Introducing Our Managed Account Service
Newport is pleased to introduce our Managed Account service. This dynamic, holistic online tool offers personalized retirement education, advice, and investment management designed to help meet the needs of your plan sponsor clients and their plan participants.
For participants, this online investment and savings service is easy to use. Because it is integrated with our recordkeeping system, it uses information from the participant’s retirement plan, along with answers to a few simple questions, to develop a personalized investment strategy. And it manages, reviews and adjusts the strategy to meet the participant’s needs for as long as they are subscribed to the service.
It can be responsive to changes in a participant’s life and financial situation, resulting in a dynamic and engaging experience. And as a participant approaches retirement, it will gradually become more conservative by allocating assets away from equities and into fixed income investments—all using your menu of investment options to maintain a consistent participant experience. These are the same investment managers you selected and were approved by the plan sponsor.
In short, the Managed Account service helps participants set a retirement goal, and then puts a plan in place to help them reach it.
While it’s designed for participants, it has benefits for your plan sponsor clients, too. The selection of a qualified default investment alternative (QDIA) is an important fiduciary consideration that can offer safe harbor protection for plan sponsors. Our Managed Account service can serve as the QDIA, thus reducing a plan sponsor’s liability.
To find out more about Newport’s Managed Account service and the benefits it can provide to your clients, contact your Newport representative.
Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser and wholly owned subsidiary of Newport Group, Inc.
The Managed Account service is a web-enabled financial advisory service for retirement plan participants that uses technology supported by NextCapital Group, Inc. (“NextCapital”) and integrated with the retirement plan recordkeeping system. The service may be offered to participant accounts including employer-sponsored defined contribution accounts (401(k), 457, 403(b), and other participant directed plans). The service allows plan participants to develop a strategy to help them reach investing and retirement goals by offering a personalized plan for saving and investing, forecasts for retirement income and wealth, and the creation and management of model portfolios using the designated investment alternatives offered in the employer-sponsored defined contribution plan. Please refer to the Newport Group Consulting, LLC Managed Account ADV Part 2 for detailed information regarding the Managed Account service and associated fees. The ADV Part 2 is available at www.newportgroup.com and www.iard.com.
NextCapital licenses its technology to Newport Group, Inc. but does not serve as an investment adviser to Newport or its clients.
Newport and NextCapital are not affiliated companies.