ExpertPlan Provides Co-Fiduciary Service

With ExpertNvest, Morningstar Investment Services assumes co-fiduciary status for both the investment funds selected and maintained in the plan and the investment management of participant accounts, according to a press release. Morningstar Investment Services will also select carefully screened, low-cost mutual funds and providing ongoing monitoring and fund replacement to provide participants with portfolios tailored to their personal investment horizon and risk tolerance.

Any revenue sharing provided by the fund is disclosed, ExpertPlan said.

“ExpertNvest is the answer particularly for those employers who have been reluctant to offer a retirement plan due to liability concerns and the challenge of understanding the costs associated with offering a plan,” said Julian Onorato, CEO of ExpertPlan, in the release. “ExpertNvest is also ideal for advisers who are unable to act as an investment fiduciary for retirement plans.”