Business Transformation | 11.08.23

Morningstar, Envestnet Launch Managed IRA Service

by: John Manganaro

Morningstar Investment Management's retirement group is partnering with Envestnet and IRALOGIX to launch a new managed account service for individual retirement accounts (IRAs). According to a joint announcement, the new service will feature custody support from Matrix, a subsidiary of| Broadridge, and the overall goal is to help make it easier for individuals to receive personalized advice in their IRAs. This will be accomplished by combining Envestnet’s fund selection and model portfolio-building capabilities with Morningstar Retirement’s managed accounts methodology, investment engine and digital delivery platform. The service is expected to launch in the first quarter of 2024 and will feature IRA administration support from IRALOGIX.

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