Plan sponsors and participants served by John Hancock Retirement Plan Services (JHRPS) who have contracted with LPL Financial to use its Employee Advice Solution will receive administrative support from JHRPS, it was announced this week.
Launched by LPL in 2014, the EAS tool can deliver personalized participant advice through an online service that collects financial information about a participant. Participants can use that option—all the way through retirement, if they wish—or managed their accounts on their own, JHRPS said in a release.
EAS is part of LPL’s Worksite Financial Solutions, a website platform that provides financial education and planning tools. Participants can engage with a financial advisor either face-to-face, online, or over the phone. The platform is integrated with LPL’s reporting and monitoring tools for plan advisors.
“JHRPS provides a daily participant-level data feed when requested by plan sponsors, enabling LPL advisors to provide tailored financial advice and facilitate a closer relationship between advisors and plan participants,” the release said.
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