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.
After years of encouraging sacrifice and delayed gratification, advisors have to do the next emotional lift: helping clients let go of a potentially harmful scarcity mindset.
A new JPMorganChase Institute report reveals how deeply stock market wealth now drives everyday American spending, especially for retirees.
A survey of 507 solo agers finds most lack confidence in their plans and that systems, not just individuals, need to change.
A new Schroders survey exposes a widening gap between what Americans expect in retirement and what they're actually on track to receive.
Two wealthtech providers are handing advisors the controls, letting firms design their own workflows and AI agents in plain language.
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
