Updated 2026-03-20
Lincoln Financial vs Morgan Stanley 401(k) Comparison
Compare Lincoln Financial (#17, 6.9/10) and Morgan Stanley at Work (#19, 6.8/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Lincoln Financial | Morgan Stanley |
|---|---|---|
| Overall Score | 6.9/10 | 6.8/10 |
| Rank | #17 | #19 |
| AUM | $350 billion | $6.2 trillion |
| Participants | 8 million | 6 million |
| Plan Sponsors | 10,000+ | 15,000+ |
| Founded | 1905 | 1935 |
Ratings Comparison
| Category | Lincoln Financial | Morgan Stanley |
|---|---|---|
| Fees & Costs | 3.3/5 | 3.0/5 |
| Investment Options | 3.8/5 | 4.5/5 |
| Customer Service | 3.9/5 | 4.1/5 |
| Mobile App | 3.4/5 | 4.0/5 |
Fee Comparison
| Fee Type | Lincoln Financial | Morgan Stanley |
|---|---|---|
| Admin Fees | Varies by plan size | Varies by plan size and services |
| Expense Ratios | 0.10% - 1.5% | 0.03% - 1.5% |
| Trading Fees | Plan dependent | $0 for stocks/ETFs via E*Trade |
| Advisory Fees | 0.40% - 1.0% | 0.50% - 1.5% |
Lincoln Financial Strengths
- Strong guaranteed income and annuity options
- Insurance-backed stability
- Lincoln Director platform for plan sponsors
- Managed account services through Lincoln Alliance
Morgan Stanley Strengths
- Access to Morgan Stanley financial advisors
- E*Trade self-directed brokerage window
- Full wealth management integration
- Stock plan and equity compensation expertise
Rollover, Loans & Withdrawals
| Feature | Lincoln Financial | Morgan Stanley |
|---|---|---|
| Rollover Platform | Lincoln Financial Portal | Morgan Stanley at Work Portal |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Lincoln Financial portal, Phone (800-454-6265), Through plan administrator | Online via Morgan Stanley portal, Phone (800-869-3326), Through Morgan Stanley financial advisor, Branch office visit |
| Distribution Options | Lump sum, Partial withdrawal, Annuity conversion, Installment payments, Rollover to IRA, Required Minimum Distributions | Lump sum, Partial withdrawal, Systematic withdrawals, Rollover to IRA, Required Minimum Distributions |
Which Should You Choose?
Choose Lincoln Financial if you want:
- Companies wanting guaranteed income options
- Insurance-focused employers
- Mid-size to large plans
- Annuity seekers
Choose Morgan Stanley if you want:
- Companies with stock plans
- Employees wanting full brokerage access
- High-net-worth participants
- Self-directed traders
Our Verdict: Lincoln Financial vs Morgan Stanley
Lincoln Financial wins this comparison with a score of 6.9/10 vs 6.8/10. Lincoln Financial excels with strong guaranteed income and annuity options, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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Lincoln Financial vs Morgan Stanley: Complete 401(k) Comparison for 2026
Choosing between Lincoln Financial and Morgan Stanley at Work for your 401(k) is an important decision that affects your retirement savings. Lincoln Financial offers top 10 recordkeeper while Morgan Stanley is known for wealth management. In terms of fees, Lincoln Financial charges 0.10% - 1.5% expense ratios compared to Morgan Stanley's 0.03% - 1.5%. Lincoln Financial manages $350 billion in assets and serves 8 million participants, while Morgan Stanley has $6.2 trillion AUM and 6 million participants.
Key Differences: Lincoln Financial vs Morgan Stanley
When comparing Lincoln Financial and Morgan Stanley, consider their core strengths: Lincoln Financial excels with strong guaranteed income and annuity options, while Morgan Stanley stands out for access to morgan stanley financial advisors. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Lincoln Financial's customer service rating is 3.9/5 compared to Morgan Stanley's 4.1/5. For mobile experience, Lincoln Financial scores 3.4/5 while Morgan Stanley scores 4.0/5.
Which Provider is Right for You?
Choose Lincoln Financial if you prioritize companies wanting guaranteed income options. Choose Morgan Stanley if you're looking for companies with stock plans. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Lincoln Financial and Morgan Stanley provider pages.
Frequently Asked Questions
Lincoln Financial scores higher in our 2026 rankings with 6.9/10. Lincoln Financial is best for companies wanting guaranteed income options, while Morgan Stanley is best for companies with stock plans. The right choice depends on your employer's plan and your priorities.
Lincoln Financial charges expense ratios of 0.10% - 1.5% with admin fees of Varies by plan size. Morgan Stanley charges 0.03% - 1.5% expense ratios with admin fees of Varies by plan size and services. Lincoln Financial's fees rating is 3.3/5 compared to Morgan Stanley's 3.0/5.
Yes, you can roll over between Lincoln Financial and Morgan Stanley. Lincoln Financial uses Lincoln Financial Portal for rollovers, while Morgan Stanley uses Morgan Stanley at Work Portal. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Lincoln Financial offers 401(k) loans. Morgan Stanley offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Lincoln Financial scores 3.8/5 for investment options, while Morgan Stanley scores 4.5/5. Both offer target-date funds, index funds, and managed accounts. Lincoln Financial's investment options include Mutual Funds, Target Date Funds, Fixed Annuities. Morgan Stanley offers Mutual Funds, Target Date Funds, Index Funds.
For small businesses, consider plan minimums and per-participant costs. Lincoln Financial is best for companies wanting guaranteed income options, insurance-focused employers, mid-size to large plans, annuity seekers. Morgan Stanley is best for companies with stock plans, employees wanting full brokerage access, high-net-worth participants, self-directed traders. Compare admin fees: Lincoln Financial charges Varies by plan size vs Morgan Stanley's Varies by plan size and services.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-20