Lincoln Employer Markets - a division of Lincoln Financial Group - has launched Morningstar Retirement Manager, including Morningstar Associates's 401-k managed accounts service.
This offering enhances Morningstar Associates’s guidance service already available to the Lincoln Alliance and Lincoln SmartFuture retirement programs by adding a discretionary account management service option called Managed by Morningstar.
With Morningstar Retirement Manager, participants receive a personalized retirement strategy, including a retirement income goal assessment, recommended savings rate, and construction of an appropriate portfolio strategy based on a participant’s goals and personal situation. Participants who enroll in the managed account service will also benefit from automatic investment selection, ongoing account monitoring, and quarterly progress reports to help them track their advancement toward their goals.
Cindy King, head of product for Lincoln Employer Markets retirement programs, said: Many participants are overwhelmed by investment choices and this can lead to them not enrolling in their company’s retirement plan. With Morningstar Retirement Manager, plan participants will automatically have the guidance and knowledge they need to help better prepare for retirement.
Patrick Reinkemeyer, president of Morningstar Associates, added: During this time of economic uncertainty, it’s important to remember that it is possible to be a successful investor if you focus on long-term goals. We have seen that participants enrolled in our managed account service save more, are better diversified, and improve their chances of having adequate income during their retirement years.