Mesirow Financial and RPG Consultants announced a new “alliance” on Thursday that enables retirement plan sponsors to access Mesirow’s portfolio management capabilities for their defined benefit and defined contribution plans.
Specifically, the companies report Chicago-based Mesirow’s comprehensive investment fiduciary services are now available on New York- based RPG Consultants’ open architecture platform, which offers recordkeeping as well as value-added plan consulting, actuarial and administration services.
With Mesirow Financial's 401(k) plan methodology and implementation technology, the agreement offers plan sponsors a “comprehensive solution to managing fiduciary risk and enhancing the value they offer to participants in their 401(k) and profit sharing plans,” according to the companies.
Integrating fiduciary management services with RPG's platform allows for “extensive retirement portfolio customization at a reasonable cost,” the company says. "With an array of portfolio options that include professionally managed investment models, plan advisors will be able to offer participants a simple tool for allocating their retirement assets.”
In addition, the Mesirow Financial-RPG solution provides a “high level of transparency to plan sponsors and participants.”
“This is another step in our continuous effort to expand the audience for our flexible and cost-efficient fiduciary solutions," “Michael Annin, senior managing director and head of the investment strategies team at Mesirow, said in a statement. “We are excited about the opportunity to partner with RPG Consultants to offer our solution to their plan sponsor and advisor clients.”
Read Plan Sponsors Focus on Fee Disclosure Rules on AdvisorOne.