SS&C Technologies Holdings announced a collaborative agreement with Envestnet Retirement Solutions to integrate its Managed Account solution with SS&C's retirement record keeping platform, TRAC®.
"One of the keys to our TRAC retirement account servicing platform is the ability to provide clients with choice and flexibility," said John Geli, president of Retirement Solutions, SS&C Technologies. "We are pleased to partner with ERS to give our clients another Managed Account option to help them differentiate and better serve their clients."
To be a leader in the retirement space, a provider must keep up with the changing regulatory environment, technology advancements and the evolving advisor and consumer demand for control.
A key opportunity for plan sponsors to stay at the forefront of these changes and improve retirement outcomes is leveraging increasingly popular Managed Account solutions.
Adding the ERS offering to the DST retirement ecosystem enables retirement providers to meet the diverse needs of the defined contribution marketplace.
TRAC currently supports multiple managed account solutions and the partnership with ERS is the latest addition.
Babu Sivadasan, group president of Envestnet Retirement Solutions said, "Our partnership with SS&C will deliver one of the most comprehensive and dynamic Managed Account solutions in the market today. One size doesn't fit all, which is why we built a solution personalized for each participant that can be adapted by the advisor. ERS can merely be the technology solution matched with the advisor's customized investment solution. The advisor can also outsource any aspect of the solution to third party strategists including ERS, from Capital Markets Assumptions to the Asset Class Portfolios to the fund selection. The core feature of ERS's partnership will be to allow plan providers to build both opt-in Managed Accounts and Managed QDIAs, enabling advisor partners to provide individualized glide paths to optimize each participant's accumulation and post-retirement decumulation."
