Union Bank of California's retirement plan services division, SelectBenefit, hired Morningstar Associates to provide investment advice and guidance for plan participants, according to a press release from the bank. The service, which will be available on the SelectBenefit website, at www.selectbenefit.com, provides asset allocation recommendations and will be a standard feature for all SelectBenefit clients. Plan sponsors can also opt to offer the advice tool, which makes specific securities recommendations from among the plan's available investment options.
SelectBenefit offers bundled and unbundled services for plan sponsors with more than $1 million in assets.
