Milliman is working with Resources Investment Advisors to introduce Morningstar advisor managed accounts services to its joint clients.
Advisor managed accounts allow a plan’s registered investment advisor (RIA), such as Resources, to create personalized investment portfolios for participants through Morningstar Investment Management LLC’s technology platform, the announcement explains.
Within that platform, Morningstar Investment Management serves as the fiduciary for portfolio assignment and for its recommendations on such things as savings rates and retirement age. Additionally, Milliman has integrated the platform into its recordkeeping system using single sign-on for a seamless participant experience and branding it for the respective RIA firm, the announcement further notes.
“We are pleased to work with Resources and Morningstar Investment Management to offer advisor managed accounts to retirement plan participants,” notes Kyle Hughes, Milliman Principal and Employee Benefits Administration National Sales Leader. “Participants receive access to personalized investment advice, the goal of which is to help them achieve healthier financial outcomes, and RIAs gain a broader platform to deliver individual service directly to participants.”
“We are very excited to launch Personalized Portfolios with Milliman. This service will leverage Morningstar Investment Management's robust managed account capabilities and seamless integration with Milliman's platform to help more participants meet their retirement goals,” said Vince Morris, President of Resources Investment Advisors.
Adds Brock Johnson, President, Global Retirement & Workplace Solutions at Morningstar Investment Management: “Milliman was one of the first to integrate with our advisor managed accounts platform, recognizing early on the opportunity to seamlessly enable advisors to deliver personalized retirement advice in a scalable way. Its support has enabled our platform to serve a growing list of advisory firms, and ultimately to give more people the help they need to save for the type of retirement they want.”
