LeafHouse, iJoin and ARS Launch Managed Account With Lifetime Income TDF


Automated, personalized advice will include State Street income builder target-date funds to incorporate lifetime income options.

by Alex Ortolani

This article was originally posted by Plan Adviser.

LeafHouse, iJoin, and Advantage Retirement Solutions have teamed up to offer a new managed account that features State Street’s target-date funds with a lifetime income component.

The Automated Personalized Portfolio managed account is designed to provide participants with personalized advice, along with a retirement income option in the form of the State Street GTC Retirement Income Builder Series TDFs, according to the announcement. The income builder combines State Street Global Advisors’ asset management with ARS’s lifetime income product; Global Trust Co. is the fiduciary and trustee of the series.

In the announcement, the firms cited Franklin Templeton research finding that 78% of workers are interested in a more personalized 401(k) option and 85% believe lifetime income should be an option in their retirement plan.

“When 85% of your customer base is demanding something, you better consider providing it,” said Todd Kading, LeafHouse’s CEO, in a statement.

The automated, personalized portfolio will be created through LeafHouse’s FlexFiduciary product and reallocateIT portfolio management technology, combined with iJoin’s participant experience, according to the announcement. Meanwhile, the State Street GTC Retirement Income Builder Series is included with the goal of providing growth potential, retirement risk mitigation and a personalized lifetime income strategy built into the glide path.

Dimensional Fund Advisors LP is also providing investment solutions to users to complement the core investment.

“This consortium of industry-leading product innovators was established to help drive better participant outcomes through participant-centric innovation,” said Dave Paulsen, chief distribution officer for ARS, in a statement. “We are committed to offering participants personalized saving vehicles that also seek to deliver lifetime income, aiming to provide the tools they are asking for to help achieve their financial goals in retirement.”

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