Investment manager T. Rowe Price announced Thursday it is acquiring retirement planning software provider Retiree Inc., in a deal that is expected to close during the second quarter.
T. Rowe Price said Retiree’s software will bolster its existing capabilities to create a more comprehensive suite of retirement income solutions for investors and practitioner tools for financial professionals.
Terms of the deal were not disclosed.
“Combined with our investment capabilities, we believe Retiree, Inc.’s retirement income technology will help millions of Americans confidently prepare, save for, and live in retirement,” Dee Sawyer, head of retirement plan services and U.S. intermediaries at T. Rowe Price, said in a statement.
Sawyer added that she expects Retiree’s software will be an important part of the fund manager's strategy “to build personalized retirement income solutions and services for our clients.”
Retiree’s tax-aware income planning software enables clients to improve their ability to make decisions about drawing from a household’s accounts with different tax treatments, including Roth conversion strategies, with the goal of increasing the lifetime value of total after-tax income and and the bequest value.
“This acquisition provides T. Rowe Price the ability to meet this need at scale and more thoroughly deliver the strategies, tools and confidence millions of people need to live the retirement they envision,” said William Meyer, founder and CEO of Retiree Inc.
NFP data shows an engagement gap is holding back retirement readiness despite high trust.
Alan Feutz leaves the wirehouse in Illinois, while a team of five make a break from their Connecticut firm.
“The White House has extremely strict ethical guidelines with respect to issues like this,” said Press Secretary Karoline Leavitt.
Just how much does it cost for a financial advice exec to stay out of prison?
The advisor both prices FSK's private loans and gets paid on those prices, the suit claims
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
