CHICAGO, Sep 10, 2001 Morningstar Associates, LLC today announced that Federated Investors, one of the country's largest money-management firms, has selected Morningstar® ClearFutureSM as its online retirement-advice provider. Federated will make ClearFuture available to its Retirement Solutions clients. This client base includes more than 450 retirement plans covering more than 75,000 participants serviced by its internal record-keeping and administrative unit. The service will also be offered to customers of InvestLink Technologies, which provides an online record-keeping technology platform to a broad network of Third Party Administrators.
"We're delighted to work with Federated," said John Rekenthaler, president of Morningstar's Online Advice business. "Federated Retirement Solutions is a leading provider of record keeping and administration and technology to the defined contribution marketplace. Their choice of ClearFuture demonstrates an ongoing commitment to helping their partners and plan participants make better investment decisions."
Federated's record-keeping and technology clients will have the choice of two levels of advice for their participants--an option for participants to choose their own mutual funds based on asset allocation guidance from Morningstar ClearFuture, or for participants to receive specific investment recommendations. With either option, investment guidance is based on the fundamental portfolio analysis made possible by Morningstar's proprietary database of more than 35,000 mutual funds, stocks, variable annuities, closed-end funds, and separate accounts.
"With Morningstar ClearFuture, Federated Retirement Solutions has added the most comprehensive online advice solution to our continuum of retirement-product offerings," said Larry Caracciolo, president of Federated Retirement Solutions. "ClearFuture gives us the flexibility we require, coupled with implementation and service expertise that will allow us to quickly meet our clients' needs."
Morningstar ClearFuture is currently available through more than 14,000 corporate retirement plans throughout the United States. The service offers sophisticated research, education, investment guidance and advice to all levels of investors. It is fully integrated with Morningstar's proprietary stock and managed-portfolio databases. This integration allows ClearFuture to provide asset-allocation suggestions or specific investment advice that takes into consideration all of an individual's retirement assets. ClearFuture creates diversified, optimal portfolios using the best investment options available in the participant's company-sponsored retirement plan(s).
About Morningstar Associates, LLC
The Morningstar® ClearFutureSM retirement advice program is provided by Morningstar Associates, LLC, a registered investment advisor and a wholly owned subsidiary of Chicago-based Morningstar, Inc., an independent provider of unbiased investment information and analytical tools. Morningstar Inc.'s extensive line of Internet, software, and print services offers news, data, and analysis on stocks, mutual funds, closed-end funds, and variable annuities. Neither Morningstar Inc., nor Morningstar Associates, LLC, owns and operates, or holds any interest in investment products. The financial data and methodology used in ClearFuture are proprietary to Morningstar, Inc., and Morningstar Associates, LLC. Although the data are gathered from reliable sources, neither Morningstar, Inc. nor Morningstar Associates, LLC guarantees their accuracy, completeness, or timeliness. Past performance is no guarantee of future performance.
About Federated Investors, Inc.
Federated Investors, Inc. is a world-class investment manager and one of the largest mutual fund companies in the United States, managing approximately $146 billion in 138 mutual funds and 60 separate accounts as of March 31, 2001. Based on open-end managed assets, Federated ranks in the top two percent of money market fund managers in the industry, the top four percent of equity fund managers and the top five percent of bond fund managers.* Financial professionals nationwide invest in Federated's equity, international/global, bond and money market fund products on behalf of individual investors and institutions.
Federated Retirement Solutions, a division of Federated Investors, is an organization that unites the wide-ranging retirement businesses of Federated to provide best-in-class investments, technology, record keeping and administrative services to all segments of the retirement marketplace. InvestLink provides the technology infrastructure Federated Retirement Solutions has built for the market place. Federated Retirement Plan Services offers daily record keeping services for defined contribution plans, including 401(k), profit sharing, and money purchase plans.
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*Based on assets under management, Strategic Insight 5/31/01.