Benefits product roundup: Annexus, Franklin Templeton, Lafayette Square, Medisafe, Nuveen

This roundup of employee benefits and retirement solutions is a bit more eclectic than usual. It ranges from wellness devices to investment funds to mental health services, and more.

Soovu Labs announced Soovu Wearable Pain Relief, a “therable” (wearable medical device and app) to treat chronic pain, to launch in fall 2021. Researchers and cofounders Dr. Chuck Chabal and Dr. Peter Dunbar developed this drug-free, wearable after discovering that pulsing high levels of heat on the skin desensitized the “TRPV1″ receptor, providing pain relief.

Securian Financial, in collaboration with BenefitEd, is making a suite of education benefits available to its workplace retirement plan customers. The benefits include employer-assisted student loan repayment, college savings, and tuition reimbursement.

Nuveen expanded its target-date fund solutions with the addition of the Nuveen TIAA Lifecycle Index CIT series. The series consists of 13 funds, including 12 target-date funds at five-year intervals for retirement dates 2010 through 2065 and a retirement income fund.

MyHealthMath announced a health benefits equity audit aimed at helping employers optimize their benefit design to promote diversity, equity, and inclusion. The health benefits equity audit compares relative health care cost (as a percentage of income) across employee demographics.

Medisafe has teamed up with Pleio to launch the GoodStart program. Pleio’s concierge service uses mentors to acclimate patients to their prescription therapy via live phone calls and digital nudges. Over time, the program transitions engaged patients to Medisafe’s digital drug companion for a longer-term medication management resource.

Lincoln Financial Group announced it has added an advisor managed accounts service, which aims to give a retirement plan RIA the ability to create underlying plan-specific investment portfolios and leverage the proprietary portfolio assignment process from Morningstar Investment Management.

The launch of Lafayette Square Holding Company, an impact-driven, minority-owned investment platform has been announced by founder and CEO Damien Dwin.  Morgan Stanley has provided $100 million of financing to launch the firm, which is minority-owned with employees owning over 90% of its equity. Other equityholders include the Capricorn Investment Group’s Sustainable Investors Fund and Schusterman Family Investments.

Independence Dental, an integrated dental services organization (DSO) has been launched by The Firmament Group, a provider of tailored debt and equity capital solutions. It aims to support the consolidation of dental clinics, providing non-medical services including financial management, HR, and regulatory compliance to the platform’s network of dental practitioners.

Franklin Templeton has partnered with Vestwell to build an advisor managed account experience. It combines Franklin Templeton’s proprietary Goals Optimization Engine methodology with Vestwell’s recordkeeping infrastructure to create the ability to automatically enroll participants into a personalized investment strategy. It should roll out in the first half of 2021.

ArmadaCare introduced WellPak, a suite of employee benefits that addresses both coverage and access to mental health and well-being services. WellPak combines coverage for doctor visits, prescriptions, and wellness treatments, with mental health and well-being support services.

Annexus announced the launch of Annexus Retirement Solutions. This new venture has focused on reengineering the Target Date Fund structure to enable lifetime income as part of defined contribution plans. The company intends to debut its next-generation retirement solution in early 2021.

Aflac announced Aflac Dental and Vision Insurance. Aflac Dental offers access to more than 270,000 providers, with no copays required for most preventative procedures and a deductible that decreases over time. Aflac Vision offers access to more than 85,000 providers, includes frame allowances and discounts and breakage warranty.