Benefit Consultants Group, a Horace Mann Company, teams up with Russell Investments to launch Personalized Retirement Accounts
SEATTLE, July 10, 2020 — Benefit Consultants Group (BCG), a Horace Mann Company, is pleased to partner with Russell Investments to offer Personalized Retirement Accounts (PRA) on the BCG platform, effective June 30. PRA, an innovative Defined Contribution solution, is the next evolution of default investing addressing the needs of advisors, plan sponsors, recordkeepers and participants.
“We’re excited about the opportunity to work with Russell Investments to offer PRA to the advisor community. BCG is dedicated to helping our partners provide plan sponsors and participants with customized, outcome-oriented asset allocations. The goal of this product is to increase the likelihood plan participants will reach their targeted retirement income objectives and be ready for retirement,” said Michael Reis, Vice President of Business Development at BCG.
Financial Advisors benefit with Personalized Retirement Accounts:
- Participants receive a customized asset allocation that solves for a targeted retirement income goal using Russell Investments' capital market assumptions and an asset allocation model
- No participant input is necessary as the required data points are collected through a seamless technology connection to recordkeeper or plan sponsor data
- Utilizes a plan’s core investment options as selected and monitored by the financial advisor
- Provides financial advisors with quarterly trend reports to communicate results to plan sponsor
“Our Personalized Retirement Accounts are a great fit for the BCG platform as our two firms are fully aligned philosophically on providing plan participants with tailored solutions to improve their retirement readiness,” said Kevin Knowles, Senior Director, Strategic Accounts at Russell Investments. “We look forward to a productive partnership that ultimately helps their participants achieve desired retirement income goals.”
About Benefit Consultants Group
Since 1958, Benefit Consultants Group has been helping Americans create the peace of mind that comes with financial security. BCG provides high quality recordkeeping as well as innovative retirement and investment planning solutions to meet their clients’ needs. For more information, visit bcgbenefits.com.
About Horace Mann
Horace Mann is the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Ill. For more information, visit horacemann.com.
About Russell Investments
Russell Investments is a leading global investment firm providing tailored solutions and services to institutions and individuals through financial intermediaries. Russell Investments is dedicated to improving people’s financial security, leveraging an 83-year client-centric heritage rooted in investment innovation. The firm is the fourth-largest adviser in the world with $270.1 billion in assets under management (as of 3/31/2020) and $2.5 trillion in assets under advisement (as of 12/31/2019) for clients in 32 countries. Headquartered in Seattle, Washington, Russell Investments operates through 21 additional offices in major financial centers such as New York, London, Tokyo and Shanghai.
Steve Claiborne, 206-505-1858,firstname.lastname@example.org