Morgan Stanley to Distribute John Hancock Retirement Plans
November 2, 2008
John Hancock Retirement Plan Services has reached a distribution agreement with Morgan Stanley that will significantly increase the number of advisors selling its 401(k) plans.
Under the agreement, 8,500 Morgan Stanley financial advisors will be able to offer John Hancock 401(k) plans, including John Hancock’s JH Signature line and defined contribution plans with the Guaranteed Income for Life feature. Morgan Stanley Global Wealth Management Group manages over $700 billion in client assets.
“In this highly competitive market, we are very pleased to be expanding our ability to reach business owners, especially through such a well-regarded firm as Morgan Stanley,” said Art Creel, executive vice president, sales and marketing, John Hancock RPS.
“With this agreement, there will be thousands more advisors with access to one of the market-leading retirement plan service providers. We’ve got more reach, and they’ve got access to a top product,” Creel said.
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