Future Capital, a tech-enabled RIA based in Tennessee, has forged a strategic partnership aimed at helping financial advisors deepen their relationships with clients on their wealth journey toward retirement.
Under the collaboration, privately owned broker-dealer Money Concepts will enhance its services by incorporating Future Capital's solutions designed to promote improved retirement outcomes.
The partnership will allow Money Concepts’ network of advisors to seamlessly manage their clients' held-away 401(k) assets, regardless of their relationship with the plan sponsor or provider.
"Our partnership with Money Concepts strategically enables advisors to better serve their clients at the convergence of wealth and retirement,” Jay Jumper, founder and chief executive officer of Future Capital, said in a statement.
“We're proud to equip advisors with the data, insights, and tools needed to create new growth opportunities by providing exceptional service and comprehensive solutions tailored to the unique needs of current and prospective clients," he said.
“Partnering with Future Capital means bringing a robust, tech-forward solution to our advisors, enhancing their ability to provide their clients with the solutions they want and need,” added Denis Walsh, president and chief executive officer of Money Concepts.
The retirement planning industry could very well be a deep and rich blue ocean for holistic wealth advisors to dive into. Reports from Bank of America and T. Rowe Price both show a surge in 401(k) balances over the past year, fueled by a combination of a buoyant financial market and an increased focus on retirement savings among working Americans.
How much do advisors with their fingers in the 401(k) pie actually get in fees? That information is hard to come by, and the numbers available are tricky to boil down. One report by Pension Data Source earlier this year shows different rates of compensation, with $5 million 401(k)s paying an average of 37 basis points and $50 million plans paying 17 bps.
Future Capital isn’t the first tech-focused firm to take notice of the opportunity, though. Just last month, fintech provider Pontera announced a partnership with Ameritas Advisory Services, which would let advisors at the hybrid RIA monitor and handle clients’ held-away assets in 401(k)s, as well as 403(b)s, 457(b)s, and other employer-sponsored retirement plans.
Catch-up contributions, required minimum distributions, and 529 plans are just some of the areas the Biden-ratified legislation touches.
Following a similar move by Robinhood, the online investing platform said it will also offer 24/5 trading initially with a menu of 100 US-listed stocks and ETFs.
The private equity giant will support the advisor tech marketing firm in boosting its AI capabilities and scaling its enterprise relationships.
The privately backed RIA's newest partner firm brings $850 million in assets while giving it a new foothold in the Salt Lake City region.
The latest preliminary data show $117 billion in second-quarter sales, but hints of a slowdown are emerging.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
