A unit of Guardian Life Insurance Company of America has hired Fairway Wealth Management L.L.C. to help employer clients make sense of retirement plan investment menus.[@@]
The Guardian unit, Guardian Insurance & Annuity Company Inc., will be arranging for Fairway, Cleveland, to act as an independent registered investment advisor for employers that use the newly reintroduced Guardian Advantage group variable annuity contract to fund retirement plans.
Fairway will issue quarterly and annual reports about the investment funds available through the contract, and it will hold quarterly conference calls to review the reports with retirement plan sponsors and other plan fiduciaries, according to Guardian, New York.
The service will help plan fiduciaries meet their legal obligations to monitor plan investment options, Guardian says.