Midwest Capital Advisors Wins Mich. School District Business

Midwest Capital Advisors (MCA) of Grand Rapids, Michigan, has been selected as the provider of 403(b) and 457 retirement plan investments by the Michigan Retirement Investment Consortium (MRIC).

MRIC consists of 250 member school districts representing nearly 120,000 school system employees across Michigan. It was formed in 2008 to meet the challenges posed by new 403(b) plan regulations and to find ways to improve quality and pricing of investment offerings available to employees of its member districts, according to a press release.

MCA successfully competed for the “Single Source” designation against approximately 20 other investment firms. “The goal of the ‘Single Source’ concept was to find one provider that offered participants the best combination of investment offerings and competitive fees so that a participant could effectively invest his or her entire retirement plan account with a single investment provider,” the release said.

MCA said it has invested considerable resources in developing tools and investment offerings that assist participants in not only assessing their current situation and their objectives, but also advising and helping them choose and implement investment solutions that best suit their needs.

“This gives them a definite sense of empowerment over their financial future, something that has not existed on a broad basis in the past,” said George Wanty, a co-founder and MCA’s chief investment strategist, in the press release. “One of the greatest rewards for me and my colleagues is to see the satisfaction our clients have in gaining the understanding of how investment success is achieved and assisting them in confidently proceeding down the path that can best get them there.”