USI Consulting Group Launches Managed Retirement Accounts From Morningstar Associates
September 02 2009 - 10:56AM
PR Newswire (US)
CHICAGO, Sept. 2 /PRNewswire-FirstCall/ -- Morningstar Associates,
LLC, a registered investment advisor and wholly owned subsidiary of
Morningstar, Inc. (NASDAQ:MORN), today announced that USI
Consulting Group, one of the nation's largest benefit consulting
firms, is now offering managed retirement accounts through
Morningstar Retirement ManagerSM. USI has been offering Morningstar
Associates' online investment advice, guidance, and research to its
700 retirement plan sponsor clients and 350,000 participants since
2001. The addition of discretionary managed accounts helps plan
sponsors improve their retirement plan offerings by providing a
solution for participants who aren't sure how to choose investments
or monitor their retirement accounts on their own. Discretionary
managed accounts may also be used as a qualified default investment
alternative (QDIA) under the provisions of the Pension Protection
Act of 2006. "There is a great deal of variation in participants'
capacity and desire to manage their own retirement accounts. Some
may only want guidance or tools to help them do it themselves,
while others may want to turn management over to financial
professionals," said Bill Tremko, president of USI Consulting
Group. "That's why we're pleased to work with Morningstar
Associates to offer services ranging from advice and education to
managed retirement accounts that can meet the investing preferences
of a wide variety of participants." With Morningstar Retirement
Manager, participants receive a personalized retirement strategy,
including a retirement income goal assessment, recommended savings
rate, and construction of an appropriate portfolio using the
investments in the plan lineup. Participants who enroll in the
managed account service will also benefit from professional asset
management, ongoing account monitoring, and quarterly progress
reports to help them track their advancement toward their goals.
"The recent market volatility has taken a toll on investors' wealth
and confidence. Having a comprehensive saving and investing plan
and staying the course can help investors get back on track," said
Patrick Reinkemeyer, president of Morningstar Associates. "We're
focused on helping people create a retirement strategy that
establishes long-term savings, contributions, and income goals.
Once a strategy is established, our investment professionals can
then create and manage an investment portfolio that is designed to
meet those long-term objectives, and help move investors closer to
a successful retirement." About Morningstar Associates, LLC and
Morningstar, Inc. Morningstar Associates, LLC, is a registered
investment advisor and wholly owned subsidiary of Morningstar, Inc.
As of Dec. 31, 2008, Morningstar Associates' retirement services
were available to more than 8 million people through approximately
72,000 retirement plan sponsors and 17 plan providers. Morningstar
Retirement Manager is offered by and is the property of Morningstar
Associates, and is intended for use by citizens and legal residents
of the United States or its territories. Morningstar, Inc. is a
leading provider of independent investment research in North
America, Europe, Australia, and Asia. The company offers an
extensive line of Internet, software, and print-based products and
services for individuals, financial advisors, and institutions.
Morningstar provides data on nearly 325,000 investment offerings,
including stocks, mutual funds, and similar vehicles, along with
real-time global market data on more than 4 million equities,
indexes, futures, options, commodities, and precious metals, in
addition to foreign exchange and Treasury markets. The company has
operations in 19 countries and minority ownership positions in
companies based in three other countries. About USI Consulting
Group USI Consulting Group is one of the nation's largest benefit
consulting firms providing consulting, administration and
outsourcing services to approximately 1,000 clients nationwide. A
wholly owned subsidiary of USI Holdings Corporation, USI Consulting
Group's clients consist of public- and private-sector employers as
well as Fortune 500 companies. The company is headquartered in
Glastonbury, CT, and operates major offices in Boston, MA; Chicago,
IL; Cincinnati, OH; Dallas, TX; Houston, TX; Knoxville, TN; New
York, NY; and Washington, DC. For each of the past five years, USI
Holding Corporation has been one of the ten largest insurance
brokers in the United States (according to Business Insurance, as
measured by annual U.S. Brokerage revenues) and is a Goldman Sachs
Capital Partners Company. 2009 Morningstar, Inc. All rights
reserved. MORN-P Media Contacts: Alexa Auerbach, 312-696-6481 or
Christopher J. Martin, 860-368-2935 or DATASOURCE: Morningstar
Associates, LLC CONTACT: Alexa Auerbach of Morningstar Associates,
LLC, +1-312-696-6481, ; or Christopher J. Martin of USI Consulting
Group, +1-860-368-2935,
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