401(k) Specialist Issue 1 - 2021 - 29
401(k) PRODUCT WATCH
Fintech Launches Financial Literacy
Platform for Kids
THE NEED FOR financial education at younger ages is by now
well-documented, and certain states-Rhode Island for instance-
have developed curriculums for public schools to incorporate
money matters into their teaching.
For parents that want to do more at home, Greenlight Financial
Technology, a fintech company " on a mission to help parents raise
financially-smart kids, " announced Greenlight Max, what it says is
the first educational investing platform designed for kids.
In 2017, the company launched a parent-managed debit card
and app for kids to teach money management skills and now
claims to serve more than 2 million parents and kids, who have
collectively saved $90 million. With the launch of Greenlight Max,
the company is " now shining a light on the world of investing for
parents and kids alike. "
The difference in the amount of retirement assets for
a worker who begins saving at age 25 versus age 35 is
roughly $1 million, so anything earlier can only help.
ONLINE
EXTRA
Lincoln Financial Adds Advisor Managed
Accounts Service
LINCOLN FINANCIAL GROUP has added an Advisor Managed
Accounts service, which gives a retirement plan's registered investment
advisor (RIA) the ability to create the underlying plan-specific
investment portfolios and leverage the proprietary portfolio assignment
process from Morningstar Investment Management LLC.
These personalized investment programs, introduced on Jan. 11
and offered through the Lincoln Alliance program, enable the RIA to
use information about each plan participant-such as age and plan
balance-to create the portfolios used by the program.
" The Advisor Managed Accounts service complements and
builds on our suite of custom asset allocation products, such as
YourPath, " said Ralph Ferraro, Senior Vice President, Retirement
Plan Products and Solutions, at Radnor, Pa.-based Lincoln Financial
Group. " All participants are different, and financial professionals
and plan sponsors are looking for innovative products they can
further personalize to help their participants reach their individual
retirement goals. "
Currently, more than half of plan sponsors include a managed
account option in their plans (according to Cerulli Associates research),
and this number is likely to increase, as research shows that
these services have the potential to help participants save more for
retirement.
ISSUE 1 2021 | 401kSpecialist.com
27
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401(k) Specialist Issue 1 - 2021
Table of Contents for the Digital Edition of 401(k) Specialist Issue 1 - 2021
Table of Contents
401(k) Specialist Issue 1 - 2021 - Cover1
401(k) Specialist Issue 1 - 2021 - Table of Contents
401(k) Specialist Issue 1 - 2021 - 1
401(k) Specialist Issue 1 - 2021 - 2
401(k) Specialist Issue 1 - 2021 - 3
401(k) Specialist Issue 1 - 2021 - 4
401(k) Specialist Issue 1 - 2021 - 5
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401(k) Specialist Issue 1 - 2021 - 46
401(k) Specialist Issue 1 - 2021 - Cover3
401(k) Specialist Issue 1 - 2021 - Cover4
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