Investment manager T. Rowe Price announced Thursday it is acquiring retirement planning software provider Retiree Inc., in a deal that is expected to close during the second quarter.
T. Rowe Price said Retiree’s software will bolster its existing capabilities to create a more comprehensive suite of retirement income solutions for investors and practitioner tools for financial professionals.
Terms of the deal were not disclosed.
“Combined with our investment capabilities, we believe Retiree, Inc.’s retirement income technology will help millions of Americans confidently prepare, save for, and live in retirement,” Dee Sawyer, head of retirement plan services and U.S. intermediaries at T. Rowe Price, said in a statement.
Sawyer added that she expects Retiree’s software will be an important part of the fund manager's strategy “to build personalized retirement income solutions and services for our clients.”
Retiree’s tax-aware income planning software enables clients to improve their ability to make decisions about drawing from a household’s accounts with different tax treatments, including Roth conversion strategies, with the goal of increasing the lifetime value of total after-tax income and and the bequest value.
“This acquisition provides T. Rowe Price the ability to meet this need at scale and more thoroughly deliver the strategies, tools and confidence millions of people need to live the retirement they envision,” said William Meyer, founder and CEO of Retiree Inc.
Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."
As the next generation of investors take their turn, advisors have to strike a fine balance between embracing new technology and building human connections.
Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.
The independent RIA's new hire, with a decade of M&A experience from his former firm and Raymond James, comes as SEIA logs record growth in 2024.
Bank of America gains strength in NY a veteran UHNW advisor while RayJay welcomes a three-decade industry veteran in Georgia.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
