Ascensus’ Investment Fiduciary Program Surpasses $1 Billion in Assets

Business Wire

3(21) and 3(38) services offered in partnership with Mesirow Financial reach new milestone

DRESHER, Pa.--(BUSINESS WIRE)-- Ascensus, the nation’s largest independent services provider of retirement and college savings plans, is pleased to announce that its Investment Fiduciary Program, which offers 3(21) and 3(38) fiduciary services to over 700 plans, has surpassed the $1 billion milestone in assets under care.

Through the program, Ascensus and Mesirow Financial Investment Strategies—an independent consulting firm specializing in outsourced fiduciary services—partner to deliver investment fiduciary solutions for financial advisors who want to provide fiduciary protection to their clients. Advisors work from a targeted list of funds to build custom investment menus for their plans based on clients’ objectives and asset-class preferences. 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.

To help clients stay up-to-date with plan performance, the Investment Fiduciary Program provides a regular analysis of plan investments. A quarterly reporting package includes market commentary and a detailed due-diligence document known as the Mesirow Financial POLICE Report^®. The POLICE Report assesses investment performance, organizational changes, legal concerns, investment policy changes, consistency of style, and expenses.

“As the regulatory landscape and industry continue to evolve, we aim to give financial advisors the resources they need to help them meet the changing needs of their clients and retirement plan participants,” states Steve Schweitzer, senior vice president of strategic business support services at Ascensus. “With the added layer of independent fiduciary protection our program offers, they can provide both the guidance that their clients depend on and the coverage that their clients seek.”

About Ascensus

Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 6.5 million Americans save for the future. With more than 35 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 40,000 retirement plans and over 3.5 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts and is home to one of the largest ERISA consulting teams in the country. For more information about Ascensus, visit www.ascensus.com.

View career opportunities at careers.ascensus.com or on LinkedIn at linkedin.com/company/ascensus. For the latest company news, follow @AscensusInc on Twitter.

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 approximately 1,200 employees globally. 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. Mesirow Financial is not affiliated with Ascensus and its affiliates. Mesirow Financial refers to Mesirow Financial Holdings, Inc., and its divisions, subsidiaries, and affiliates. The Mesirow Financial name and logo are registered service marks of Mesirow Financial Holdings, Inc. ©2016, Mesirow Financial Holdings, Inc. All rights reserved. Advisory services offered through Mesirow Financial Investment Management, Inc., an SEC Registered Investment Advisor. For more information, visit www.mesirowfinancial.com.