More momentum was added to the advisor managed accounts trend today with the announcement that OneAmerica and OneDigital Investment Advisors are collaborating to harness the power and experience of recognized industry names to deliver more tailored investment services to plan participants.
The collaboration is focused on providing registered investment advisors (RIAs) like OneDigital with Morningstar Investment Management’s advisor managed accounts offering, which allows RIA firms to deliver personalized investment advice through a co-branded version of its Morningstar Retirement Manager managed accounts platform and user interface.
Indianapolis-based OneAmerica acts as recordkeeper and integrates Morningstar Investment Management’s advisor managed account service into its recordkeeping system, allowing for a seamless experience for OneDigital’s clients and their participants.
“What’s so special about this offering is the relationships we’re able to build because of it,” said Sandy McCarthy, president of Retirement Services at OneAmerica. “We believe equipping advisors to serve retirement plans and individual participants with customized solutions and optionality is powerful. And to work alongside a respected provider like OneDigital is an honor. Together, we expect to produce some amazing success stories.”
“OneDigital is excited to be partnering with OneAmerica on this Morningstar Investment Management white-labeled Advisor managed accounts offering… Our personalized solution increases engagement and drives better outcomes for the participants we serve.”
Vince Morris, OneDigital
Ensuring the OneDigital brand is front-and-center allows the RIA, which has more than 100 offices in the U.S., along with over 5,100 retirement plan clients representing more than one million participants, to continue their mission to deliver trusted and best-in-class guidance to clients. OneDigital is responsible for building the fund-level portfolios while Morningstar Investment Management is responsible for assigning an appropriate portfolio to the investor based on their specific information. Morningstar Investment Management also delivers contribution rate and retirement age recommendations.
“OneDigital is excited to be partnering with OneAmerica on this Morningstar Investment Management white-labeled Advisor managed accounts offering─they have been great to work with. We believe that our personalized solution increases engagement and drives better outcomes for the participants we serve,” said Vince Morris, president, OneDigital Retirement & Wealth.
“Collaborating with industry leaders like Morningstar Investment Management and OneDigital allows us to offer retirement plan advisors and plan participants rich customization opportunities,” said Steven Kofkoff, OneAmerica vice president, Retirement Services Strategy, Product Management and Innovation. “We’re serving an increasingly interested marketplace, and we’re looking forward to continuing to enhance our unique offering.”
OneAmerica announced the collaboration with Morningstar Investment Management last year.
Nationally, Morningstar Investment Management serves more than 121,000 plans and more than 1.7 million retirement savers use its various managed accounts services as of Dec. 31, 2021.
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• The Advisor Opportunity in Managed Accounts