John Hancock is a well-known brand in the financial services industry, particularly recognized for its comprehensive retirement plan services. It’s crucial to understand the scope and limitations of the information provided by entities operating under the John Hancock name, especially regarding retirement plans. This article aims to clarify the nature of John Hancock’s retirement services and the important disclaimers associated with them.
John Hancock Retirement Plan Services LLC plays a significant role by offering administrative and recordkeeping services. These services are delivered through an open-architecture platform, providing flexibility and a wide range of options for retirement plan sponsors and administrators. This platform approach allows for diverse investment choices and plan designs to meet the specific needs of different organizations and their employees.
Furthermore, John Hancock Trust Company LLC, operating as a New Hampshire non-depository trust company, provides essential trust and custodial services for retirement plans. They also offer Individual Retirement Accounts (IRAs) and manage specific Collective Investment Trusts. These services are fundamental for the secure and compliant operation of retirement plans, ensuring assets are properly held and managed according to regulatory standards and plan documents.
Group annuity contracts and recordkeeping agreements are facilitated by John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York. It’s important to note that product features and availability can vary depending on the state. These entities, while operating under the John Hancock brand, are distinct legal entities, each with specific roles and responsibilities in the retirement services ecosystem.
It is vital to recognize that the information provided by John Hancock is for general informational purposes only. While believed to be accurate and reliable at the time of posting, it is subject to change. Crucially, unless explicitly stated in writing, John Hancock entities do not provide impartial investment advice or act in a fiduciary capacity. This means they are not undertaking to give personalized recommendations tailored to individual circumstances or obligated to put your financial interests ahead of their own in an advisory role.
Therefore, it is imperative to consult with your own independent advisor regarding any investment, tax, plan design, or legal statements made by John Hancock. Seeking advice from a qualified professional ensures that your specific financial situation and retirement goals are taken into account when making decisions about your retirement plan. Remember, no investment strategy can guarantee specific objectives will be achieved, and all investments carry risk.
Finally, it’s important to understand the disclaimers related to investment products. Investments offered through John Hancock Retirement Services are NOT FDIC INSURED, may LOSE VALUE, and are NOT BANK GUARANTEED. This highlights the inherent risks associated with investing and the importance of careful consideration and professional guidance when planning for retirement.
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