The new offering includes managed accounts, as well as advice delivered on paper, online, or by phone. T. Rowe Price is the first firm to provide access to the entire lineup of participant advice services that comprise the Morningstar Enterprise Advice Solution, according to the firm. Morningstar unveiled the Enterprise Advice Solution in April (see Morningstar Integrates Advice Components ).
“While many employees are asking for direction and guidance on how to invest for retirement, we know that no single tool meets the needs of all investors,” said Charlie Vieth, president, T. Rowe Price Retirement Plan Services, Inc. “We recognize that some investors are sophisticated, with technical savvy and a strong understanding of investment concepts and the markets, while others are novices who need step-by-step help and reassurance.”
The Enterprise Advice Solution includes the following services:
- Managed accounts
- Paper advice
- Online advice With the full investment advice service, participants receive specific security recommendations that will help them build diversified portfolios using the investment options available in their defined contribution plans.
- Phone advice