ProManage PROgram™

Prioritize their future with Managed Accounts

Many employees rely on their employee benefit plans to help them prepare for retirement. With the right tools and guidance, you can make it easier for employees to impact their financial future. The ProManage PROgram™ brings the power of managed accounts to your competitive employee benefits package.

What are managed retirement accounts?

Choosing the right allocation for retirement savings accounts can be intimidating. For participants in defined contribution plans who don’t have the time or knowledge to make their own investment decisions, managed accounts do it for them.

Why choose the PROgram?

The PROgram puts our decades of experience to work for your employees, providing investing help that’s simple to implement and easy to use.

Hands off for employees

Our algorithm considers up to 10 unique metrics to create an allocation for each employee. Then it allocates, rebalances, and adjusts to changing circumstances without needing any further input from the participant.

Plan health check

We’ll work with you to understand how many of your employees are on track for retirement. Then we’ll show you how the PROgram could make a difference by mapping out our recommended approach and the potential outcomes.

Getting started is easy

Implementing the PROgram with your recordkeeper doesn’t require complex or expensive technical connections. And the relationships we’ve built with major recordkeepers can make the transition even easier.

Tailored to your organization

We customize our approach to your organization’s goals, demographics, and retirement benefits program—including pension plans—so we can target an appropriate level of financial risk.

Transparent pricing and fees

By using an automated algorithm to make allocations, we can keep our fees lower than most financial advisers. We are independent and spell out every fee we charge.

Committed to participants’ privacy

We don’t have access to your employees’ login IDs or passwords—protecting their personal and financial data is as important to us as it is to you.

If you’d like to learn more, just send us a note or give us a call.

How do managed accounts stack up?

Investing for the long term is about more than how much is saved. To help reach their financial goals for retirement, employees need to minimize fees and maximize the growth power of every dollar.

Managed Accounts

vs.

Self Directed

Self-directed retirement accounts are a good option for investors who understand how to select funds for a balanced portfolio, know when to rebalance, and aren’t afraid to weather big swings in the market. The PROgram’s algorithm builds a balanced portfolio and adjusts it based on changes in the participant’s circumstances over time—without the need for further input from the employee.

Managed Accounts

vs.

Target Date Funds

Target date funds are focused on one metric: the year the participant plans to retire. They adjust their allocation—and therefore their amount of risk—as that benchmark year approaches. The PROgram’s managed accounts consider the participant’s expected retirement date, plus additional metrics, to make a customized allocation plan that shifts with their situation.

Managed Accounts

vs.

Index Funds

Index funds are passively managed with the intention of mirroring the performance of that stock index. Our managed accounts can include index funds, along with many other funds, in participants’ portfolios. The PROgram uses an algorithm to combine funds in a portfolio that aligns with the participant’s financial risk profile.

Managed Accounts

vs.

Mutual Funds

Mutual funds pool money from all their investors to create a portfolio of stocks. They are managed by the investment company that created them. Retirement accounts managed through the PROgram can include mutual funds as part of the portfolios designed for participants.

Managed Accounts

vs.

Balanced Funds

Balanced funds, also called hybrid funds or blended funds, rely on a fixed allocation of stocks and bonds to create a diversified portfolio. Balanced funds are often categorized by risk, with “conservative” balanced funds allocating more toward bonds and “aggressive” funds investing more heavily in stocks. ProManage’s managed accounts adjust the risk level in each participant’s portfolio in response to changes in the participant’s circumstances, with the goal of optimizing their allocation at every life stage.

Managed Accounts

vs.

Financial Adviser

“Financial adviser” often serves as a catchall term for anyone who can provide financial advice. This is a person or company who charges a fee, typically ranging from .5% to 2% per year, to allocate investments on behalf of an investor. ProManage’s PROgram uses a sophisticated algorithm to allocate investments and typically charges less. Plus, ProManage doesn’t require a minimum account balance to qualify for our service, unlike some financial advisers.

The PROgram pairs seamlessly with all types of defined contribution plans, including:

401k

403b

457

Have questions? We have answers.

Is our organization the right size for this service?

First and foremost, we love to work with organizations that have a people-first mission. While we don’t have one “right size” organization, we typically work with organizations that have from $15 million to more than $3 billion dollars in their retirement accounts.

How do I know this would work for my team?

We don’t expect you to have all the answers. That’s why we perform a plan health check so your organization can see potential recommendations or outcomes that ProManage can provide. If you’d like to learn more, contact us.

We have a pension plan/company stock program/etc. Would PROgram work for us?

Yes! We customize our approach to your organization’s goals, demographics, and retirement benefits program—including pension plans—so we can target an appropriate level of financial risk for each participant.

What are the benefits of having a managed account as QDIA?

The PROgram is designed to help those who don’t feel interested or confident enough to determine their own allocation, so implementing it as an opt-out instead of an opt-in allows us to support more of those disengaged participants.

Can a spouse include their info in the PROgram?

Yes. We want to help you see the whole picture when it comes to your financial future. A participant can have their spouse’s information included in their PROgram allocation calculation by entering it in Vision.

Does the PROgram use actively or passively managed funds?

Depending on the specific investment funds offered in your plan’s lineup, we can use either an active or passive fund in a given asset category. Although, we generally prefer passive funds due to their lower cost.

How do we know it’s working?

We offer detailed information on the effectiveness of benefits packages and access to Retirement Readiness Statements to track progress. Learn more on our Insights page.

What happens if we change record keepers?

If we already work with the new record keeper, we can be a seamless part of the transition. If we do not, we will explore with them the best approach for transitioning to their platform. Some of our clients who have changed record keepers have made retaining our service one of the criteria for selecting their new provider.

Can participants adjust their allocation once enrolled?

PROgram participants have the ability to make modifications to their allocations as they see fit. They can do this by using Vision. Since we retain fiduciary responsibility for the outcomes, we put guardrails on the degree to which they can change the allocations that we determine for them.

What happens once a participant retires?

The PROgram stays with participants even after they retire. That means they can continue investing through the PROgram for as long as they’d like.

What types of accounts can be managed through the PROgram?

There are many types of accounts that can be managed through the PROgram, some examples are 403b, 401k, and 457. If you have a unique situation, we’d be happy to work with you.

How do you choose the funds?

ProManage diversifies participants’ account balances across the investment options available in your plan, creating allocations designed to deliver the broad investment market to your participants. We are independent; we do not sell or market our own or anyone else’s investment funds.

How do participants check their account balance(s)?

They can sign into their plan recordkeeper’s website to see where they stand.

See More FAQs

Interested in learning more?

We think our solutions can make a difference in the lives of real people, and we’d love to help you make that happen for your employees. Reach out; we’re always up for a good conversation.