Lincoln Financial Group Expands Advisor Managed Accounts Service

Additional customization and personalization to meet participant needs with dynamic Qualified Default Investment Alternative strategy

Lincoln Financial Group (NYSE:LNC) today announced it is building on the personalized investment programs offered through Morningstar Investment Management’s advisor managed accounts service to enable additional customization options within employer-sponsored retirement plans. Advisor managed accounts can now be offered as part of a dynamic Qualified Default Investment Alternative (QDIA) strategy, in addition to being used as a voluntary option for all participants or as the standard QDIA.

A dynamic QDIA provides flexibility for the plan to offer two different QDIA options — the plan's primary QDIA (i.e., Target Date funds) as well as an advisor managed account as a secondary QDIA based on specific age criteria selected by the plan. For example, a plan sponsor may designate the plan's QDIA as a target date fund for all of their participants below a specified age. Once the participants in the QDIA reach a specified age, they will transition to an advisor managed account.

“Plan sponsors are looking for their service providers to offer flexibility and personalized investment advice that is tailored to their participants,” said Gregg Holgate, senior vice president of institutional retirement distribution, Lincoln Financial Group. “By working with our advisor partners, we can support them in delivering a new level of customization to plan sponsors, helping their participants achieve the retirement they envision.”

Lincoln offers advisor managed accounts through Morningstar Investment Management’s network of advisory firm relationships. SageView Advisory Group, CAPTRUST, OneDigital and HUB International are early adopters of advisor managed accounts. By engaging Lincoln, these advisory firms can leverage the expertise of their advisors to focus on designing retirement strategies for the participants they serve through Lincoln’s recordkeeping system.

Morningstar Investment Management’s advisor managed accounts provides a retirement plan’s registered investment advisor (RIA) with the technology platform to deliver the service and the ability to create the underlying participant investment portfolios. Portfolios are assigned based on each participant’s unique situation. In most cases, Morningstar Investment Management serves as the fiduciary for those assignments using its proprietary methodology. These personalized investment programs, offered through the Lincoln Alliance^® program, enable the RIA to use information about each plan participant — such as age, savings rates, income and plan balance — to create the portfolios used by the program.

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About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $311 billion in end-of-period account values as of March 31, 2021. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we earned perfect 100 percent scores on the Corporate Equality Index and the Disability Equality Index, and rank among Forbes’ Best Large Employers and Best Employers for Women, and Newsweek’s Most Responsible Companies. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

About Morningstar Investment Management

Morningstar Investment Management LLC is a registered investment advisor and subsidiary of Morningstar, Inc. Neither Morningstar Investment Management nor Morningstar is affiliated with the Lincoln Financial Group. All advisory services are provided solely through Morningstar or their affiliates.

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