TOPEKA, KS--(Marketwire - Nov 14, 2011) - Security Benefit Corporation, a Guggenheim Partners Company, today announced it has chosen Mesirow Financial, a diversified financial services firm, to provide its independent fiduciary services to Security Benefit's customers.
Under the agreement, Mesirow Financial's Investment Strategies department will select, monitor, and report on investments available inside select Security Benefit products. In addition, the firm automatically replaces investments that do not meet its rigorous standards.
"By bringing Mesirow Financial's 3(38) fiduciary services to the table, we're able to provide a complete turnkey fiduciary risk-mitigation product for Security Benefit's 401(k) clients and distributors," says Jim Mullery, President of Security Distributors.
Mesirow Financial's investment selection methodology involves an extensive review process and selects an investment line-up corresponding to retirement plan asset classes appropriate for long-term investing.
"Due to their leadership position in ERISA fiduciary services and their understanding of customized solutions for Security Benefit's retirement business, Mesirow Financial brings the investment management rigor wanted by our distribution partners," says Kevin Watt, head of Security Benefit's ERISA market.
"We've worked with Security Benefit to create a program to assist plan sponsors with their fiduciary obligations. With the new 3(38) investment manager service, we are well-positioned to help sponsors better manage their obligations," says Michael Annin, senior managing director of Mesirow Financial's Investment Strategies department.
Security Benefit, which focuses on group and individual retirement plan arrangements, partners with 27,000 licensed and appointed financial planners and representatives through a network of 700 broker/dealers around the nation. The firm was purchased last year by a group of investors led by Guggenheim Partners, a privately held global financial services firm with more than $125 billion in assets under management.
About Security Benefit
Security Benefit, a Guggenheim Partners Company, is a leading provider of retirement plan services throughout the nation, primarily in the education marketplace, and offers a variety of compelling and customized fixed and variable annuity products. The firm's se2 division is an award-winning and nationally recognized provider of administrative services for the insurance and financial services industry. To learn more, go to www.securitybenefit.com.
About Guggenheim Partners
Guggenheim Partners, LLC is a privately held global financial services firm. The firm provides investment management, investment banking and capital markets services as well as insurance and investment advisory solutions for institutions, corporations, governments and agencies, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients from more than 25 offices in nine countries.
About Mesirow Financial
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, we are an independent, primarily employee-owned firm with locations across the country and in London. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit our website at mesirowfinancial.com.
Services are offered through Security Distributors, Inc., a subsidiary of Security Benefit Corporation ("Security Benefit").
Security Benefit and its subsidiaries are not affiliated with Mesirow Financial.
Contact Information:
Laura Parsons
CSG-PR
303-887-2911