According to a press release, the offering enhances Morningstar Associates’ guidance service already available to the Lincoln Alliance and Lincoln SmartFuture retirement programs by adding a discretionary account management service option called Managed by Morningstar. With Morningstar Retirement Manager, plan participants receive a personalized retirement strategy, including a retirement income goal assessment, recommended savings rate, and construction of an appropriate portfolio strategy based on a participant’s goals and personal situation, the announcement said.
The managed account service also provides participants with automatic investment selection, ongoing account monitoring, and quarterly progress reports to help them track their advancement toward their goals.
“With Morningstar Retirement Manager, plan participants will automatically have the guidance and knowledge they need to help better prepare for retirement,” said Cindy King, head of product for Lincoln Employer Markets retirement programs, in the announcement.
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