A Great-West news release said the more than 240,000 participants associated with this rollout were given access to the new advisory program, Reality Investing, on August 31.
According to the company, Reality Investing is a behaviorally designed suite of personalized investment advice and account management that reflects the actual or “real” investing style of a participant. With Reality Investing, participants select the level of investment advice and planning assistance they want. Fees vary based on the service selected – ranging from no charge for online assistance to a percentage fee based on assets for managed accounts, according to the announcement.
The new offering includes:
- Do-It-For-Me Investor is a managed account service designed for investors who lack the time, interest or confidence to manage their own accounts and prefer to have a qualified, independent financial expert allocate their funds for them. This service is provided by Advised Assets Group based on data resulting from the methodologies and software developed and employed by Ibbotson.
- Help-Me-Do-It Investor is for the investor who seeks some assistance in the management of his or her retirement account. This is designed for investors who are interested in managing their accounts but lack the confidence to select an asset allocation strategy or individual fund options.
- Do-It-Myself Investor provides the more confident investor who is interested in managing his or her own retirement account with access to online account planning and advisory tools that help ensure informed fund selection and account management over time.