These capabilities have been added to the recently launched Worksite Financial Solutions retirement planning services platform. The platform allows plan sponsors to help their participants prepare for the future through a comprehensive system of financial education, advice and account transition services.
Morningstar provides technology for the Employee Advice Solution, a software platform that helps advisers to provide participants with investment strategies to help them reach their retirement goals. Advisers can choose a strategist from the platform to deliver in-plan participant advice, while participants have the choice of ongoing or point-in-time advice based on a financial analysis.
Through the Financial Learning Center, Financial Finesse provides employees with an assessment of their financial wellness and offers a plan to improve their finances. Sponsors receive a report on the financial wellness of their work force that reveals areas where their employees need further education. Through this, LPL advisers are able to offer sponsors custom financial education programs to address the needs of individual work forces.
WMSI provides Web and call center technology that brings together plan and participant data from different recordkeeping systems so advisers and sponsors may help participants transition retirement plan accounts as employment status changes.