According to the announcement, the managed account component will be made available through ADP, the recordkeeper for DWS Scudder retirement plans. Morningstar Associates’ advice and guidance services are already available to DWS Scudder retirement plan clients. The managed account component is intended to provide plan sponsors with a cost-effective, flexible option for helping participants meet their investment goals.
With the new service, participants will receive professional investment management of their retirement accounts, including construction of an appropriate portfolio strategy based on a participant’s goals and personal situation, ongoing account monitoring, and quarterly progress reports. Morningstar Associates will be a fiduciary to the plan for the investment advice it provides.
Ron Cohen, Director of DWS Scudder Retirement Services, said in the announcement, “This service leverages our relationship with that of ADP and Morningstar Associates to help participants create more balanced portfolios and potentially increase their retirement savings.”
More information may be obtained by contacting a DWS Scudder Retirement Specialist at 800-522-1441.