Feb 28, 2025

Product & Service Launches Newfront Insurance and Pave partner to simply employee benefits; Apollo, State Street private-debt to release new ETF; Betterment Adviser Solutions launches solo 401(k)s; and more. Reported by Newfront, Pave Announce Partnership to Simplify Employee Benefits Newfront Insurance Services LLC, the insurance brokerage firm, and Pave, the compensation benchmarking and management platform, announced a partnership to improve how companies approach employee benefits and compensation. Key benefits include: Comprehensive advisory networks: Clients have access to consultants and experts who can assist with total rewards strategies. Preferred pricing: Customers of both Newfront and Pave will have access to exclusive discounts within each respective customer ecosystem. Apollo, State Street Prepare to Launch ETF State Street Corp. and Apollo Global Management Inc. are preparing to launch a new exchange-traded fund. The SPDR SSGA Apollo IG Public & Private Credit ETF, set to trade under the ticker PRIV, is moving closer to its debut, as indicated by a recent regulatory filing and details on the New York Stock Exchange’s website. Regulatory filings show that private credit will comprise between 10% and 35% of the fund’s portfolio, while illiquid investments will be limited to 15%, as required by regulations. The actively managed ETF will have a 0.70% expense ratio. Betterment Adviser Solutions Launches Solo 401(k)s Betterment Adviser Solutions, a custodian for registered investment advisers, announced the launch of an all-digital solo 401(k), designed for independent advisers and their self-employed clients. Betterment’s solo 401(k) is built upon its existing recordkeeping system that powers Betterment at Work. With its new solo 401(k) offering, Betterment Adviser Solutions aims to solve this issue by providing a full-scale, digital experience for both advisers and clients. The solo 401(k): Offers both Roth and traditional tax strategies. LPL Financial Selects SS&C to Support Retail Alternatives Business SS&C Technologies Holdings Inc. announced that LPL Financial Holdings Inc., a provider of investment and business strategies for financial advisers, has broadened its relationship with SS&C Technologies. LPL Financial, which uses SS&C’s Brokerage Solutions, will leverage SS&C Altserve to grow its alternatives business. “LPL has launched LPL Alts Connect to enhance the overall alternative investment experience, broaden our available investment suite and enhance education and awareness across our adviser base,” Cheri Belski, executive vice president and head of investment management solutions at LPL, said in a statement. Human Interest Sets New Standard for Customer Experience Human Interest announced the Customer Experience Guarantee will go into effect on March 1. By terms of the guarantee, if certain standards are not met, Human Interest will provide administrators 50% off their next invoice. Participants will be eligible for a $25 gift card. The standards include: All of an administrator’s inquiries submitted through the Human Interest Support Center will receive a nonautomated response within four business hours; All of a plan’s contributions will be processed within five business days of running payroll; All of a participant’s distributions will be sent to their bank account within two business days; All of a participant’s calls during business hours will be answered within five minutes; and All of a participant’s initial inquiries submitted through the Human Interest Support Center will receive a nonautomated response within four business hours. “We’ve received extremely positive feedback from financial advisers so far about our industry-leading 401(k) Customer Experience Guarantee,” said Rakesh Mahajan, Human Interest’s chief revenue officer, in a statement. “Advisers want to provide their clients with an exceptional service experience.” Tags