A one-stop, consolidated view of workplace retirement plans and participant data is being rolled out today by Morgan Stanley at Work in the form of its new Corporate Retirement Portal, an innovative technology solution designed for Morgan Stanley Wealth Management plan advisors by the firm’s award-winning Modern WealthPlatform, WealthDesk.
Plan advisors have historically used third-party tools and resources to manage their clients’ retirement plan assets held away at recordkeepers. Morgan Stanley at Work says the new Corporate Retirement Portal allows them to have access to a comprehensive view of their clients’ retirement plan accounts, inclusive of the services provided to held-away retirement plans and plan sponsors. Plan advisors can now work seamlessly with plan sponsors and provide participants targeted financial education through Morgan Stanley Wealth Management’s Next Best Action, an engagement tool that powers scalable customized content delivery.
“In today’s economic environment, punctuated by rising inflation and market volatility, plan sponsors and participants alike are looking for a helping hand in maximizing retirement benefits,” said Brian McDonald, Managing Director and Head of Morgan Stanley at Work. “The Corporate Retirement Portal allows plan advisors to deliver personalized financial education and content to help participants navigate the complexities of retirement planning and savings. The launch further demonstrates our commitment to innovation and thoughtful disruption in the workplace wealth space.”
In compliance with the recent Department of Labor (DOL) cybersecurity guidance for plan sponsors, service providers and plan participants, the Corporate Retirement Portal ensures the firm’s clients’ data is transferred in a secured fashion, and the right safeguards are in place to protect their information. This includes encryption of sensitive data, including client data, plus annual cybersecurity training and awareness for all employees with access to the firm’s systems.
“We see this as a game-changing technology solution that is truly a differentiator in the retirement industry.”
Anthony Bunnell, Morgan Stanley at Work
“We listen closely to the plan advisors we serve, and in response have built from the ground up a technology solution with capabilities to improve their daily lives so they can focus on providing value-added services to recordkeepers, plan sponsors and participants,” said Anthony Bunnell, Head of Retirement for Morgan Stanley at Work. “Implementing our Corporate Retirement Portal on the Plan Advisor’s desktop will help further drive efficiencies, help recordkeepers scale their business and enhance the plan sponsor and participant experience on our retirement platform. We see this as a game-changing technology solution that is truly a differentiator in the retirement industry.”
The launch of the Corporate Retirement Portal comes on the heels of Morgan Stanley’s recent acquisition of nonqualified deferred compensation provider, American Financial Systems in June 2022 and strategic alliances with recordkeepers Vestwell and Empower Retirement in June and August 2021, respectively. In addition, the firm announced three strategic product enhancements to its stock plan platforms Equity Edge Online and Shareworks to deliver time and cost savings to stock plan administrators and participants.
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