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Morningstar Launches RIA Managed Retirement Accounts Platform

Service Providers

Morningstar Investment Management LLC, a subsidiary of Morningstar, Inc., has launched a new advisor managed accounts platform that aims to make it easier for Registered Investment Advisors (RIA) firms and their advisors to offer a managed accounts solution to their retirement plan clients.

According to a press release, the platform is designed so that participants receive personalized advice based on model portfolios aligned with the RIA firm's investment expertise and philosophies, and it allows advisors to offer personalized advice in a scalable manner. The firm says that the platform will be integrated with multiple recordkeepers to help ensure greater coverage within an advisor's existing book of business. 

At the heart of this solution is Morningstar Investment Management's patented process that determines each participant's investment portfolio assignment based on their risk capacity.

While the advisor managed accounts platform puts the RIA firm in charge of the underlying investment models and fund decisions, it leverages the technologies, user interface, and methodologies that power Morningstar Investment Management's traditional managed accounts offering – which, as of Dec. 31, 2018, was used by more than 1.4 million participants, 247,650 plans, and had $58.2 billion in assets under advisement and management.

CAPTRUST Financial Advisors is the first RIA firm to use the new platform, and Schwab Retirement Plan Services will be the first recordkeeper integrated into the service.