MassMutual joins the race for a share of the 401k market
MassMutual Retirement Services is teaming up with Envestnet Retirement Solutions to launch a managed-account service for the defined-contribution market. The RetireSmart Ready Managed Path will compete with around 10 other established managed-account providers, including Financial Engines, which revealed earlier this week that it planned to add human interaction to its robo-platform. Interest in the sector has been highlighted in recent months by a number of startup firms established to service 401k plans and, more recently leading robo-advisor Betterment, announcing that it was entering the space.

The policies of most interest to financial advisors, such as expiring estate tax breaks, could come up later in the year in negotiations over a bipartisan bill.