How retirement advisors grow their business

Powered by a network of more than 25 plan providers, Plan Advantage helps advisors prospect and obtain pricing, manage plan lineups, and access detailed investment information—all from one place. 

Take advantage of a comprehensive tool designed to help streamline your retirement plan business. Explore the benefits of Plan Advantage.

Support Advisors’ Growth

Provide a scalable service that allows advisors to easily create lineups for prospects, manage their existing plans, and grow their business.

Help Reduce Your Risk

Select from a range of fiduciary options, including our 3(21) and 3(38) services, to maintain consistency across your business. Compliance alerts and plan reports can help you identify and mitigate potential compliance issues.

Gain Key Insights

Stay up to date on your firm’s retirement plan business through readily available reports, metrics, and communications.

An illustration showing a lineup setup interface in Plan Advantage.

An illustration showing a reports and fund memos interface in Plan Advantage.

Use Cases

Manage, grow, and streamline your retirement plan business. Our centralized online dashboard gives you insight into your clients’ and prospects’ investment needs.

Investment Monitoring

Oversee All of Your Retirement Plans

View live plan data and reports, propose changes to investment menus, and monitor the compliance-related health of your clients’ lineups.

Just-In-Time Data

Research Available Funds

Research approved funds and their performance by provider products to help you build and adjust investment lineups for your clients and prospects.

Just-In-Time Data

Build Lineups for Prospects

Access prebuilt investment lineups, design them from scratch using approved fund lists, or check the compliance of existing lineups to help you minimize disruption to a client’s or prospect’s plan.

Features

Capabilities that help you grow your retirement business, all in one centralized space.

An illustration showing a quarterly plan performance report interface in Plan Advantage.

Integrated Data

Access high-quality, up-to-date data and reporting information to help you make informed decisions for your plans.

An illustration showing a fund status interface in Plan Advantage.

Real-Time Fund Performance

Check to see if a fund is approved, on-watch, or unapproved in an easy-to-scan dashboard.

An illustration showing a core menu design interface in Plan Advantage.

Suite of Lineup Customization Options

Choose from different levels of customization to build plan lineups your way.

Insights

Research

05 min

The Morningstar Center for Retirement & Policy Studies

Research

03 min

Retirement Plan Landscape Report

Research

47 min

The Impact of Managed Accounts on Participant Savings and Investment Decisions

Let’s collaborate

Connect with a Morningstar professional

©2025 Morningstar Investment Management LLC. All rights reserved. The Morningstar name and logo are registered marks of Morningstar, Inc. Morningstar® Plan Advantage^SM is offered by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., and is intended for financial professionals working with, or sponsors of, retirement plans subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), unless exempt therefrom, or other state or federal laws governing retirement plans. The investment advice delivered through Morningstar Plan Advantage is provided by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., or an affiliate, or a third-party who has licensed the Morningstar Plan Advantage software for their own use. The Morningstar name and logo are registered marks of Morningstar, Inc.

Advisor Managed Accounts is offered by Morningstar Investment Management LLC and is intended for citizens or legal residents of the United States or its territories. The portfolios available through Advisor Managed Accounts are created by an investment adviser (the “IA”) chosen by a plan sponsor. Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., is responsible for participant portfolio assignment from those portfolios created by the IA. The IA is not affiliated with Morningstar Investment Management and Morningstar Investment Management is not responsible for the portfolios the IA creates. The IA is not responsible for the portfolio selection made by Morningstar Investment Management, nor for other recommendations made by Morningstar Investment Management through Advisor Managed Accounts. Investment advice delivered by Morningstar Investment Management is based on information provided and limited to the investment options available in the retirement plan. Projections and other information regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results, and are not guarantees of future results. Results may vary with each use and over time.

All investments involve risk, including the loss of principal. There can be no assurance that any financial strategy will be successful. Morningstar Investment Management does not guarantee that the results of their advice, recommendations or objectives of a strategy will be achieved.