan Stanley Debrief, comes after Morgan Stanley announced its relationship with OpenAI as its wealth management strategic partner in March 2023 and fully rolled out the AI @ Morgan Stanley Assistance in September 2023—a generative AI-powered chatbot offering financial advisers quick access to all of Morgan Stanley’s intellectual capital.  

To date, 98% of adviser teams have adopted the assistant, according to the firm. 

John Hancock Launches Multi Asset Credit Fund with Manulife 

John Hancock Investment Management announced it has launched the John Hancock Multi Asset Credit Fund with its affiliated investment manager Manulife, a London-based multi-sector alternative credit specialist. 

The fund will invest in multi-asset credit strategies and fixed-income asset classes, including sub-investment-grade assets with potentially less risk and volatility of high-yield assets, such as loans and high-yield bonds, asset-backed securities, regulatory capital and convertible bonds. Risk management, through diversification and minimizing the risk of default is an integral part of the investment process, according to John Hancock. 

“We’re thrilled to showcase the investment expertise at Manulife | CQS Investment Management across the credit space,” said Kristie Feinberg, head of U.S. and Europe, Manulife Investment Management, and president and CEO of John Hancock Investment Management. “By leveraging our expanded capabilities with the addition of the CQS team, we bring a semi-liquid alternative fund to advisors in an asset class that has seen recent growth in demand and may help their clients achieve their financial goals.”