NEST Insight, a stand-alone business unit of the National Employment Savings Trust, London, formed a strategic partnership with Vanguard Group to help support its research, publications and events program.
NEST Insight was set up last year to understand and help solve the challenges that face what it calls the "defined contribution generation."
The move was announced at the NEST Insight annual conference Wednesday, said a news release from the retirement plan, which has £1.8 billion ($2.3 billion) in assets.
Vanguard is the first strategic partner for the unit in a three-year partnership.
Vanguard, which has $4.4 trillion in assets under management, will support and help shape the program through sponsorship and the contribution of industry expertise and insights. It will also help the program to reach a wider audience. Vanguard's center for investment research, which works to improve investor outcomes through behavioral research and experimental intervention, will play a key role. Further details on the support were not available.
"We're thrilled to welcome Vanguard on board as the first strategic partner for NEST Insight," said Will Sandbrook, NEST Insight director, in the news release. "Vanguard is a global leader in the retirement and investment fields, with values very closely aligned to our own. We believe this partnership will be instrumental in helping NEST Insight to deliver our groundbreaking program of research into how we can best serve the retirement needs of our members."