Morningstar Investment Management, part of Morningstar, has introduced a new platform that will enable RIAs to provide a managed accounts solution to their retirement plan customers.
With the new offering, RIAs can develop their model portfolios to offer tailored advice to clients.
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The platform makes RIAs responsible for the investment models and fund decisions.
However, it will leverage the technologies, user interface, and methodologies that are utilised by the traditional managed accounts service of Morningstar Investment Management.
Morningstar Investment Management president of global retirement and workplace solutions Brock Johnson said: “By giving advisers and RIA firms the platform and flexibility they need to support a managed accounts offering, we can help even more participants make more informed investing decisions to help achieve the outcomes they seek.”
The platform will be integrated with several recordkeepers, with Schwab Retirement Plan Services being the first among them.
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By GlobalDataThe first RIA to join the platform is CAPTRUST Financial Advisors- a retirement plan and investment advisory firm headquartered in North Carolina.
CAPTRUST defined contribution practice leader Scott Matheson said: “Personalised, one-on-one investment advice makes a huge difference, and Morningstar Investment Management’s adviser managed accounts platform gives us another way to help affect the outcome for even more participants.”
