01 June 2017

RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial Group (NYSE: LNC) announced today that it is offering Morningstar Investment Management LLC’s new flexible 3(38) fiduciary service to all of its clients, providing a new option for existing clients as well as new plans looking for enhanced fiduciary support.

“In this changing regulatory environment, providing our clients with the fiduciary support they want and need is critical,” said Ralph Ferraro, head of Product for Retirement Plan Services at Lincoln Financial Group. “Our introduction of the new Flexible 3(38) service demonstrates our commitment to ensuring advisors, consultants and employers can provide a tailored lineup of funds to their clients and employees.”

With the new service, the plan sponsor has the flexibility to select from a broad universe of investments that follow Morningstar Investment Management’s asset-class rules and are within its fiduciary coverage universe. Morningstar Investment Management will then assume responsibility for selecting, monitoring and replacing investment options within the plan, as necessary, which can mean fewer changes to a plan lineup and a simplified transition.

“This innovative solution makes it easier than ever for an advisor or an employer to get started with Lincoln Financial, and help their employees save for retirement,” said Ferraro. “Our clients should have easy access to this level of fiduciary support, and with the strong investment menu being offered, we are helping plan sponsors provide a retirement plan that is designed to help drive positive outcomes for their participants.”

“Our clients have asked us to deliver a 3(38) fiduciary service with increased flexibility without sacrificing our conviction in the suitability of the selected investment options,” said Brock Johnson, head of retirement solutions for Morningstar. “As part of the expansion of our fiduciary services offering, we’re excited to be rolling out our flexible 3(38) solution with Lincoln Financial.”

About Retirement Plan Services

For more than 60 years, Lincoln Financial Group’s Retirement Plan Services (RPS) business has been helping savers boost their retirement readiness through employer-sponsored plans. Our distribution force of more than 400 professionals, including institutional and wholesale distribution channels and advisor-based sales teams, work to provide plan sponsors with retirement plans that not only meet the unique needs of their plan participants but also align with sponsors’ total rewards strategies and help recruit and retain top talent. RPS Retirement Consultants, available onsite, online and by phone, develop long-term one-on-one relationships with savers to help motivate them to take actions that lead to better retirement outcomes. RPS offers personalized services, solutions and education to help plan participants get to and through retirement. The business serves approximately 1.4 million participants through 21,000 plan sponsors with $61 billion in assets under management as of March 31, 2017.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help empower people to 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, as well as to 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 $236 billion in assets under management as of March 31, 2017. Learn more at: www.lfg.com. Find us on Facebook, Twitter, LinkedIn and YouTube.

About Morningstar Investment Management LLC

Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., creates custom investment solutions that combine award-winning research and global resources with proprietary Morningstar data. With more than $200 billion in assets under advisement and management as of March 31, 2017, Morningstar’s Investment Management group provides comprehensive retirement, investment advisory, and portfolio management services for financial institutions, plan sponsors, and financial advisers. Morningstar’s Investment Management group consists of various registered investment advisory and licensed advisory entities around the world.



Media Contact
Kelly DeAngelis
Retirement Plan Services
Lincoln Financial Group