• T Rowe Price Group Inc (NASDAQ: TROW) has agreed to purchase Retiree, Inc., a fintech firm that offers innovative retirement income planning software. Deal terms were not disclosed.

• "The software will be an important part of our strategy to build personalized retirement income solutions and services for our clients," said Dee Sawyer, head of Retirement Plan Services and U.S. Intermediaries at T. Rowe Price.

• Overland Park, Kansas-based Retiree, Inc.'s tax-aware income planning software offers a personalized income strategy by drawing from a household's accounts with different tax treatments, including Roth conversion strategies, to increase the lifetime value of total after-tax income and bequest value.

• Retiree, Inc.'s products include SSAnalyzer, Income Solver, and Social Security Solutions.

• The company expects the transaction to close during 2Q23.

• T Rowe Price held cash and equivalents of $1.76 billion as of December 31, 2022.

• William Meyer, Founder and CEO of Retiree, Inc. said, "We are thrilled to join T. Rowe Price to harness the power of our technology solutions across their robust distribution channels."

• Price Action: TROW shares are trading higher by 0.50% at $111.20 on the last check Thursday.

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This article Retirement Plans? - T. Rowe Price Bolsters Its Position Via This Fintech Firm Acquisition originally appeared on Benzinga.com

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