Products October 3, 2011

ADP to Provide Mesirow Fiduciary Service to Clients

ADP will make Mesirow Financial’s Fiduciary Partnership service available to its Retirement Services clients, to help them better manager fiduciary liability and mitigate risk.  
Reported by

“Investment decisions hold retirement plan sponsors to extraordinary accountability,” said John Guido, Division Vice President of ADP Retirement Services. “Partnering with the right investment adviser—especially one that helps manage fiduciary liability while offering independent, objective investment expertise and the highest standards of due diligence—is a critical step for plan sponsors and other plan fiduciaries in protecting both  their participants and themselves.”

The service will be made available to all plan sponsors using the ADP Access 401(k) product.

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As part of ADP’s suite of plan support services that it makes available to its clients, Mesirow Financial will provide plan sponsors with fiduciary solutions, including:

  • Mesirow Financial Plan Sponsor Agreement: Reliance on decisions backed by the resources to protect the plan sponsor from third-party lawsuits
  • Mesirow Financial Elite List:  Access to lineups based on a broad, menu-driven list of investment options across many asset classes for which Mesirow Financial takes fiduciary responsibility  
  • Suggested Investment Option Lineups: Optional plan-demographic-based lineups built by Mesirow Financial
  • Mesirow Financial POLICE Report: Quarterly, six-category reporting watch list that keeps sponsors and advisers informed about key issues concerning the investment options in their lineup 
Deals & People October 3, 2011

Consulting Veterans Join Callan Associates

Callan Associates plans to hire former Richards & Tierney (R&T) investment consulting veterans Ann Posey and John Simmons.
Reported by

Posey and Simmons will join the firm as Senior Vice Presidents in Callan’s Fund Sponsor Consulting group in Chicago. Four other hires from R&T—renamed Nuveen Investment Solutions (NIS) in 2008—will also join Callan: Sandra Weiskirch, CFA, Vice President and Senior Quantitative Analyst; Edward Kunzman, Vice President and Director of Investment Analysis; Ann Dee, Vice President of Marketing and Client Service; and Charles McPike, Managing Director and Chief Information Officer.

Simmons is currently President and Managing Director of Nuveen Investment Solutions and helps its clients with issues such as the establishment and monitoring of investment policy, risk budgeting, the structuring of multiple-manager teams, and performance attribution and risk analysis. From 1999 to 2007 he held several roles at R&T, finishing as principal and senior consultant on several of the firm’s institutional retainer relationships. Before joining R&T, Simmons was in equity research and analysis and risk management following his retirement from professional baseball.

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Simmons earned a B.A. in English and an MBA with an emphasis in Financial Trading and Practice, both from Saint Xavier University.

Posey has been in the institutional investment industry for more than 30 years. She is Managing Director and Chief Operations Officer for Nuveen Investment Solutions and Chair of NIS’ Investment Committee. She joined R&T in 1993 as a principal and served as a senior consultant to a broad range of institutional fund sponsor clients. Prior to joining R&T, Posey was Vice President of Kemper Asset Management where she built out and was responsible for the client service efforts for Kemper’s institutional business. Posey began her career at Household International and eventually served as manager of pension investments, responsible for coordinating the investment programs for the firm’s defined benefit plans.

Posey earned a B.A. from Purdue University and an MBA in Finance from DePaul University.

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