Morgan Stanley at Work and Empower Retirement Join Forces to Modernize Workplace Wealth Solutions for Plan Sponsors and Participants
13 Setembro 2021 - 11:00AM
Business Wire
Morgan Stanley at Work announced today a strategic partnership
with Empower Retirement that provides a modern, comprehensive
workplace retirement offering for employers who want to attract and
retain top talent through benefits. The partnership is an expansion
of both firms’ long-standing relationship, leveraging Morgan
Stanley’s investment services experience and Empower’s
comprehensive and leading-edge technology and product and service
capabilities.
“We are pleased to continue to strengthen our relationship with
Empower and to reimagine the retirement space—giving employers the
services they need under one roof, while also helping employees to
achieve the best possible outcomes for their financial futures,”
said Brian McDonald, Co-head of Morgan Stanley at Work. “Morgan
Stanley at Work and Empower currently have thousands of mutual
clients and we expect that number to grow significantly through
this expanded partnership.”
Highlights of the partnership will include:
- Combined access to Morgan Stanley at Work’s stock plan
administration services and Empower’s growing retirement plan
market share;
- Access to cobranded digital-forward solutions and
capabilities;
- Streamlined administration for plan sponsors and Financial
Advisors;
- Fund selection driven by the Morgan Stanley Global Investment
Manager Analysis (GIMA) team; and
- Favorable administrative pricing terms through Morgan
Stanley.
Richard Linton, President of Workplace Solutions for Empower
Retirement, said, “Our clients are consistently looking for
innovative ways to engage with their employees. Our utmost priority
is providing retirement plans that meet their needs, and are
intuitive, user-friendly and outcome oriented. By combining our
modern, cutting-edge technology and platform with Morgan Stanley at
Work—in our view, the only provider in the market offering a truly
holistic and differentiated digital experience—this is a win-win
strategy for our clients and their participants.”
The Empower partnership will expand Morgan Stanley at Work’s
ability to serve advisor-sold plans under $50 million in assets
with comprehensive retirement solutions to attract and retain
talent. The partnership with Empower comes shortly after Morgan
Stanley at Work announced a business partnership and strategic
investment with Vestwell to serve small retirement plans,
demonstrating its commitment to innovation and thoughtful
disruption in the workplace wealth space.
Morgan Stanley at Work’s Retirement Solutions offers a flexible,
multi-provider recordkeeper platform designed to meet the
individual needs of companies. In addition to providing customized
retirement solutions, Morgan Stanley at Work has dedicated
retirement specialists that understand the challenges businesses
face and offer support and service for their employees. Through a
consultative process, the Firm’s retirement specialists help
companies improve plan competitiveness and fiduciary risk
management, investment selection and monitoring, and employee
retirement readiness.
Retirement Solutions is part of the Morgan Stanley at Work suite
of financial solutions, which spans Equity Compensation through
Shareworks and E*TRADE Equity Edge Online, Retirement and Financial
Wellness Solutions. Morgan Stanley at Work combines cutting-edge
planning and risk management software, Morgan Stanley intellectual
capital and financial education delivered through multiple channels
to help employees to build a holistic plan to achieve their
financial goals. Employee stock plan solutions, including Equity
Edge Online, are part of the Morgan Stanley at Work solutions and
are offered by E*TRADE Financial Corporate Services, Inc. Morgan
Stanley at Work currently has offices in the U.S., Canada, Europe
and Asia Pacific.
About Empower Retirement
Headquartered in metro Denver, Empower Retirement administers
approximately $1.1 trillion in assets for more than 12.6 million
retirement plan participants as of June 30, 2021.1 It is the
nation’s second-largest retirement plan recordkeeper by total
participants.2 Empower serves all segments of the
employer-sponsored retirement plan market: government 457 plans;
small, midsize and large corporate 401(k) clients; not-for-profit
403(b) entities; Taft-Hartley plans; private-label recordkeeping
clients; and IRA and brokerage customers. Personal Capital, a
subsidiary of Empower Retirement, is an industry-leading hybrid
wealth manager. For more information please visit
empower-retirement.com.
1As of June 30, 2021. Information refers to the business of
Great-West Life & Annuity Insurance Company and its
subsidiaries, including Great-West Life & Annuity Insurance
Company of New York and GWFS Equities, Inc. GWLA’s consolidated
total assets under administration (AUA) were $1,131B. AUA is a
non-GAAP measure and does not reflect the financial stability or
strength of a company. GWLA’s statutory assets total $75.2B and
liabilities total $73.3B. GWLANY statutory assets total $3.5B and
liabilities total $3.3B.
2Pensions & Investments 2020 Defined Contribution Survey
Ranking as of April 2021.
RO1827791-0921
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing investment banking, securities, investment
management and wealth management services. With offices in more
than 41 countries, the Firm's employees serve clients worldwide
including corporations, governments, institutions and individuals.
For more information about Morgan Stanley, please visit
www.morganstanley.com.
© 2021 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 3752393 (9/2021)
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Katrina Clay, 212.761.4305
Morgan Stanley (NYSE:MS)
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