In a move that signals a significant leap forward for the retirement industry, John Hancock Retirement has launched FutureStep™, an innovative open-architecture retirement plan solution powered by Vestwell’s cutting-edge technology. Set to debut in early 2025, this new offering has the potential to reshape how advisors, employers, and plan participants interact with their retirement plans, according to a recent press release from John Hancock Retirement.
For retirement plan advisors looking to scale their practices efficiently, FutureStep delivers a streamlined digital experience that simplifies plan management while maintaining the high-touch service they’ve come to expect from John Hancock. The platform features an intuitive interface that connects advisor, employer, and participant portals, creating a seamless ecosystem for plan administration.
Third-party administrators (TPAs) and plan sponsors will benefit from competitive pricing and enhanced employer engagement opportunities. The solution includes support for personalized onboarding, ongoing administration and maintenance, robust payroll integration options, and assistance in navigating complex legislation.
“This is an exciting time for us, and we could not be more pleased to partner with Vestwell to help bring retirement planning to more employers who are helping their employees prioritize retirement,” said Wayne Park, CEO, John Hancock Retirement. “As a multiplatform provider, we’ve added FutureStep so we can continue to expand the number of plans and participants that we serve, as a complement to our existing plan options.”
The partnership between John Hancock Retirement and Vestwell brings together two retirement industry powerhouses. “We’re focused on being the partner of choice for our distribution partners, TPAs, and plan sponsors by helping to make retirement planning easier and more effective,” said Gary Tankersley, Head of the Core Segment, John Hancock Retirement. “FutureStep demonstrates our focus on continuous improvement and the innovation of our offerings to meet the evolving needs of our clients. We look forward to sharing more on FutureStep in 2025 and have confidence that it will bring more plans to more Americans and serve retirement advisors who are looking for an outcome-driven digital solution.”
“John Hancock Retirement has been a leader in the savings industry for decades. We share a commitment to providing exceptional service and innovative solutions to our clients, helping to bridge the access gap and promote savings for everyone,” said Aaron Schumm, Founder and CEO of workplace savings technology solutions provider Vestwell. “Together with John Hancock Retirement, we can help address the growing demands of the industry, creating modern savings solutions that make retirement savings more affordable and accessible for all. Through cutting-edge solutions and an unwavering commitment to affordability and inclusivity, we aim to give individuals from all walks of life help to secure a brighter financial future.”
The FutureStep launch is part of John Hancock Retirement’s broader transformation strategy to modernize its retirement plan ecosystem through new offerings and enhanced digital experiences. By combining John Hancock’s decades of industry expertise with Vestwell’s technological prowess, FutureStep aims to expand retirement plan access while simplifying administration.
