US. Alliance Benefit Group partners with global asset manager on retirement accounts
National independent record-keeping firm Alliance Benefit Group has announced a partnership with global asset manager Russell Investments’ Adaptive Retirement Accounts program in an effort to aid plan sponsors and advisers achieve an appropriate level of retirement income.
As part of the joint venture, Alliance plans to offer the managed accounts program to its clients as well as partner with Russell Investments’ defined contribution and intermediary sales teams to jointly promote the retirement program to the adviser community. In return, Russell seeks to complement the fiduciary advice advisers provide in selecting and monitoring plan investments.
Don Mackanos, president of Alliance Benefits Group, says managed accounts are a competitive differentiator because the program can provide lower-cost plans and save more retirement dollars than target date funds.
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