Defined contribution providers offer robust platforms of investment options to plan sponsors through you, the financial advisor. New regulations proposed by the Department of Labor may more clearly define your role as a fiduciary if you provide investment advice to plan sponsors.
Mesirow Financial's Fiduciary Partnership service provides the tools necessary to appropriately select and monitor the many funds available to plan sponsors, enabling you to better serve your clients.
How Can Mesirow Financial Support You?
Help you do it:
- The Elite List – a broad menu of approved funds across many asset classes on the defined contribution provider's platform for which Mesirow Financial takes fiduciary responsibility. If you are comfortable providing investment advice to plan sponsors, but still want to offload some fiduciary risk, the Elite List is most appropriate for you.
Do it for you:
- The Basic, Standard and Advanced Suggested Fund Lineups – plan-demographic-based lineups built by Mesirow Financial. If you are not comfortable choosing funds and providing investment advice to plan sponsors, the Suggested Fund Lineups are most appropriate for you.
Mesirow Financial empowers me:
- With either approach, you remain the key business contact for the plan sponsor.
- Each quarter, Mesirow Financial will provide the Mesirow Financial POLICE Report®, which monitors all investment options covered by the Fiduciary Partnership service both quantitatively and qualitatively.
As detailed in the agreement between Mesirow Financial and the plan sponsor, Mesirow Financial will perform and defend its duties and obligations with respect to investment option monitoring in compliance with ERISA. This agreement protects the sponsor from certain third-party lawsuits arising from issues regarding investment option selection and monitoring.
Why use the Fiduciary Partnership Service?
- Defends all claims within the scope of its fiduciary duty on behalf of the plan sponsor
- Helps reduce client turnover, increase plan retention and new sales
- Is independent, diversified, well capitalized and properly insured for these services
- Utilizes the PrecisionAlpha® process, a proprietary quantitative manager selection methodology
- Conducts in-depth qualitative manager due diligence
- Delivers the Mesirow Financial POLICE Report®, a quarterly investment watch list
- Provides on going sales training and marketing support to drive a successful partnership
Where Can I Learn More?
To better understand if a third-party fiduciary is right for you, please review our Fiduciary Partnership for Advisors Frequently Asked Questions.
You may also view our Fiduciary Partnership User Guide, which explains the choices available and how they can work for you.
*The specific legal protection offered by Mesirow Financial is governed by the agreement between Mesirow Financial and the plan sponsor. Nothing herein is intended to modify such agreement.