Discretionary managed accounts are expected to help plan sponsors to improve retirement plan offering

Morningstar Associates, an investment advisor and wholly-owned subsidiary of Morningstar, has announced that USI Consulting Group, a benefit consulting firms, is offering managed retirement accounts through Morningstar Retirement Manager.

USI has been offering Morningstar Associates’ online investment advice, guidance, and research to its 700 retirement plan sponsor clients and 350,000 participants since 2001. The addition of discretionary managed accounts are expected to help plan sponsors to improve their retirement plan offering. Discretionary managed accounts may also be used as a qualified default investment alternative (QDIA) under the provisions of the Pension Protection Act of 2006, company reported.

Bill Tremko, president of USI Consulting Group, said: There is a great deal of variation in participants’ capacity and desire to manage their own retirement accounts. Some may only want guidance or tools to help them do it themselves, while others may want to turn management over to financial professionals. That’s why we’re pleased to work with Morningstar Associates to offer services ranging from advice and education to managed retirement accounts that can meet the investing preferences of a wide variety of participants.

Patrick Reinkemeyer, president of Morningstar Associates, said: The recent market volatility has taken a toll on investors’ wealth and confidence. Having a comprehensive saving and investing plan and staying the course can help investors get back on track. We’re focused on helping people create a retirement strategy that establishes long-term savings, contributions, and income goals. Once a strategy is established, our investment professionals can then create and manage an investment portfolio that is designed to meet those long-term objectives, and help move investors closer to a successful retirement.