NORWOOD, Mass.--(BUSINESS WIRE)--Mercer’s Outsourcing business (http://tiny.cc/tey1b) announced today that it has added three new industry-leading services to its benefits administration platform: Financial Engines’ Income+ solution, HelloWallet’s financial planning and budgeting solution and TD Ameritrade’s self-directed brokerage account solution. These additions exemplify Mercer’s ongoing commitment and investment in technology and targeted solutions that help participants make smarter decisions, take action and better engage with an employer’s retirement and benefits program. Terms of the agreements were not disclosed.
“More and more, our clients are looking for us to help them empower their employees to live, work and retire well,” said Dave Tolve, Retirement Business Leader for Mercer’s US Outsourcing business. “By utilizing these cutting-edge products and services as part of their overall benefits experience, participants can feel more confident, capable and in control of their financial future and wellbeing, which leads to plan sponsors having a more engaged workforce.”
An extension of its professional management/managed account services, Financial Engines’ Income+ helps participants with the retirement spend-down phase by: providing steady monthly payouts that can last for life (with purchase of out-of-plan annuity); offering an alternative to an in-plan annuity, as it works with the plan’s existing investment options; and providing professional allocation advice for the payout phase.
HelloWallet is an online resource that helps employees improve their overall household finances by “finding the money” to boost their contributions to retirement savings and reduce debt. It empowers users to create budgets, set savings goals, aggregate financial account data and monitor their spending habits.
Through TD Ameritrade’s self-directed brokerage accounts, participants on Mercer’s platform will have easy access to a broad range of investment choices including stocks, ETFs mutual funds and fixed income products. Participants can also access independent research, market analysis and investment screening capabilities.
These three new features will be integrated into Mercer’s online participant experience and accessible through plan websites.
“These enhanced services reflect our commitment to the overall ‘participant experience,’ a critical component of any benefits administration solution,” said Mr. Tolve. “We also view this as another way our value proposition in the marketplace continues to extend beyond core benefits administration to include how employees view, appreciate and optimize the benefits offered by their employer.”
About Mercer
Mercer is a global leader in human resource consulting, outsourcing and investment services. Mercer works with clients to solve their most complex benefit and human capital issues by designing, implementing and administering health, retirement and other benefit programs. Mercer’s investment services include investment consulting, implemented consulting and multi-manager investment management. Mercer’s 20,000 employees are based in more than 40 countries. The company is a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York and Chicago stock exchanges. For more information, visit www.mercer.com.
Financial Engines Inc., HelloWallet and TD Ameritrade are not affiliated with Mercer HR Services, LLC or MMC Securities Corp. Brokerage services provided by TD Ameritrade, Inc., member FINRA/SIPC/NFA. Financial Engines does not guarantee future results.