Home > Newsroom > News Releases

Filter by: Year Category Country Go
Printer Friendly Version Large Font Medium Font Small Font

2009 News Releases

For Immediate Release

October 15, 2009

John Hancock Funds to Partner with Advisors on Roth IRA Conversions

  • Launches major effort to support advisers and their eligible clients
  • Special Markets group and CRPC-trained staff available for consultation via www.jhfunds.com/iracenter

Boston John Hancock Funds is making major new resources available to financial advisers in an effort to help them serve clients eligible for Roth IRA conversions. Available now at the dedicated IRA Center at www.jhfunds.com/iracenter are a variety of tools and materials including research papers, brochures, videos, webinar, client seminar, specialized tax center, and an interactive Roth conversion calculator.

“We want our advisers to choose the right partner to help them with Roth IRA conversions,” said Carey Foran Hoch, Vice President and head of marketing for John Hancock Funds.

“John Hancock has dedicated considerable time and resources to helping advisers understand the Roth IRA conversion opportunity, and how it can help many of their eligible clients achieve their financial and retirement planning objectives.”

Beginning on January 1, 2010, nearly $1.4 billion of retirement assets will immediately become eligible for conversion to Roth IRAs. As a result of the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), for the first time taxpayers with an Adjusted Gross Income greater than $100,000 are eligible to convert traditional IRAs and qualified retirement accounts such as 401(k)s to a Roth IRA. This means that higher-net worth investors have an opportunity to pay taxes now via a conversion, and thus enable a Roth IRA to grow and eventually be distributed tax-free.

Advisers may also tap into the expertise of John Hancock’s Special Markets group, made up of experts with advanced law and tax planning degrees, who are available to consult on regulations, business practices or a client’s specific circumstances. For example, an October 21st webinar on the tax benefits of Roth IRA conversions features Brandon Buckingham, tax attorney and head of John Hancock’s Special Markets group. Moreover, John Hancock Funds’ Business Consultants are required to obtain their Chartered Retirement Planning Counselor (CRPC) designation from the College of Financial Planning, and many internal wholesalers and marketing professionals also have obtained the designation. This training provides John Hancock with a unique perspective in helping advisers solve complex retirement issues.

All materials on the John Hancock Funds IRA Center are either client-approved or designated for advisers only, as appropriate.

About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial, John Hancock Funds manages more than $42.9 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at June 30, 2009.

About John Hancock Financial and Manulife Financial Corporation
John Hancock Financial is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and in most of Asia, and primarily as John Hancock in the United States, Manulife Financial Corporation offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$421 billion (US$362 billion) at June 30, 2009.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at www.johnhancock.com.

Contact:     
Beth McGoldrick
(617) 663-4751
bmcgoldrick@jhancock.com