John Hancock Retirement Launches Innovative FutureChoice Plan

Introducing FutureChoice by John Hancock Retirement

John Hancock Retirement, a significant unit of Manulife Wealth & Asset Management, has recently unveiled an exciting new suite of retirement plan solutions named FutureChoice. This development showcases the company’s commitment to adapting its offerings in alignment with advisor feedback and administrative insights. FutureChoice brings forth a range of open-architecture retirement plans which can be seamlessly customized by financial professionals to meet the diverse needs of their clients.

The Power of Advisor-Centric Solutions

Designed with direct contributions from advisors and third-party administrators (TPAs), the FutureChoice suite includes both bundled and unbundled corporate plans, alongside special options tailored for Taft-Hartley and multiplan structures. By drawing from the practical experience of these financial experts, John Hancock Retirement aims to enhance the service experience for advisors and their clients alike.

Innovative Technologies at the Core

Wayne Park, the CEO of John Hancock Retirement, expressed excitement about FutureChoice, stating that it aligns perfectly with the company's strategic vision to innovate the retirement landscape. This new suite is embedded with cutting-edge technology, including artificial intelligence, ensuring that plans are not only comprehensive but also foresighted, providing vital insights and functionalities aimed at enhancing customer value.

Commitment to Modernization in Retirement Planning

John Hancock Retirement stands firm in its mission to be the partner of choice for advisors and TPAs. With the launch of FutureChoice, the organization continues its multi-year strategy to modernize its retirement ecosystem. The suite's advanced digital capabilities are crafted to empower all participants in achieving their retirement goals more efficiently.

A Broader Retirement Product Portfolio

Earlier this year, the company introduced FutureStep™, an innovative solution designed expressly for small businesses. This initiative further underscores John Hancock's position as a leading provider in the retirement space. FutureChoice exemplifies the expansion of their product offerings, merging cutting-edge technology with a customer-first approach.

Transformative Collaboration for Enhanced Experiences

The development of FutureChoice involved collaboration with external partners focused on creating human-centered design experiences. This results in purposefully engineered, end-to-end customer journeys that prioritize a digital-first approach. The finalized product features core recordkeeping solutions and streamlined processes for client onboarding and participant access.

Growth and Evolution of the Brand

Additionally, John Hancock Retirement is set to rebrand as Manulife John Hancock Retirement starting in April. This transformation reflects the powerful union of its global parent company, Manulife, with the specific offerings of the John Hancock U.S. retirement sector. This strategic rebranding aims to enhance the company's impact as a leading retirement plan provider globally, helping millions to save and invest confidently in their futures.

About Manulife and John Hancock

Manulife Financial Corporation is recognized as a fundamental player in international financial services, simplifying decision-making processes for clients while enriching their lives. With operations under the Manulife brand in various regions and John Hancock in the United States, the corporation provides broad financial advice, insurance, and wealth management solutions. With a workforce exceeding 37,000 employees and well over 36 million satisfied customers, the company is devoted to facilitating seamless financial management.

Continued Support for Retirement Planning

In its relentless pursuit to support retirement needs, John Hancock Retirement collaborates with sponsors, advisors, and administrators to customize plans that resonate with each participant's unique journey. Their hands-on consultative approach ensures that no two retirement strategies are the same, focusing on personalized solutions that yield measurable results.

Frequently Asked Questions

What is FutureChoice?

FutureChoice is a new suite of open-architecture retirement plan solutions introduced by John Hancock Retirement, designed to enhance the planning experience for advisors and their clients.

How does FutureChoice cater to advisors?

The suite was developed with direct feedback from advisors and TPAs to ensure that the solutions meet their unique needs and provide customizable options for clients.

What technologies are integrated within FutureChoice?

FutureChoice incorporates cutting-edge technologies, including AI, to enhance user experience, delivering valuable insights and functionalities in retirement planning.

What are the plans for the John Hancock brand?

John Hancock Retirement is set to undergo a rebranding to Manulife John Hancock Retirement, reinforcing the alignment with its global parent company while showcasing its strong retirement capabilities.

What commitment does John Hancock have towards retirement planning?

John Hancock Retirement is dedicated to modernizing its ecosystem through innovations like FutureChoice, aiming to be a partner of choice for advisors and plan sponsors while providing robust support for clients.

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