Retirement plan provider 401GO and Mesirow, a financial services firm, are partnering to offer 3(38) fiduciary services to 401GO clients.
Advisors will be able to access Mesirow’s 3(38) fiduciary services through the 401GO retirement platform. Mesirow will also introduce upcoming enhancements like custom default solutions and broader lineup fiduciary and reporting solutions to the platform, the firm stated.
As a technology-driven firms, 401GO Chief Growth Officer Stan Smith and President of Mesirow Fiduciary Solutions Michael Annin believe the partnership underscores efforts to provide modern solutions for small and medium-sized retirement plans.
“As forward-thinking leaders in the retirement industry and with a digital integration, we anticipate this partnership will drive better participant engagement and outcomes,” said Smith in a comment to 401(k) Specialist.
Financial advisors will still be able to use 401GO as a 3(38) fiduciary under sister company GOInvest and may continue to create their own investment lineups from 401GO’s open architecture platform as well as engage with asset management firms.
“We’re excited to have 401GO as a new partner and are impressed with their technology-based business model,” added Annin. “We look forward to working with 401GO to help their platform grow.”
The partnership is the second from 401GO this year. In February, the retirement plan provider announced its collaboration with isolved, a human capital management (HCM) technology solution, to offer retirement plans within the company’s cloud network. The partnership would ease compliance burdens while reducing administrative tasks for 189,000 employers who service 7.7 million employees.
401GO specializes in retirement planning solutions for small and medium sized businesses (SMBs). Mesirow is an independent, employee-owned financial services firm founded in 1937 and headquartered in Chicago. The firm offers services within its Global Investment Management, Capital Markets & Investment Banking, and Advisory Services divisions.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
