Plan sponsors and plan fiduciaries that use the service would add an extra layer of fiduciary protection, with Rockefeller serving as an ERISA 3(38) investment manager.
Tag: 3(38) investment manager
The service model that offers fiduciary, administrative and investment management help is available to plan sponsors, TPAs and retirement plan advisers to assist with designing and managing a 401(k) plan.
Ascensus partners with NextCapital for investment and fiduciary solutions, and Axioma releases Canadian risk model to suite of funds.
The advantages of working with FlexPrecision allow financial advisers to concentrate on market opportunities and to cultivate new business.
It is important for plan fiduciaries to know what to consider for placing a fund on watch or replacing it.
According to Stacy Bucchere, head of defined contribution at Bank of America, 4,100 Merrill Designated Advisors have completed designation requirements and will be able to provide either 3(21) investment adviser or 3(38) investment manager services.
Even among 403(b) plans not governed by ERISA, PLANSPONSOR DC Survey results show that in 2016, 54.3% of plan sponsors reported they have an investment committee for their plans; this jumped to 67.3% in 2017 and 67% in 2018.
Mesirow Financial will serve as the 3(38) investment manager for TAG's 401(k) Aggregated Solution.
The demand for 3(38) investment manager search support and monitoring has moved up market into the range of plans with billions of dollars in assets; smaller plans are seeking cost savings while larger plans are seeking deeper expertise and nimble capabilities.
For the $5 million to $500 million DC plan market, advisers and consultants offering 3(38) discretionary investment advice are more common.