Future Capital and Banco Popular de Puerto Rico Join Forces to Enhance Retirement Solutions

Rhea-AI Summary

Popular partners with Future Capital to leverage advanced retirement technology and personalized guidance services for plan participants in Puerto Rico and the United States.

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• Future Capital provides customized 401(k) managed account solutions and personalized guidance services to Popular's 60,000 plan participants.
• Future Capital operates as a participant-level 3(38) fiduciary, curating and optimizing portfolios for each participant.
• Future Capital offers unlimited access to Retirement Planning Tool and professional retirement specialists for educational support.

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Empowering Advisors and Participants through Cutting-Edge Retirement Technology, Customized Solutions, and Personalized Guidance

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- Future Capital, a leading WealthTech solution specializing in personalized services for workplace retirement plan participants, and Banco Popular de Puerto Rico (“Popular”), a prominent and trusted financial institution based in San Juan, Puerto Rico, are thrilled to announce that Popular will leverage Future Capital’s advanced digital tools, customized 401(k) managed account solutions, and personalized guidance services with their advisors, plan sponsors, and plan participants across Puerto Rico and the United States.

This partnership exemplifies a shared dedication to providing state-of-the-art technology and personalized managed account solutions. These resources aim to assist Popular’s over 60,000 plan participants in aligning their financial objectives and effectively navigating the complexities of wealth accumulation and retirement planning.

This strategic collaboration encompasses a range of initiatives, including:

Customized 401(k) Managed Account Solutions - Future Capital provides Popular with a comprehensive managed account solution, encompassing asset allocation and fund selection services, as well as ongoing portfolio optimization according to participant goals, circumstances, and investment strategy.

Fiduciary Responsibilities - Operating as a participant-level 3(38) fiduciary, Future Capital curates and optimizes diversified portfolios for each participant, drawing from the funds available in the retirement plan.

Financial Wellness - Future Capital is committed to aiding participants build a better financial future by offering unlimited access to its proprietary Retirement Planning Tool, a personal online dashboard, and unlimited access to professional retirement specialists for educational support.

Additionally, Future Capital will implement the portfolio on the participant’s behalf, guided by the investment strategy recommendation generated through the Retirement Planning Tool.

"We are thrilled to embark on this collaborative journey alongside Banco Popular de Puerto Rico," expressed Jay Jumper, Future Capital Founder and CEO. "This collaboration leverages the collective strength of our organizations to address the financial requirements of business owners and their employees. In unison, our commitment lies in presenting innovative solutions that empower and guide participants towards realizing their financial goals."

“We are very proud of this collaboration with Future Capital, which allows us to harness their advanced technology to provide our clients with a more seamless and efficient retirement planning experience. With this alliance, we continue to put our clients at the center of progress,” said Francisco Pericás, Senior Vice President, Popular Fiduciary Services Division.

About Future Capital

Future Capital is an industry-leading WealthTech firm with a superior 20-year track record of empowering advisors and investors with advanced digital tools, customized 401(k) managed account solutions, and essential personalized guidance to make well-informed decisions regarding their retirement assets. With a comprehensive range of retirement solutions, we serve as a trusted partner for stakeholders across the retirement value chain, from broker-dealers, advisors, and recordkeepers, to advisors, plan sponsors, and plan participants. For more information about our industry-leading solutions, please visit www.FutureCapital.com.

About Popular, Inc.

Popular, Inc. (NASDAQ: BPOP) is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230906256660/en/

Media Contact

Anthony Sims

VP of Marketing

423.999.2712

asims@futurecapital.com

Source: Future Capital