Morgan Stanley Wealth Management & Ascensus Collaborate to Create ClearFit, A New, Turnkey Retirement Program Specially-Desig...
March 08 2017 - 10:00AM
Business Wire
Morgan Stanley Wealth Management today announced that it has
teamed with Ascensus to develop ClearFit, a leading-edge retirement
program created exclusively for America’s fastest growing segment
of the retirement plan market. This innovative approach delivers
Morgan Stanley’s institutional investment expertise and willingness
to accept the fiduciary responsibility as a 3(38) discretionary
manager to plans of smaller sizes.
ClearFit combines the best of both firms: the comprehensive
fiduciary services and investment management process of Morgan
Stanley with the leading-edge administrative and recordkeeping
services of Ascensus, the nation’s largest independent retirement
and college savings services provider.
“Business owners today have a lot on their plate beyond managing
and growing their businesses,” explains Marc Brookman, Managing
Director at Morgan Stanley Wealth Management. “They recognize the
importance of offering a competitive retirement program to attract
and retain top talent, but generally do not have the time or
resources to administer the complexities of most plans. We take the
burden off their shoulders and onto ours, so they can remain
focused on building their businesses, while giving their employees
a clear and convenient way to plan or prepare for retirement.”
“ClearFit is a smart, contemporary solution for business owners
who want to deliver a retirement program to their employees that
helps them effectively plan for the future,” according to Kathleen
Connelly, Executive Vice President of Client Experience and
Relationship Management at Ascensus. “Partnering with Morgan
Stanley, we have developed a simple approach for employers to meet
their fiduciary responsibilities, while contributing towards the
financial well-being of their employees. Our turnkey platform takes
the complexity out of plan administration, so they can spend more
time focusing on growth strategies for their businesses.”
Morgan Stanley: Fiduciary Services + World-Class Investment
Services
With ClearFit, Morgan Stanley serves as the ERISA Section 3(38)
investment manager, assuming the responsibility for selecting the
plan’s investments which includes oversight and monitoring of the
retirement plan’s fund lineup. Also integral to the new platform is
an investment menu that uses a multi-manager approach and
non-proprietary funds. ClearFit employs target date models that are
based upon Morgan Stanley’s proprietary retirement glidepaths.
These models are used to provide employees with an easy way to
select investments aligned with their goals and timeframe for
retirement.
Ascensus: High-Tech + High Touch Service
Ascensus leverages its expertise to deliver a high-tech,
high-touch experience to help plans remain compliant, offering
advanced administrative services that include:
- Integrated payroll processing with
streamlined data delivery options
- Retirement account withdrawal, loan and
distribution approvals managed by Ascensus
- Delivery of certain required notices
directly to participants’ homes
- Digital and mobile solutions to help
boost employee participation
The result is a retirement platform that is designed for ease,
saving business owners both time and energy.
About Morgan Stanley
Morgan Stanley Wealth Management, a global leader, provides
access to a wide range of products and services to individuals,
businesses and institutions, including brokerage and investment
advisory services, financial and wealth planning, cash management
and lending products and services, annuities and insurance,
retirement and trust services.
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing investment banking, securities, wealth management
and investment management services. With offices in more than 42
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For more
information about Morgan Stanley, please visit
www.morganstanley.com.
About Ascensus
Ascensus is the largest independent retirement and college
savings services provider in the United States, helping over 7
million Americans save for the future. With more than 35 years of
experience, the firm partners with financial institutions to offer
tailored solutions that meet the needs of financial professionals,
employers, and individuals. Ascensus specializes in recordkeeping,
administrative, and program management services, supporting over
47,000 retirement plans and over 3.9 million 529 college savings
accounts. It also administers more than 1.5 million IRAs and health
savings accounts and is home to one of the largest ERISA consulting
teams in the country. For more information about Ascensus, visit
www.ascensus.com.
Investments in target-date models are subject to the risks
associated with their underlying funds. The year in the model name
refers to the approximate year (the target date) when an investor
in the model would retire and leave the workforce. The model will
gradually shift its emphasis from more aggressive investments to
more conservative ones based on its target date. An investment in a
target date model is not guaranteed at any time, including or after
the target date. These models are based on an estimated retirement
age of approximately 65. Should you choose to retire significantly
earlier or later, you may want to consider a fund with an asset
allocation more appropriate to your particular situation.
An investor should consider the investment objectives, risks,
and charges and expenses of the collective investment trusts
carefully before investing. This and other important
information about the trusts is available from your Financial
Advisor or Private Wealth Advisor. This information should
be read carefully before investing.
Morgan Stanley Smith Barney LLC. Member SIPC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170308005722/en/
Morgan Stanley Media:Christy Jockle,
914-225-6827Executive DirectorCorporate
CommunicationsChristine.Jockle@morganstanley.comorAscensus
Media:Roberta Hess, 215-648-1426Vice PresidentMarketing &
CommunicationsRoberta.Hess@ascensus.com
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Feb 2024 to Mar 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Mar 2023 to Mar 2024