Mutual of America Unveils Managed IRA Solution
Mutual of America Financial Group has launched the MoA Managed IRA product, in collaboration with Morningstar Retirement, IRALOGIX and Envestnet.
“The MoA Managed IRA is the next evolution in our retirement investing offerings,” said Chris Bailey, executive vice president, Individual Products and Third Party Distribution, at Mutual of America Financial Group. “We’re not just offering investment choices. Through our strategic partnerships, we’re providing a customized strategy for each account holder that can evolve over time, helping them to stay aligned with their specific goals from enrollment through retirement. We’re also making sure that they have robust customer support available to assist them throughout their journey.”
Through this collaboration, Morningstar Investment Management LLC, a registered investment adviser and umbrella entity for Morningstar Retirement, delivers personalized portfolio recommendations and advice to account holders through the Morningstar Retirement Manager platform.
Additional features include quarterly portfolio rebalancing and Morningstar Retirement Manager’s Income Secure feature which provides drawdown guidance to support those transitioning into retirement.
The MoA Managed IRA considers more than just an individual’s age. Investment and savings strategies are built around each individual’s income, risk tolerance, retirement timeline, and contribution behavior, delivering an enhanced level of customization.
“Investors are demanding more personalized retirement services, ones that are responsive and easy to navigate,” said James Smith, global head of Retirement Business Strategy at Morningstar Retirement. “This service meets that need with a professionally managed approach that adjusts over time to help individuals make more informed decisions and stay on track toward their long-term financial goals.”
The infrastructure behind the MoA Managed IRA is powered by IRALOGIX. In addition, Envestnet will provide non-discretionary portfolio management.
