Morgan Stanley at Work has entered into a strategic partnership with Empower Retirement to provide a comprehensive workplace retirement offering for employers that want to attract and retain top talent.
According to the Sept. 13 announcement, the partnership is an expansion of both firms’ long-standing relationship, leveraging Morgan Stanley’s investment services experience and Empower’s comprehensive technology, 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.
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 team; and
- favorable administrative pricing terms through Morgan Stanley.
“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,” stated Richard Linton, President of Workplace Solutions for Empower Retirement.
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.
