OneAmerica Launches Advisor Managed Accounts with Morningstar Investment Management LLC
New services mean more personalized advice for retirement plan accounts, clients of all sizesIndianapolis, December 7, 2021
OneAmerica® is teaming with one of the largest managed retirement accounts providers in the industry, Morningstar Investment Management. This collaboration enables advisors to deliver more tailored savings and investment advice to plan participants.
OneAmerica would provide recordkeeper services through Morningstar Investment Management to Retirement Investment Adviser (RIA) firms in a white-label version under the RIA’s brand. A few pilot firms are already on board and others are slated to join in 2022.
This new managed account service delivers the same investment experience that employers rely upon OneAmerica for in their retirement plan design. This approach gives plan participants more personalized advice based on portfolios that are aligned with their advisor firm’s investment experience and philosophies. Participants receive a personalized investment recommendation based upon many factors such as age, salary, account balance, contribution rate, gender, and risk capacity. In addition, individuals can use managed accounts to aggregate previous employer retirement plans — along with IRAs, stock purchase plans, pensions, equity compensation, and deferred compensation — to receive high-level asset allocation guidance.
The advisor managed account service leverages Morningstar Investment Management’s existing managed accounts user interface and serves as the fiduciary for portfolio assignment and for the recommendations on factors such as savings rate and retirement age. The RIA firm is the 3(38) fiduciary for fund selection and asset allocation decisions. OneAmerica has integrated the platform into its recordkeeping system, allowing for a seamless participant experience.
“By working with a recognized industry name like Morningstar Investment Management, we’re building upon the already rich customization opportunities we offer our plan advisors, enabling them to further tailor the support they provide to participants,” said Sandy McCarthy, president of retirement services at OneAmerica.
Nationally, Morningstar Investment Management serves more than 118,000 plans through two dozen plan providers and its reach for its various managed accounts services exceeds 1.7 million users as of September 30, 2021.
OneAmerica is the marketing name for the companies of OneAmerica. Morningstar Investment Management LLC is not an affiliate of any OneAmerica company.
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A national provider of insurance and financial services for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit oneamerica.com/about-us/companies-of-oneamerica.
Products issued and underwritten by American United Life Insurance Company® (AUL), a OneAmerica company. Administrative and recordkeeping services provided by McCready and Keene, Inc. or OneAmerica Retirement Services LLC, companies of OneAmerica which are not broker/dealers or investment advisors.
Tom Spalding, Public Relations Manager, 317-285-1461