Securian Financial has expanded its retirement plan investment offerings with the introduction of a managed account solution that creates a personalized investment allocation unique to each employee.
Using data already provided instead of building out systems and expecting employees to act, Target Pro Portfolios streamlines processes and keeps costs reasonable, according to the firm’s announcement. Employees who want to provide additional data will be able to do so to further personalize their allocation.
“Typical managed accounts require employees to take action and many times that just does not happen, so we’ve taken a different path,” says Steve Chappell, Securian Financial vice president for retirement solutions distribution. “We believe there’s an evolution happening where individuals of all ages value a strategy based on their unique circumstances. The no effort, reasonable cost approach of Target Pro Portfolios makes it a feasible solution to meet those new expectations.”
Stadion Money Management will create the asset allocation formula for participants using Target Pro Portfolios. Financial professionals can choose the degree of fiduciary involvement best suited to their clients, practice and value proposition. Moreover, all aspects of portfolio management are integrated with Securian Financial’s recordkeeping system, resulting in a seamless experience for financial professionals, plan sponsors and participants, the announcement notes.
Advisory firms Pensionmark and Resources Investment Advisors have been building integration with Securian Financial and Stadion to utilize their own white labeled solutions with their clients.
