SOURCE: July Business Services
July Business Services adds Mesirow Financial’s ERISA 3(21) and 3(38) fiduciary services for qualified retirement plan sponsors
Waco, TX (PRWEB) February 20, 2013
July Business Services, a leading national retirement plan and payroll services provider, announces it has selected Mesirow Financial as its solution partner to offer ERISA Section 3(21) and 3(38) fiduciary services to employers that sponsor qualified retirement plans. JULY now makes Mesirow Financial’s comprehensive fiduciary services available to financial advisors, RIAs, and broker dealers who elect to present them to plan sponsors.
Under the 3(21) service, Mesirow Financial Investment Management, Inc. acts as an investment fiduciary to the plan along with the plan sponsor, who maintains control over the plan's investment menu. Plan sponsors and their investment advisors are provided with an “elite list” of investment options, which is closely monitored by the team and tracked in the quarterly Mesirow Financial POLICE Report®. With the 3(38) service, in addition to investment monitoring and quarterly reporting, Mesirow Financial assumes discretion for investment option selection, acting as an investment fiduciary and investment manager to the plan. Offering both options enhances the customization for investment advisors who have differing business models for serving their clients.
“We need to provide our clients with professional, cost-efficient programs to help them manage their fiduciary responsibilities, reduce risks and improve participant outcomes. Mesirow Financial brings an industry leading quality to their 3(21) and 3(38) programs that advisors and their clients will value,” said John Humphrey, JULY’s COO. He added, “This optional offering complements the fee attestation reports and optional 3(16) ERISA Fiduciary services offered to JULY clients by Roland|Criss, an independent fiduciary consultant. Together, we believe these solutions offer advisors and our mutual clients a meaningful array of choices.”
“We are very excited to be working with July Business Services in the open architecture space,” added Michael Annin, head of the Investment Strategies group at Mesirow Financial. “Their combination of mutual fund and ETF fiduciary solutions represents a uniquely valuable fiduciary offering.”
About Mesirow Financial Investment Strategies
The Investment Strategies team at Mesirow Financial is an independent, third-party consultant that provides robust asset allocation strategies and manager selection to insurance companies, defined contribution providers, broker-dealers and mutual fund companies. The team presents a cohesive process, and demonstrates a thorough understanding of how to help its clients gather, grow and manage assets through changing market cycles. For more information, please visit mesirowfinancial.com/fiduciary.
About July Business Services
July Business Services is a leading retirement plan and payroll services provider that helps financial advisors and their clients design and implement successful benefit strategies. JULY brings independent, expert knowledge to all facets of the retirement plan process from customized plan design to the implementation and ongoing management of the plan. JULY presents advisors and plan sponsors with expansive investment options available under its true open architecture daily platform as well as support for programs of leading national plan providers. For more information about JULY, visit http://www.julyservices.com.
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