SOURCE: Midwest Capital Advisors, LLC

September 14, 2009 08:30 ET

Midwest Capital Advisors Selected as 'Single Source' Retirement Plan Services Provider for 250 School Districts Across State

Michigan Retirement Investment Consortium Selects GR Firm as the 'Single Source' Investment Provider to Assist in Managing Nearly $1 Billion in Retirement Assets

Midwest Capital Advisors Touts Independence, New Approach to Investing That Bucks the Traditional Practices of Wall Street Firms

GRAND RAPIDS, MI--(Marketwire - September 14, 2009) - Midwest Capital Advisors (MCA) of Grand Rapids has been selected as the "Single Source" provider of 403(b) and 457 retirement plan investments by the Michigan Retirement Investment Consortium (MRIC) for 250 member school districts representing nearly 120,000 school system employees across Michigan.

MCA successfully competed for the "Single Source" designation against approximately 20 other investment firms, including many large national companies. MCA now has plan participants from over 125 of the state's school systems, ranging from Menominee to Monroe and Sault Ste. Marie to St. Joseph. Along with choosing MCA as the "Single Source" provider, MRIC also selected five other firms to offer financial services to member district employees.

MRIC was formed in 2008 to meet the challenges posed by 403(b) plan regulations that became effective on January 1, 2009 and to find ways to improve quality and pricing of investment offerings available to employees of its member districts. MRIC has now grown to 250 school districts having some 120,000 employees, which MCA estimates could potentially represent over $1 billion in retirement assets.

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.

"This is a tremendous opportunity for us," said Jeff Gietzen, one of MCA's founders. "It is very gratifying to have our client-focused philosophies, strategies and investment solutions validated by such a broad and esteemed group of educators and administrators. Equally rewarding is the tremendously positive response we have had from school employees." Mr. Gietzen went on to say, "Up until now, most financial services firms that have worked with teachers and other school employees in Michigan have been insurance companies, brokerage firms and other companies whose focus has been on selling investors a product or limited range of investment offerings on which they were paid a commission. MCA is different in that we offer investment solutions, not products. And, we take no commissions or other fees from any brokerage firm, mutual fund company or other financial firm so our clients can count on objective offerings and advice -- they like that."

Added Hank Swain, also a founder, "We believed that investors would be looking for a fresh perspective on investing and would be attracted to our independence, low fees and creative, disciplined and diversified investment solutions. We were right."

With the precarious state of social security and continuing pressures on school budgets that fund employee pensions, MCA believes that all employees should take an increasingly active and responsible role in their financial futures, particularly retirement. This means not only enrolling in 403(b) and 457 plans that are available to them, but taking advantage of tax deferral benefits by contributing a portion of their salary to their account on a regular basis.

"It also means selecting the right provider to help you attain retirement security," said George Wanty, a co-founder and MCA's Chief Investment Strategist. "Past generations have been able to rely on employer-sponsored pension plans and social security, but those days are over," he said. "Virtually everyone needs to create a financial and investment road map that they can take responsibility for if they want to be able to enjoy the retirement lifestyles that past generations have taken for granted."

MCA 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 Mr. Wanty. "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."

ABOUT MIDWEST CAPITAL ADVISORS

http://www.midwestcap.com/

Midwest Capital Advisors is a western Michigan registered investment advisor that focuses on the investing needs of individuals and organizations (profit and-not-for-profit), with a special emphasis on retirement plans. MCA was founded in 2003 by George Wanty, Hank Swain and Jeff Gietzen, who bring a diverse investment, professional and business base of experience and common sense to the otherwise complex and often confusing world of investing.

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