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Retirement Planning > Saving for Retirement

Nationwide Offers Advisors Morningstar Tools for Plan Sponsor Clients

By Dinah Wisenberg Brin

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Nationwide is partnering with Morningstar Retirement to help financial advisors meet plan participants’ needs.

Financial advisors who work with institutional and governmental retirement plan clients can now tap Morningstar Retirement’s advisor managed accounts service through Nationwide, to deliver advice and savings strategies in an easy, accessible way, Nationwide announced recently.

Four in 10 participants struggle with understanding how much they’ll need to save to reach their retirement goals, according to Nationwide Retirement Institute. With advisor managed accounts, participants will receive personalized retirement strategies, generated by Morningstar Retirement’s engine and methodologies, the firm added.

These strategies will be packaged with each plan advisor’s expertise and consultation to build customized portfolios, according to Nationwide.

“Managed Accounts are designed to help participants feel confident that they have the right strategies in place when it comes to saving and investing for retirement,” Craig Hawley, Nationwide senior vice president of Retirement Solutions Sales, said. “Through this collaboration with Morningstar Retirement, we’re able to offer a service that combines the best of both worlds: personalized advice and professional management from a trusted advisor and our award-winning service. This service exemplifies our commitment to supporting financial professionals as they service and grow their plans.”

Advisors can collaborate with plan sponsors, demonstrating the value they offer in helping participants reach their retirement objectives, as well as monitor clients’ strategies online, according to Nationwide, a major insurer and financial services company.

Plans do not incur additional costs for offering the service to participants as part of their overall benefits package, and workers who enroll pay account management fees that are competitive with similar services on the open market, Nationwide added.

Morningstar Retirement’s advisor-managed accounts allow RIA firms and their advisors to offer a co-branded managed accounts service to their retirement plan clients that aligns with the firm’s investment expertise and philosophies.

Nationwide Retirement Solutions administers nearly 32,000 retirement plans with over $200 billion in participant assets and 2.7 million participants in the governmental 457, corporate 401(k) and not-for-profit 403(b) markets.

Image: Adobe Stock

Dinah Wisenberg Brin

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