ProNvest Adds Morningstar Associates to Platform
CHATTANOOGA, TN, September 27, 2010 -- ProNvest, Inc., an online provider of retirement plan participant managed accounts, advice, and tools, expands its Open Platform of Independent Investment Advisors by adding Morningstar Associates, LLC. ProNvest's Open Platform of Independent Investment Advisors allows providers and plan sponsors to choose among a list of industry leaders in the area of portfolio modeling and asset allocation.
"We are pleased to add Morningstar Associates, an industry leader in investment advisory services, to our open platform as it provides an opportunity for our clients to benefit from Morningstar's vast investment expertise," says Jay Jumper, President, ProNvest, Inc.
With a single integration, ProNvest's platform provides plan participants with planning tools as well as access to independent advisors who can make investment-related decisions. As an open-platform provider, ProNvest can accommodate provider or plan sponsor requests for independent third-party advisors by simply linking the advisor to its platform without the need for a new integration or any disruption to plan participants. ProNvest continues to provide all resources and systems to participants, but relies on the independent advisor to create model portfolios.
ProNvest approves and integrates multiple investment advisors/RIAs into its platform, and conducts ongoing due diligence in accordance with the Pension Protection Act of 2006 guidelines. By offering an open platform of investment managers, ProNvest helps plan sponsors fulfill their fiduciary responsibility and helps plan providers address the cost challenges that can occur by offering multiple managed account programs.
About ProNvest
ProNvest is an independent registered investment advisory firm that assists retirement plan participants with a goal-based advice and money management service. ProNvest also provides educational tools, professional account management, investment allocation advice and managed IRA rollovers. Visit www.ProNvest.com for more information.
About Morningstar Associates, LLC. and Morningstar, Inc.
Morningstar Associates, LLC, is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. As of December 31, 2009, Morningstar Associates' retirement services were available to more than 11 million people through approximately 83,000 retirement plan sponsors and 16 plan providers. Morningstar Retirement Manager is offered by and is the property of Morningstar Associates, and is intended for use by citizens and legal residents of the United States and its territories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 360,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 21 countries.
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