New offering raises the bar on personalized advice at scale
to help savers reach retirement goals
PGIM,1 the $1.33 trillion global investment management business
of Prudential Financial, Inc. (NYSE: PRU), and iJoin, a leading
retirement plan technology innovator, have announced that the PGIM
RetireWell™ Managed Accounts — a highly personalized offering —
will soon be available to the growing list of iJoin-enabled
recordkeepers through its Managed Account Program (MAP)
marketplace. This integration leverages the power of the PGIM
RetireWell™ Advice Engine in combination with iJoin’s goals-based
user experience, portfolio allocation technology, and a plan
advisor’s investment lineup to enable a more holistic retirement
planning journey for plan participants.
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the full release here:
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“The PGIM RetireWell Managed Accounts
were created to solve for the retirement challenge that American
workers face today — transforming savings into adequate,
sustainable retirement income.” -- Michael Miller, Head of PGIM DC
Solutions (Photo: Business Wire)
Configurable as a plan’s Qualified Default Investment
Alternative (QDIA) or via opt-in, PGIM RetireWell Managed Accounts
incorporate proprietary methodology and patent-pending technology
to create a personalized retirement strategy based on each
participant’s unique data, preferences and goals. Leveraging
iJoin’s sophisticated yet intuitive user experience, the PGIM
RetireWell Managed Account invites investors to fine-tune their
income goal by expressing risk tolerance preferences as well as
considering health-related priorities.
Michael Miller, head of PGIM DC Solutions, said: “The PGIM
RetireWell Managed Accounts were created to solve for the
retirement challenge that American workers face today —
transforming savings into an adequate, sustainable stream of
retirement income. PGIM’s highly personalized solution offers the
innovation employers need for better retirement outcomes for their
plan participants.”
Steve McCoy, CEO of iJoin, remarked: “We admire the significant
investment the PGIM team has made in developing an advisor-led
managed account experience that more holistically factors an
individual’s unique and changing circumstances. Together, we’re
able to present a highly differentiated user experience that
addresses underlying complexities while remaining intuitive.”
There is growing evidence that managed advice is desired by a
majority of plan participants2 and can lead to higher overall
savings rates.3
Since 2020, iJoin has integrated its data-driven, goals-based
participant experience with leading providers of managed account
programs, in-plan income, and IRA rollover solutions. Available
through a growing number of retirement plan recordkeepers,
financial advisors now enjoy unparalleled product choice with which
to make informed recommendations based on plan and participant
suitability.
The PGIM RetireWell Managed Accounts are part of PGIM
RetireWell™ Solutions, a suite of tools, products and solutions
developed to help defined contribution plan participants achieve
better retirement outcomes through holistic advice and
guidance.
Please contact PGIM DC Solutions for more program information
for plan recordkeepers and plan advisors.
ABOUT PGIM DC SOLUTIONS
As the retirement solutions provider of PGIM, PGIM DC Solutions
seeks to deliver innovative defined contribution solutions founded
on market-leading research and capabilities. Our highly experienced
team partners with clients on customized solutions to solve for
retirement income. As of June 30, 2024, PGIM has $170 billion in DC
assets under management and PGIM DC Solutions’ AUM is $1.3
billion.4
ABOUT PGIM
PGIM is the global asset management business of Prudential
Financial, Inc. (NYSE: PRU). In 41 offices across 18 countries, our
more than 1,400 investment professionals serve both retail and
institutional clients around the world.
As a leading global asset manager with $1.33 trillion in assets
under management,5 PGIM is built on a foundation of strength,
stability, and disciplined risk management. Our multi-affiliate
model allows us to deliver specialized expertise across key asset
classes with a focused investment approach. This gives our clients
a diversified suite of investment strategies and solutions with
global depth and scale across public and private asset classes,
including fixed income, equities, real estate, private credit, and
other alternatives. For more information, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not
affiliated in any manner with Prudential plc, incorporated in the
United Kingdom or with Prudential Assurance Company, a subsidiary
of M&G plc, incorporated in the United Kingdom. For more
information, please visit news.prudential.com.
ABOUT LDI-MAP, LLC (dba iJoin)
iJoin is a leading retirement plan infrastructure technology
partner supporting cost-efficient personalized managed account
programs, built-in plan health analytics and reporting tools,
financial education and wellness, access to guaranteed income
products, and IRA rollovers. We're built to help financial advisors
differentiate and win. LDI-MAP (d.b.a. iJoin) is a registered
investment advisor with the State of Arizona – 16430 N. Scottsdale
Road Suite 200, Scottsdale, AZ 85254. Learn more at
ijoinsuccess.com.
1 The term PGIM as used in this announcement includes PGIM DC
Solutions LLC, an indirect wholly owned subsidiary of PGIM,
Inc.
2 Source: The 2022 BlackRock Read on Retirement, 76% of plan
participants are interested in using a service that provides
personalized investment recommendations and manages their
investments on their behalf.
3 Source: Transamerica: Managed Accounts in Retirement Plans;
Measuring the impact of a personalized, goal-based retirement
strategy, 2023, page 6.
4 Reported data reflect the assets under management by PGIM and
its investment adviser affiliates for defined contribution
investment purposes only.
5 As of June 30, 2024
This material is being provided for informational or educational
purposes only and does not take into account the investment
objectives or financial situation of any client or prospective
clients. The information is not intended as investment advice and
is not a recommendation. Clients seeking information regarding
their particular investment needs should contact a financial
professional.
PGIM DC Solutions LLC ("PGIM DC Solutions") is an SEC-registered
investment adviser, a Delaware limited liability company, and an
indirect wholly-owned subsidiary of PGIM, Inc. ("PGIM"), the
principal asset management business of Prudential Financial, Inc.
("PFI") of the United States of America. PGIM DC Solutions is the
retirement solutions provider of PGIM and aims to provide
innovative defined contribution solutions founded on market leading
research and investment capabilities. Registration with the SEC
does not imply a certain level of skill or training. PGIM DC
Solutions does not establish or operate pension plans.
PGIM DC Solutions aims to help participants achieve their
retirement goals through their suite of “PGIM RetireWell™”
solutions. These solutions may include a range of investment
options including target date portfolios, retirement spending
strategies, and managed accounts powered by our proprietary advice
engine. There is no guarantee that investment or retirement goals
will be achieved. Use of the term “RetireWell” and any related
phrase is not intended to indicate that such goals will be
achieved.
© 2024 Prudential Financial, Inc. and its related entities.
Prudential, the Rock symbol, and the PGIM logo are service marks of
Prudential Financial, Inc. and its related entities, registered in
many jurisdictions worldwide.
PGIM DCS – 3888440
CONNECT WITH US: Visit pgim.com Follow on LinkedIn
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version on businesswire.com: https://www.businesswire.com/news/home/20240930573133/en/
MEDIA CONTACTS PGIM: Kylie Scott +1 908 313 5332
kylie.scott@pgim.com iJoin: Alan Gross GSM Marketing + 1 904
565 2959 alan.gross@gsm.marketing
Grafico Azioni Prudential Financial (NYSE:PRU)
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