Mesirow announces a technology and fiduciary automation solution for broker-dealers to assist with their fiduciary management. Cetera® Financial Group has signed on to become the initial partner.
Launched in response to the needs of the broker-dealer community, Mesirow Financial Fiduciary Automation Service Technology (Mesirow Financial FAST®) provides broker-dealers the same robust automation and compliance engine that Mesirow uses to service its own 3(21) and 3(38) outsourced fiduciary service clients.
Launched today, Mesirow Financial FAST® serves as the integration and compliance engine behind Cetera® Financial Group’s Investment Fiduciary Manager program.
“As a leader in outsourced fiduciary services, we continue to develop robust automated solutions in response to the needs of retirement plan stakeholders and have successfully implemented a number of key technology and compliance infrastructure enhancements throughout the defined contribution marketplace,” said Michael Annin, Head of Fiduciary Solutions at Mesirow. “We are delighted to partner with Cetera and give their advisors access to technology to efficiently service their retirement plan clients.”
Mesirow Financial FAST® is a fiduciary automation program designed to help broker-dealers enter the outsourced fiduciary market in partnership with a pioneer in fiduciary outsourcing. Mesirow Financial FAST® provides:
- Automated deliverables, customized to the broker-dealer's branding requirements, sent directly to advisors and plan sponsors.
- Flexible business models for both 3(21) and 3(38) fiduciary program delivery.
- Automated plan-level compliance checks, home office reporting and trade instruction delivery to participating recordkeepers ensuring fiduciary coverage at all times.
- Powerful compliance engine and advisor portal provides home offices with the tools to monitor their entire fiduciary business.
- Ability to implement a broker-dealer’s investment due diligence process across any number of recordkeepers, including bulk trade instructions for large blocks of plans converting to the fiduciary program.
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices in 21 cities, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking and Advisory Services, we invest in what matters: our clients, our communities and our workplace culture. For more, visit mesirow.com.
Mesirow Financial Fiduciary Solutions is a division of Mesirow Financial Investment Management, Inc., an SEC-registered Investment Advisor.
Since 2006, Mesirow Financial Fiduciary Solutions has provided outsourced plan-level ERISA 3(21) and 3(38) fiduciary services, custom portfolio and asset allocation programs, participant managed accounts and fiduciary automation solutions through defined contribution providers, insurance companies, broker-dealers and registered investment advisors. As a pioneer of outsourced fiduciary services, Investment Strategies has experience developing complex fiduciary partnership programs customized for each of our provider partners and delivered to plan sponsors and advisors through a simple, flexible program