A news release said the service
includes professional investment management and
continual oversight for people who do not have the
time, experience, expertise or desire to
manage their retirement account portfolios.
According to the bank, with the managed accounts service of Morningstar Retirement Manager, Morningstar Associates creates a personalized investment portfolio that fits each participant’s financial situation, evaluates the portfolio
quarterly, manages the deferral percentage and investment allocation, and rebalances the portfolio as needed to help make sure that the appropriate investment options are selected and progress is being made toward meeting the participant’s retirement goals.
Because Morningstar Associates acts as an investment manager, Morningstar takes on fiduciary responsibility for the advice it provides.
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