The financial services organization and principal franchise of Equitable Holdings recently announced the addition of customized managed accounts and a cash balance plan to its group retirement plans for small-to-medium sized businesses.
These additional services, according to the July 1 announcement, will allow business owners and their employees to further tailor their investment portfolios and plan design to help them reach their goals.
“Despite the fact that small businesses are facing one of the most challenging periods in recent history given the COVID-19 pandemic, small business owners aren’t giving up their dreams of financial stability and a comfortable retirement for themselves and their employees,” notes Jessica Baehr, Equitable’s head of Group Retirement. “Extending increased customization and personalization in their 401(k) plans, along with advice and a full suite of employee benefits solutions is important to helping small business owners and their employees weather uncertainty and plan for their financial futures.”
The new managed account will be provided through Stadion Money Management, an investment management firm and 3(38) participant-level fiduciary approved by both institutional plan level fiduciary partners, Wilshire and SWBC. There are no minimum account balances for either plans or their participants.
Earlier this year, the company integrated a technology platform developed by Corporate & Endowment Solutions, Inc. to enable small businesses to provide customized strategies to manage a full range of employee benefits offerings, integral to acquiring and retaining top talent.
