Banco Popular, Future Capital join to enhance retirement solutions
Banco Popular de Puerto Rico announced it will leverage WealthTech solution firm Future Capital’s digital tools, customized 401(k) managed account solutions and personalized guidance services with its advisers, plan sponsors and plan participants across Puerto Rico and the United States.
This partnership will offer state-of-the-art technology and personalized managed account solutions to clients, the firms stated. These resources aim to help Popular’s more than 60,000 plan participants align their financial objectives and effectively navigate the complexities of wealth accumulation and retirement planning.
“We’re very proud of this collaboration with Future Capital, which allows us to harness their advanced technology to provide our clients with a more seamless and efficient retirement planning experience. With this alliance, we continue to put our clients at the center of progress,” said Francisco Pericás, senior vice president of Popular’s Fiduciary Services Division.
This strategic collaboration includes a range of initiatives:
Customized 401(k) managed account solutions — Future Capital offers Popular with a comprehensive managed account solution, including asset allocation and fund selection services, as well as ongoing portfolio optimization according to participant goals, circumstances and investment strategy.
Fiduciary responsibilities — Operating as a participant-level 3(38) fiduciary, Future Capital curates and optimizes diversified portfolios for each participant, drawing from the funds available in the retirement plan.
Financial wellness — Future Capital is dedicated to helping participants build a better financial future by offering unlimited access to its proprietary Retirement Planning Tool, a personal online dashboard and unlimited access to professional retirement specialists for educational support.
Additionally, Future Capital will implement the portfolio on the participant’s behalf, guided by the investment strategy recommendation generated through the Retirement Planning Tool.
“We’re thrilled to embark on this collaborative journey alongside Banco Popular de Puerto Rico,” said Jay Jumper, Future Capital’s CEO. “This collaboration leverages the collective strength of our organizations to address the financial requirements of business owners and their employees. In unison, our commitment lies in presenting innovative solutions that empower and guide participants towards realizing their financial goals.”
