Empower says it has partnered with Rockefeller Capital Management for a new retirement planning platform for employers.
The new offering, dubbed Rockefeller Capital Management Retirement Plan Fiduciary Manager, aims to help companies offer their employees a simplified digital platform where they can customize and manage their financial plans, according to Empower.
Employers will be able to tap the expertise of Rockefeller, which offers individual and group retirement services through private wealth management and family office advisors, as well as the tools and resources from Empower, including access to over 7,000 investment funds, the company says.
In addition, participants in the program will gain additional fiduciary protection by having Rockefeller act as an Employee Retirement Income Security Act investment manager to the plan, according to Empower.
“The business owners our advisors serve have many priorities to balance, from navigating inflation and changing markets to improving employee retention,” Gregory Fleming, president and chief executive officer of Rockefeller Capital Management, said in a statement. “Combined with a competitive benefits package, the RCM Retirement Plan Fiduciary Manager provides a range of retirement savings options to help employers attract and retain top talent while allowing them to save time, reduce costs, increase efficiencies and focus on their other business needs.”
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