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Lincoln Offers 3(38) Investment Management to Plan Sponsors

The firm is offering Morningstar Investment Management LLC’s new flexible 3(38) fiduciary service to all of its retirement plan sponsor clients.

By PLANSPONSOR staff editors@plansponsor.com | June 02, 2017

Lincoln Financial Group is offering Morningstar Investment Management LLC’s new flexible 3(38) fiduciary service to all of its clients, providing a new option for existing clients as well as for new plans looking for enhanced fiduciary support.

With the new service, the plan sponsor has the flexibility to select from a broad universe of investments that follow Morningstar Investment Management’s asset-class rules and are within its fiduciary coverage universe. Morningstar Investment Management will then assume responsibility for selecting, monitoring and replacing investment options within the plan, as necessary, which can mean fewer changes to a plan lineup and a simplified transition.

“In this changing regulatory environment, providing our clients with the fiduciary support they want and need is critical,” says Ralph Ferraro, head of Product for Retirement Plan Services at Lincoln Financial Group. “Our introduction of the new Flexible 3(38) service demonstrates our commitment to ensuring advisers, consultants and employers can provide a tailored lineup of funds to their clients and employees.”

Ferraro adds: “This innovative solution makes it easier than ever for an adviser or an employer to get started with Lincoln Financial, and help their employees save for retirement. Our clients should have easy access to this level of fiduciary support, and with the strong investment menu being offered, we are helping plan sponsors provide a retirement plan that is designed to help drive positive outcomes for their participants.”

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