Great Gray Secures flexPATH CIT Fund Sub-Advisory Assets
Great Gray Group on Friday afternoon announced its purchase of flexPATH assets used to provide sub-advisory services to certain Great Gray collective investment trusts (CITs), including the rights to the flexPATH brand.
As part of the transaction, Great Gray will move certain investment management services that were previously provided by flexPATH in-house. The CIT provider has served as trustee of flexPATH sub-advised CITs since its start over 10 years ago.
“This is the latest example of the investments we’re making in our business to serve plan sponsors and participants,” said Rob Barnett, president and CEO of Great Gray Group, in a statement. “In keeping with our commitment to excellent service, we’re bringing proven talent onto our existing teams while maintaining the continuity and quality that clients expect from the CITs previously sub-advised by flexPATH. Combined with our distribution reach across thousands of advisors and institutions nationwide, this positions us to deliver enhanced coverage and hands-on guidance at national scale.”
The latest arrangement signals the end of flexPATH’s CIT fund sub-advisory business. Moving forward, flexPATH will keep a portion of its team and continue operating its 3(38) retirement plan advisory business independently. FlexPATH professionals who have “valuable expertise” have also joined existing teams at Great Gray, the announcement noted.
A joint statement from Vince Giovinazzo, CEO of flexPATH, and Nick Della Vedova, President of flexPATH, said, “We are proud of the innovative products, excellent service and growth we have helped deliver over the past decade as a sub-advisor to the Great Gray CIT funds. This transition allows the flexPATH sub-advised CITs to continue to flourish under Great Gray’s fiduciary stewardship.”
Plan sponsors and participants can expect to receive the same services without disruption, the companies stated in the release.
The Great Gray CITs represent $269.8 billion in assets as of September 30, 2025.
SEE ALSO –
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
