Toronto-based JustWealth Financial Inc. is expanding its service offering to corporate clients with the launch of its Digital Group Savings Plans hub as well as a new B2B partnership.

“We believe this will be a large catalyst [for growth] for us,” says Andrew Kirkland, president of JustWealth.

The online portfolio management company’s new hub allows plan sponsors to sign up to offer group RRSPs and TFSAs, which will be managed by JustWealth, as part of their employee benefits packages.

As part of that new venture, JustWealth has partnered with SEB Administrative Services (SEB Admin), part of Mississauga, Ont.-based SEB Group. SEB Admin is a technology company that develops and designs cloud-based products and services for benefits administration.

JustWealth’s group investment management services will be embedded within a SEB Admin-operated benefits administration service.

What that means is employees of participating companies will go through JustWealth’s digital on-boarding process for their group RRSP or TFSA when they enroll in their health and dental benefits programs.

“By launching a new online hub, we are placing the emphasis on the ease and convenience that a digital, robo-advisor offering provides to plan sponsors and plan members,” said Richard Burton-Williams, head of JustWealth Institutional, strategy and partnerships, in an emailed statement to Investment Executive.

“While we’ve seen a number of companies admirably adjust to the need to work virtually, JustWealth, as an online provider, has always operated in a virtual environment, so we are suited to service clients who are themselves also adapting to these times.”

The new platform will offer participating employees access to the same portfolios that are available to JustWealth’s direct-to-consumer clients, albeit at a slightly lower management fee of 0.4%.