Capital Group is making its ICanRetire employee engagement solution available for financial advisors to offer to small-business owners alongside its 401(k) plan solutions, PlanPremier and RecordkeeperDirect.
ICanRetire was developed to help improve retirement plan engagement among small-business workers, a group that has traditionally lagged behind their peers at midsize and large employers with respect to participation and savings levels.
The engagement solution can be offered alongside PlanPremier, a 401(k) plan solution with bundled plan administration or the option to collaborate with a third-party administrator, as well as access to American Funds and other investment managers. It can also be paired with RecordkeeperDirect, a 401(k) plan solution designed for startups and smaller businesses with the flexibility to select a third-party administrator.
The ICanRetire program can complement either offering to help improve participant outcomes and increase contributions at no additional cost to the financial advisor or the small business owner, according to the announcement.
“Retirement planning is a huge market opportunity, and we want to be able to partner with financial advisors to make that achievable within their practices,” Dana McCollum, president of retirement plan services at Capital Group, said in a statement. “Simplifying the process is key — both advisors and participants want an easy button.”
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