- Partnership streamlines investment options, offers personalized approach for investment options
- Innovative digital platform aims to engage savers, increase savings, enhance communication
GREENWOOD VILLAGE, CO, May 24, 2022 – Empower, a leading retirement plan provider, and Rockefeller Capital Management (“Rockefeller”), a leading independent financial advisory and services firm, are partnering to offer the next evolution in retirement investing with innovative technology, a diverse menu of expertly managed investment options, and fiduciary protection.
The joint offering, called Rockefeller Capital Management (RCM) Retirement Plan Fiduciary Manager, combines the expertise of Empower and Rockefeller to deliver employers a simplified retirement plan offering to support their retirement plan benefit needs, plan fiduciary responsibilities and help drive employee retirement savings. Empower helps more than 17 million people1 with saving and investing by providing the tools and resources they need to help reach their financial goals and Rockefeller, through its Retirement business, offers individual and group retirement solutions via private wealth management and family office advisors.
The RCM Retirement Plan Fiduciary Manager offers employers a cost-effective opportunity to access the knowledge and experience of leading wealth managers and strategic advisors with a leading retirement plan provider. The solution aims to make it easy for employers to offer what employees want – a simplified digital platform that enables them to easily view, manage and optimize their financial plan. Savers can track, manage, and plan for all their financial priorities in one place.
“This partnership will deliver a cost-effective practical retirement solution created specifically for individual organizations,” said Edmund F. Murphy III, Empower President and CEO. “We are bringing together select features in one simple offering to give growing organizations more value and a user experience that engages their employees and helps them take positive action in their retirement planning.”
“The business owners our advisors serve have many priorities to balance, from navigating inflation and changing markets to improving employee retention,” added Gregory J. Fleming, President and Chief Executive Officer of Rockefeller Capital Management. “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.”
Through the RCM Retirement Plan Fiduciary Manager program, plan sponsors and all other plan fiduciaries add an extra layer of fiduciary protection by engaging Rockefeller as an ERISA (3(38)) investment manager to the plan.
By utilizing Empowerʼs capabilities, employees can access advice when they want and need it. The offering makes use of Empower’s participant communications strategies to help individuals take action under their plan. A key to the partnership is the value and flexibility Empower offers through its branded Empower Select solution with more than 7,000 investment funds, including over 2,000 zero-revenue fund options from some of the most recognized managers.
Headquartered in metro Denver, Empower administers approximately $1.4 trillion in assets1 for more than 17 million retirement plan participants and is the nation’s second-largest retirement plan recordkeeper by total participants.2 Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, mid-size and large corporate 401(k) clients; nonprofit 403 (b) entities; private-label recordkeeping clients; and IRA customers. Personal Capital, a subsidiary of Empower, is an industry-leading hybrid wealth manager. For more information please visit empower.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
About Rockefeller Capital Management
Rockefeller Capital Management was established in 2018 as a leading independent, privately-owned financial services firm. Originally founded in 1882 as the family office of John D. Rockefeller, the Firm has evolved to offer strategic advice to ultra-high-net-worth and high-net-worth individuals and families, institutions and corporations from 36 locations across the United States. Early in 2022, the Firm opened an office in London. As of March 31, 2021, the Firm was responsible for approximately $95 billion in client assets across its three business segments, the Rockefeller Global Family Office, which includes both the Private Wealth Management and Family Office businesses, Rockefeller Asset Management and Rockefeller Strategic Advisory.
For Empower Retirement:
Stephen Gawlik – 617-417-4408 – Stephen.Gawlik@empower.com
Monica Mendoza – 719-373-2460 –Monica.Mendoza@empower.com
For Rockefeller Capital Management:
Kelly Whalen – 857-301-9936 – firstname.lastname@example.org
To learn more about how we’re empowering plan sponsors and their participants to be more engaged in their retirement plans than ever before, call us at 800-719-9914.