Using Ascensus’ open architecture investment platform as the basis, Mesirow Financial assumes fiduciary responsibility for identifying and monitoring suitable investment options for participating retirement plans.
“With this added layer of independent fiduciary protection for plan sponsors, financial advisors are able to provide both the guidance their clients depend on and the coverage their clients are seeking,” states Bob Guillocheau, president of Ascensus.
"Fiduciary liability is an area of concern for both plan sponsors and financial advisors. Our service is designed to provide fiduciary assistance to the plan sponsor without disrupting the role of the financial advisor,” says Michael Annin, managing director of Mesirow Financial Investment Strategies.
To further support the plan sponsor’s fiduciary responsibilities, Mesirow Financial will deliver a quarterly reporting package, including market commentary and a detailed due-diligence report known as the “Mesirow Financial POLICE Report™.” The report covers investment performance, organizational changes, legal concerns, investment policy changes, consistency of style and expenses.
With more than 30 years of industry experience, Ascensus delivers high-quality solutions for every segment of the retirement plan marketplace. A division of Crump Group, Inc., a leading provider of retirement services and the largest, most diversified wholesale insurance distributor in the U.S., Ascensus services nearly 27,000 defined contribution plans in the micro to large markets and administers over 1.5 million IRAs. Core capabilities include ERISA consulting, compliance support, sales, trust services, multilingual participant education, training and documentation. Solutions are offered with open architecture investment capabilities tailored to the needs of institutional partners, third party administrators, financial advisors, plan sponsors and participants. Learn more at www.ascensus.com.
About Mesirow Financial
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with more than $43 billion in assets under management and more than 1,200 employees in locations across the country and in London. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For the fiscal year ended March 31, 2010, the firm posted $526 million in revenue, with more than $297 million in capital. For more information about Mesirow Financial, visit its web site at mesirowfinancial.com. The Investment Strategies Group is a division of Mesirow Financial Investment Management Inc., a SEC-registered Investment Advisor.