Managed account and advice services.

Discover how to better support your employees on the path to retirement.

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Each participant

For many people, retirement planning can feel overwhelming. But a little guidance—and the right plan design—can make a big difference in helping participants work toward their retirement goals.

Help participants work toward their retirement goals and stay on track.

With a managed account service, participants get access to personalized savings and investment recommendations from an independent registered investment adviser.1 And, for a fee, they can receive ongoing professional management of their retirement plan account.

  • Increased deferral rates

    After an advice consultation, almost 60% of participants increased their deferral rate by an average of nearly 4%.2

  • Increased confidence

    Participants working with a financial advisor are 4x more likely to be financially confident than participants that have not met with an advisor.3

Participants get access to:

  • A target retirement age and income goal
  • A savings strategy to help them get there
  • An investment allocation recommendation based on investments available within the plan
  • Automatic adjustments to their investments as their situation changes

A range of plan design options.

With multiple ways to set up managed account and advice services, you can choose the solution that works for your plan and participants.

  • Managed accounts as the qualified default investment alternative (QDIA), including full or partial plan reset
  • Managed accounts as a dynamic QDIA paired with a target date fund or custom model portfolios
  • Managed accounts as an opt-in service
  • Online third-party advice tool

Advisor managed accounts

Advisor managed accounts

Get all the features of a managed account service with portfolios constructed by an independent registered investment advisor.

More information for consultants

Guidance and support for participants.

We help employees understand how the pieces of their retirement fit together—and fit within the bigger picture.

  • Innovative education, digital tools, and access to products and services to help them manage their finances
  • Targeted communication and engagement campaigns
  • Access to the latest retirement planning features and technology from Morningstar Investment Management LLC
  • Experienced Advice Consultants to answer questions about recommendations received through the third-party managed account service
Two kayakers hold hands while walking into the water at sunset.

Additional fiduciary support for your plan.

Morningstar Investment Management serves as an ERISA 3(38) fiduciary, accepting responsibility for the advice provided through the managed account service.4

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Outcomes are not guaranteed.

"We," "us," and "our" refer to Schwab Retirement Plan Services, Inc.

1. At the direction of the Plan Sponsor or Plan Administrator, Participants may have access to advice services that can provide Participants with a retirement savings and investment strategy for their Plan account, furnished by Morningstar Investment Management LLC, an independent registered investment adviser and subsidiary of Morningstar, Inc. Recommendations are formulated and provided by Morningstar Investment Management through Morningstar® Retirement ManagerSM, an advice (nondiscretionary investment advice) and managed accounts (discretionary investment advice and asset management) program which is intended for citizens or legal residents of the United States and its territories, and can be accessed through workplace.schwab.com. Morningstar Investment Management will select investment options appropriate for each Participant's strategy from the investment options available under the Plan as selected by the Plan Sponsor, Plan Administrator, or other Plan fiduciary. Morningstar Investment Management is not affiliated with or an agent of Schwab Retirement Plan Services, Inc. (SRPS); Charles Schwab & Co., Inc. (CS&Co.), a federally registered investment advisor; or their affiliates. Neither SRPS, CS&Co., nor their affiliates supervise, make recommendations with respect to, or take responsibility for monitoring the advice services provided to the Participants by Morningstar Investment Management. Advice Consultants are registered representatives of CS&Co.; not employees of Morningstar Investment Management, who may facilitate Participant access to Morningstar Retirement Manager, but do not provide investment advice or recommendations regarding the Morningstar Investment Management services. The term "personalized advice" refers to personal participant data such as age, salary, and Plan account balance, which will form the basis by which Morningstar Investment Management will establish the Participant's savings and investment recommendations. Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market. There is no guarantee a Participant's savings and investment strategy will provide adequate income at or through their retirement. Projections and other information regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results, and are not guarantees of future results. Results may vary with each use and over time. There is no additional cost for the nondiscretionary investment advice, beyond the expenses imposed by the underlying investments and the standard fees paid to SRPS, CS&Co., and their affiliates for recordkeeping and related services. However, for Participants using the managed account program, an asset-based fee may be charged to Participant Plan accounts based on the Participant's account balance in the managed account program. For a complete list of investment options available under the Plan, as well as information pertaining to fees and expenses applicable to the Plan account, log in to workplace.schwab.com to find the most recent annual Fee and Investment Notice and any subsequent Change Notices under "History & Statements." More information about fees and compensation that SRPS, CS&Co., and their affiliates receive are detailed in the Charles Schwab & Co., Inc. Advice Services with Morningstar Investment Management LLC Disclosure Brochure (Form ADV Part 2A). Participants should carefully consider information contained in the materials furnished at their employer's direction regarding the services provided by SRPS and its affiliates and Morningstar Investment Management, including information regarding compensation, affiliations, and potential conflicts. The Morningstar name and logo are registered marks of Morningstar, Inc.

2. Schwab Retirement Plan Services internal data from April 2016 through December 31, 2023.

3. Schwab Retirement Plan Services internal 2022 RPS Participant Outcomes Survey. This survey of eligible participants in 31 plans serviced by Schwab Retirement Plan Services was conducted by Logica Research. 3,516 employees responded to all outcome questions. All data is self-reported by study participants and is not verified or validated. Respondents participated in the study between December 7 and 20, 2022. Survey participants responded with 6 or 7 on a 1-7 scale on four survey questions related to confidence and correlated with currently working with a financial advisor.

How confident do you feel about your current financial situation? (Base=4,517; # answering 6 or 7: n=1,599)
How confident do you feel about your future financial situation? (Base=4,180; # answering 6 or 7: n=1,446)
How confident do you feel about the decisions you make in your employer-sponsored retirement account or 401(k) plan? (Base=3,088; # answering 6 or 7: n=1,098)
How confident do you feel about the decisions you make about regular investments outside of your 401(k) or IRA? (Base=3,516; # answering 6 or 7: n=1,081)
We would like to know how you are planning for your financial future. Which of the following do you currently have or plan to have in the next 2 years? (Working with a financial advisor: Base=3,823; # answering "1-Currently have/doing": n=1,361)

Logica Research is not affiliated with Schwab Retirement Plan Services, Inc. or its affiliates.

4. If a named fiduciary of the plan selects, appoints, and monitors Morningstar Investment Management as the investment manager, the plan's trustee and other plan fiduciaries will be relieved of fiduciary responsibility for the Morningstar Investment Management investment decisions.

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Investment and Insurance Products Are: Not FDIC Insured • Not Insured by Any Federal Government Agency • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or any of its Affiliates • Subject to Investment Risks, Including Possible Loss of Principal Amount Invested

Outcomes are not guaranteed.

Workplace Financial Services is a business enterprise which offers products and services through Schwab Retirement Plan Services, Inc.; Schwab Stock Plan Services; and Designated Brokerage Services. Schwab Retirement Plan Services, Inc., provides recordkeeping and related services with respect to retirement plans. Schwab Stock Plan Services is a division of Charles Schwab & Co., Inc. providing equity compensation plan services and brokerage solutions for corporate clients. Schwab Designated Brokerage Services (DBS), a division of Charles Schwab & Co., Inc., provides technology solutions for corporate clients with regulatory requirements to monitor employee security transactions.  Schwab Retirement Plan Services, Inc., and Charles Schwab & Co., Inc. ("Schwab")(Member SIPC) are separate but affiliated entities, and each is a subsidiary of The Charles Schwab Corporation.

Through its operating subsidiaries, The Charles Schwab Corporation provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors as well as provides services to retirement and other benefit plans and participants. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC, sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice. Its banking subsidiaries, Charles Schwab Bank, SSB and Charles Schwab Premier Bank, SSB (Members FDIC and an Equal Housing Lenders), provide banking and lending services and products; Charles Schwab Trust Bank (Member FDIC), provides trust, custody, and deposit products and services. Its recordkeeping subsidiary, Schwab Retirement Plan Services, Inc., provides recordkeeping and related services. What we share here to help support you, your employees, your plan, and your participants represents the broad range of products and services available through The Charles Schwab Corporation and its operating subsidiaries. This includes access to brokerage, banking, trust, and recordkeeping services to help respond to needs that may exist within or beyond your retirement plan.

The Charles Schwab Corporation provides services to retirement and other benefit plans and participants through its separate but affiliated companies and subsidiaries: Charles Schwab Trust Bank, Member FDIC, and Charles Schwab & Co., Inc., Member SIPC. Trust, custody, and deposit products and services are offered by Charles Schwab Trust Bank. Brokerage products and services are offered by Charles Schwab & Co., Inc. Schwab Retirement Technologies, Inc. ("Schwab RT") is engaged in developing and licensing proprietary retirement plan recordkeeping systems to independent third-party administrators.

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