“There’s a general awakening of the value of engaging participants early in the process within 401(k) plans,” noted NextCapital co-founder Rob Foregger, who was also a co-founder of Personal Capital. “The heart of the Empower acquisition is the convergence of wealth and retirement, with $1.5 trillion of money in motion in DC plans every year through rollovers and new contributions.”
Indeed, as Rob Foregger, co-founder of Next Capital, recently told PLANADVISER, the Folio acquisition is far from the first to be made in recent years by Goldman Sachs in the area of financial services technology. He said he sees Goldman Sachs’ technology acquisition and innovation strategy as 'part of one of the biggest but somewhat overlooked financial news stories going on right now.'
By leveraging NextCapital’s technology, MassMutual can provide customized solutions for different firms. These firms can include their own investment selections, choose varying levels of advisory interaction and choose their fiduciary role.