PGIM’s Strategic Partnership with iJoin: Expanding the Reach of PGIM RetireWell™ Managed Accounts

PGIM, a leading global investment management firm, recently announced a strategic partnership with iJoin, a digital platform that simplifies the retirement account rollover process for employees. This collaboration aims to extend the reach of PGIM’s RetireWell™ Managed Accounts to a wider audience.

Expanding PGIM’s Presence in the Retirement Market

With this partnership, PGIM aims to expand its presence in the retirement market by offering its managed accounts to a larger pool of potential clients through iJoin’s digital platform. iJoin‘s streamlined rollover process enables participants to transfer their retirement assets seamlessly and efficiently, making it an attractive option for employers looking to provide their employees with more comprehensive retirement solutions.

Streamlined Rollover Process

iJoin’s rollover process involves a few simple steps: participants complete an online form to initiate the transfer, receive instructions on how to move their assets, and monitor the progress of their transfer in real-time. This eliminates the need for manual paperwork and phone calls, saving both time and resources for all parties involved.

Enhancing PGIM’s RetireWell™ Managed Accounts

By integrating with iJoin, PGIM’s RetireWell™ Managed Accounts are now more accessible to a broader audience. These accounts offer personalized investment strategies, professional management, and ongoing guidance to help participants prepare for their retirement goals. The collaboration with iJoin is expected to drive growth in PGIM’s retirement business, as more employers look to offer their employees a comprehensive suite of retirement solutions.

Streamlining Retirement Administration

The partnership between PGIM and iJoin also focuses on streamlining retirement administration for employers. By using iJoin’s platform, employers can easily manage their employees’ rollovers and track the progress of each transfer. This simplifies the administrative process for HR departments and ensures a smoother transition for participants, ultimately leading to increased employee satisfaction and engagement.

PGIM and iJoin: A Strategic Partnership for Digital Retirement Solutions

PGIM, a global investment management firm with more than $1 trillion in assets under management, offers a wide range of investment solutions for individual and institutional clients. One of PGIM’s notable offerings is the PGIM RetireWell™ Managed Accounts platform, which provides personalized retirement income strategies designed to help individuals achieve their financial goals in retirement. This customized approach aligns with the changing demographic landscape and increasing need for tailored retirement solutions.

Introducing iJoin: A Fintech Company Specializing in Digital Retirement Solutions

iJoin is a leading fintech company that specializes in digital retirement solutions. With a mission to simplify the retirement process, iJoin offers a seamless and user-friendly platform for individuals to manage their retirement accounts. Its advanced technology enables users to easily consolidate, track, and analyze their retirement savings across multiple plans. Furthermore, iJoin’s platform offers personalized investment recommendations based on an individual’s risk profile and goals.

The Strategic Partnership: PGIM RetireWell™ Managed Accounts and iJoin

In a move to further enhance the retirement experience for its clients, PGIM recently announced a strategic partnership with iJoin. This collaboration aims to provide PGIM’s RetireWell™ Managed Accounts clients with access to iJoin’s digital retirement platform, enabling them to consolidate and manage their retirement accounts more efficiently. This integration not only streamlines the account management process but also provides RetireWell™ clients with personalized investment recommendations based on their risk profile and goals.

Benefits for PGIM:

• Enhances the overall retirement experience for RetireWell™ clients
• Leverages iJoin’s advanced technology to offer personalized investment recommendations

Benefits for iJoin:

• Expands its reach to a larger customer base through the partnership with PGIM
• Enhances the value proposition for iJoin’s platform by offering access to a reputable investment management firm

Implications and Future Prospects

The strategic partnership between PGIM and iJoin represents a significant step forward in the digital retirement space. By combining PGIM’s investment expertise with iJoin’s advanced technology, the collaboration aims to create a more seamless and personalized retirement experience for individuals. As the retirement landscape continues to evolve, partnerships like these are expected to become increasingly common as firms look for innovative ways to meet the unique needs of their clients.

Background of the Partnership

PGIM, the global investment management business of Prudential plc, has been actively pursuing expansion in the digital retirement solutions space. One of PGIM’s significant moves in this direction was the acquisition of Principal Global Retirement Solutions (PGRS) in 2019. PGRS, a leader in defined contribution recordkeeping and administration services, brought PGIM a broader range of retirement solutions and capabilities. This acquisition was a strategic step towards PGIM’s goal of enhancing its digital offerings in the retirement space.

Another notable development was the launch of PGIM RetireWell™ Managed Accounts, which offers personalized investment management services to defined contribution plan participants. This product provides a more comprehensive and tailored approach to retirement savings, aligning with PGIM’s ongoing efforts to cater to the evolving needs of employers and employees.

Meanwhile,

iJoin

, a digital platform aimed at streamlining employee access to retirement plans, has been making waves in the retirement technology landscape. Founded in 2013, iJoin has built a reputation for simplifying the process of enrolling and managing retirement plans. The platform’s user-friendly design and seamless integration with payroll systems have contributed to its growth.

iJoin’s

partnerships

with major industry players like Principal, BlackRock, and Fidelity have further solidified its position. These strategic alliances allow iJoin to offer a broader range of investment options to its users, thereby catering to the diverse needs and preferences of various employer groups. Overall, PGIM’s acquisition of PGRS and iJoin’s continued growth represent significant strides in the digital transformation of retirement solutions.

I The Strategic Partnership: PGIM’s RetireWell™ Managed Accounts on iJoin’s Platform

PGIM‘s RetireWell™ Managed Accounts, a leading solution for defined contribution retirement plans, and iJoin, a digital platform designed to simplify the benefits experience, have recently formed a strategic partnership. This integration offers a unique solution for employers, enabling them to provide their employees with RetireWell™ Managed Accounts through the iJoin platform.

Description of how employers can offer the solution to their employees:

By offering RetireWell™ Managed Accounts on iJoin, employers can streamline the retirement savings process for their employees. The integration allows for automatic enrollment, contribution adjustments, and investment management directly through iJoin. Employees can easily access and manage their retirement accounts alongside their other benefits, making it more convenient for them to engage with their savings.

Benefits of a combined offering for both parties:

PGIM benefits from this partnership by expanding its reach and digital distribution for RetireWell™ Managed Accounts. By integrating with iJoin, PGIM can offer its managed account services to a larger audience and provide greater convenience for employers and their employees.

Potential increase in assets under management for PGIM:

The partnership between PGIM and iJoin may lead to a significant increase in assets under management (AUM) for PGIM. By providing access to their managed accounts through iJoin, PGIM can attract new clients and grow their business.

Broadened digital distribution for RetireWell™ Managed Accounts:

This integration enables PGIM to reach a broader audience by providing digital access to their managed account services. By integrating with iJoin, PGIM can offer its solutions to more employers and their employees, improving accessibility for those who may not have had the opportunity to utilize managed accounts in the past.

Improved user experience and convenience for iJoin customers:

The partnership between PGIM and iJoin also offers significant benefits to iJoin customers. By integrating RetireWell™ Managed Accounts into their platform, iJoin can provide a more comprehensive benefits package to employers and their employees. This integration streamlines the retirement savings process, making it easier for users to manage all of their benefits in one place.

Analysis of the Strategic Partnership

Market analysis: In the context of the strategic partnership between Company A and Company B, a thorough market analysis is crucial to understanding its potential impact. This analysis encompasses the identification of target market segments, assessment of competition, and exploration of potential growth opportunities.

Identification of demographic groups that may benefit from the partnership:

Firstly, it’s essential to recognize demographic groups that could reap significant benefits from this alliance. The retirement industry is ever-evolving, and an understanding of the demographics most likely to be interested in digital retirement solutions will help position the partnership for success. For instance, baby boomers approaching retirement age and tech-savvy millennials are two prime demographics that could be targeted.

Comparison to competitors in the digital retirement space:

Next, a comparison of our partnership to competitors in the digital retirement space is necessary. Some of the most prominent players include Vanguard and Fidelity. By evaluating their offerings, strengths, and weaknesses, we can position our partnership effectively to capture market share.

Industry expert opinions on the partnership’s significance:

Gaining insights from retirement industry analysts and consultants is essential to assessing the partnership’s potential impact. Their perspectives on market trends, competitive dynamics, and growth opportunities can provide valuable guidance as we navigate this collaboration.

Insights from retirement industry analysts and consultants:

“The partnership between Company A and Company B represents a significant shift in the digital retirement space,” says Jane Doe, a prominent retirement industry analyst. “With Company A’s expertise in technology and Company B’s strong brand reputation in the retirement sector, this alliance could challenge the dominance of current industry leaders.”

Opinions from financial advisors and retirement plan sponsors:

Collaborating with financial advisors and retirement plan sponsors is vital for a successful partnership. Their input can help fine-tune offerings, address industry concerns, and build a solid foundation for long-term growth.

Conclusion

In summary, the strategic partnership between PGIM and iJoin brings about significant benefits for both parties. For PGIM, this collaboration enhances its RetireWell™ Managed Accounts offering by integrating iJoin’s advanced digital retirement platform. With iJoin’s capabilities, PGIM aims to provide a more personalized and user-friendly experience to its clients. On the other hand, iJoin gains access to PGIM’s expertise in investment management and retirement solutions, which will enable them to offer more comprehensive services to their clients.

Impact on the Retirement Industry Landscape

This partnership is anticipated to have a profound impact on the retirement industry landscape. The integration of PGIM’s investment management capabilities with iJoin’s digital platform can lead to enhancements in the user experience and (italic) better retirement planning tools for individuals. Furthermore, the collaboration could potentially pave the way for

future developments in the retirement industry

, such as more personalized investment options and streamlined account management.

PGIM’s RetireWell™ Managed Accounts Offering

With iJoin’s advanced digital capabilities, PGIM’s RetireWell™ Managed Accounts can be improved and tailored to the unique needs of each client. By integrating iJoin’s technology, PGIM aims to provide a more personalized experience and better retirement planning tools, which will help in

enhancing participant engagement and overall satisfaction

.

iJoin’s Digital Retirement Platform

For iJoin, this collaboration marks a significant step forward in enhancing their digital retirement platform. By integrating PGIM’s investment management capabilities, they will be able to offer more comprehensive services and better value proposition to their clients. This partnership also provides iJoin with an opportunity to expand its reach in the market and attract new clients.

Final Thoughts

The strategic partnership between PGIM and iJoin is an important step forward in the retirement industry, bringing together investment management expertise and advanced digital capabilities. Both companies stand to benefit significantly from this collaboration, as they aim to provide better services and value to their clients. In the broader retirement industry context, this partnership could potentially lead to new innovations in retirement solutions and digital capabilities. With a focus on enhancing user experience, personalization, and retirement planning tools, this partnership represents an exciting development for both companies and the industry as a whole.