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.

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    Increased deferral rates

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

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    Increased confidence

    Participants' confidence in making investment decisions in their 401(k) increased with the help of a financial professional.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
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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 Consultants4 to answer questions about recommendations received through the third-party managed account service
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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.5

Learn more about managed accounts.

Learn more about managed accounts.

Hear how participants can continue to save during uncertain times and how sponsors may want to think about their plans—especially when it comes to managed accounts and advice.

Video: What the numbers say about managed account adoption

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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 January 1, 2017 through December 31, 2022.

3. 2022 401(k) Participant Survey, July 2022. This online survey of U.S. 401(k) participants was conducted by Logica Research for Schwab Retirement Plan Services, Inc. Logica Research is neither affiliated with, nor employed by, Schwab Retirement Plan Services, Inc. A total of 1,000 plan participants completed the survey. Survey respondents were actively employed by companies with at least 25 employees, were 401(k) plan participants and were 21-70 years old. Survey respondents were not asked to indicate whether they had 401(k) accounts with Schwab Retirement Plan Services, Inc. All data is self-reported by study participants and is not verified or validated. Respondents participated in the study between April 4 and April 19, 2022. Detailed results can be found here.

4. Advice Consultants are registered representatives of Charles Schwab & Co., Inc. (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.

5. 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 Products: Not FDIC-Insured • No Bank Guarantee • May Lose Value

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 Brokerages Services, 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 ("Charles Schwab") provides a full range of securities brokerage, banking, money management, and financial advisory services, as well as services to retirement and other benefit plans. Charles Schwab & Co., Inc. offers investment services and products. Charles Schwab Bank, SSB (Member FDIC and an Equal Housing Lender) and Charles Schwab Trust Bank (Member FDIC) provides trust, custody, deposit, and lending products and services. Schwab Retirement Technologies, Inc. ("Schwab RT") is engaged in developing and licensing proprietary retirement plan recordkeeping systems to independent third-party administrators.

© 2023 The Charles Schwab Corporation. All rights reserved. (0522-225N)

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