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June 21, 2021

Lincoln Financial bolsters adviser managed accounts service

By Verdict Staff

Lincoln Financial Group has partnered with Morningstar Investment Management to expand its adviser managed accounts service.

The company will leverage Morningstar’s adviser managed accounts service to offer additional customisation options within employer-sponsored retirement plans.

It will allow Adviser managed accounts to be offered as part of a Qualified Default Investment Alternative (QDIA) strategy, while being a voluntary option for all participants or as the standard QDIA.

QDIA is said to offer flexibility for the plan to offer the plan’s primary QDIA and adviser managed account as a secondary QDIA with connection to specific age criteria chosen by the plan.

When the participants in the QDIA reach a specified age, they will be moved to an adviser managed account.

Lincoln Financial Group senior vice president of institutional retirement distribution Gregg Holgate said: “Plan sponsors are looking for their service providers to offer flexibility and personalised investment advice that is tailored to their participants.

“By working with our adviser partners, we can support them in delivering a new level of customisation to plan sponsors, helping their participants achieve the retirement they envision.”

Lincoln offers adviser managed accounts through Morningstar Investment Management’s network of advisory firm relationships.

Early adopters of adviser managed accounts include SageView Advisory Group, CAPTRUST, OneDigital and HUB International.

Morningstar’s adviser managed accounts offer a retirement plan’s RIA with the technology platform to deliver the service. It also enables it to create underlying participant investment portfolios.

These personalised investment programmes are offered through the Lincoln Alliance programme.

It will allow the RIA to use information about each plan participant, including age, savings rates, income and plan balance, to create the portfolios.

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