This publication carries latest news on product and service offerings in the North America wealth management industry.

Boston, MA-headquartered John Hancock Investments has employed the services of digital advice platform firm NextCapital to automate its 401(k) and Individual Retirement Account rollover business, according to media reports.

The partnership between the firms was announced earlier this week, reports said. This publication has contacted John Hancock Investments seeking details and may update in due course.

A report said the partnership will be rolled out to 2.7 million users of John Hancock Retirement Plan Services over the next year.

These are the kind of arrangements being driven by the new Department of Labor Fiduciary Rule, which is having the effect of encouraging advisors to increasingly charge for advice rather than be paid commissions on sales. A report quoted the firm as saying market forces and developments in technology are encouraging changes in how such firms operate as much as the DOL rule.

Separately this week, the company announced the start of a national TV advertising campaign to communicate its multimanager approach to investing. 

Among recent developments, in May last year John Hancock Investments Boston said it was expanding to Tempe, AZ. The office serves serve as an additional hub for sales and service support operations.