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Products January 19, 2018
Vestwell Integrates Morningstar 3(21) Fiduciary Services to Platform
Financial advisers can help plan sponsors address their fiduciary responsibilities while creating their own investment product lineup from menus of funds on which Morningstar has performed due diligence.
Reported by PA
Vestwell, a digital retirement platform, announced it will be offering a select list of investment options under Morningstar Investment Management LLC’s 3(21) fiduciary services program to Vestwell clients.
Vestwell provides a platform that automates and digitizes the client recordkeeping and administrative experience so that advisers and plan sponsors can focus on developing a retirement plan that best suits their employees. The integration of Morningstar Investment Management services seeks to benefit financial advisers and plan sponsors by enabling them to address their fiduciary responsibilities while creating their own investment product lineup from menus of funds on which Morningstar has performed due diligence.
Advisers will have access to a list of investments curated by Morningstar that cover various asset classes and fund types, all of which follow strict guidelines centered on management, style and performance consistency, with an eye on expenses. The maintained list is embedded into the Vestwell platform, allowing advisers and plan sponsors to serve participants across various workforce demographics.
“We’re delighted to integrate Morningstar Investment Management’s 3(21) fiduciary services program, which complements our offering and provides advisers with a diverse, highly customizable set of retirement solutions for their clients,” says Aaron Schumm, founder and CEO, Vestwell.