Through the Retirement Plan Network, Mesirow will provide access to both 3(21) and 3(38) ERISA fiduciary services to support plan fiduciaries. Through the 3(21) service, Mesirow makes recommendations, gives guidance, and monitors investment options selected by the plan advisor and plan fiduciary. In the 3(38) service, Mesirow maintains full discretion over investment options for a plan: selecting, monitoring, and replacing investment options based on the plans investment policy statement.
"One of the top concerns of our clients is the increasing focus on their fiduciary responsibilities and the disclosures and oversight associated with it," said
"Mesirow was selected to collaborate with Pershing's Retirement Plan Network to provide greater scale and capabilities to the broker-dealer community and their advisors. Pershing allows us to reach a broader number of broker-dealers and retirement plan focused advisors that are seeking outsourced solutions to limit investment fiduciary risk. By leveraging Pershing's technology and robust set of client capabilities available through the Retirement Plan Network, advisors are better positioned to support their plan sponsor clients." said
The addition of Mesirow's fiduciary services is the latest enhancement to the Retirement Plan Network platform. In June, Pershing announced the addition of five new recordkeepers. The network offers advisors a comprehensive view of plan details across network recordkeepers for all of their retirement business custodied with Pershing. It also offers access to a variety of retirement plan tools to help advisors increase efficiency in their sales, services and operations of their retirement plan business.
"We are personally invested in making the management of retirement business as seamless as possible for our clients, and the addition of these fiduciary services to Retirement Plan Network is another example of the enhancements we're making to meet their evolving needs," added Caras.
This fall Pershing will begin hosting regional retirement symposiums, starting with an event in September in
For more information about Pershing's Retirement Plan Network, please visit www.pershing.com/rpn .
Pershing and its affiliates provide global financial business solutions to advisors, asset managers, broker-dealers, family offices, registered investment advisor firms and wealth managers. A financial services firm located in 23 offices worldwide, Pershing provides business-to-business solutions to clients representing 6 million active investor accounts on the
About Mesirow Financial Investment Strategies
The Mesirow Financial Investment Strategies team is an independent third-party consultant that provides robust asset allocation strategies and manager selection to defined contribution providers, broker/dealers, registered investment advisors, insurance companies and mutual fund companies. The team is a leading provider of flexible fiduciary solutions to the defined contribution industry, including ERISA 3(21) and 3(38) services. Advisory services offered through
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