Desjardins Financial Security has launched Foresight, a new group retirement savings and investment solution, the company said Thursday.

Foresight combines the flexible and tailored group retirement savings solutions of DFS with Morningstar’s independent expertise in investment research and analysis.

Each fund in a Foresight portfolio is carefully researched, selected and monitored by Morningstar Research Inc., the Canadian subsidiary of Morningstar, Inc.

DFS says Foresight is “the first program of its kind in Canada and is truly a turnkey solution for small- to medium-sized businesses.”

“Foresight is ideal for retirement plan sponsors and their employee participants because it provides accurate research and information about their funds. In this market, this type of investor information is empowering and reassuring,” says Gil McGowan, regional vice president of group retirement sales and development for DFS.

“Foresight is also well-suited for small- to medium-sized businesses because it takes the thinking out of retirement plan management. Instead of concentrating on their employees’ retirement portfolios, they’re able to concentrate on their businesses,” McGowan adds.

Another key advantage of the new product is that it meets with Capital Accumulation Plan (CAP) guidelines. DFS will assume responsibility for the entire plan implementation process and employee support, which includes training, communications, information, transaction tools, statements and reports. Morningstar is responsible for ongoing monitoring of the Foresight portfolios as well as the individual funds in the portfolios.

Morningstar has performed extensive research and due diligence on each of the funds on the Foresight platform, and the portfolios have been carefully constructed to ensure diversification and appropriate risk management. In total, plan participants can choose from 12 funds, six lifecycle portfolios, and three retirement paths.

DFS, a subsidiary of Desjardins Group, employs 3,800 people and administers $19.7 billion in assets.

IE