One of the benefits of the TAG Retirement Program 401(k) Aggregated Solution, is that TAG, as administrative fiduciary, selects and monitors our plans’ 3(38) providers. Pursuant to that responsibility TAG Resources has added Mesirow Financial as the 3(38) Investment Manager on TAG plans formerly monitored by Envestnet.
The decision to choose Mesirow was made to better accommodate TAG’s advisor and client base. The Investment Manager change will not incur any change in fees or any disruption to our Plan Sponsors’ current plans. The addition of Mesirow will not be applicable or impact any plans that have 3(38) Investment Managers other than Envestnet.
Mesirow will monitor the existing Envestnet menu, including the previously scheduled menu update effective 8/22/18. This update will add one new fund: Alliance Bernstein Global Bond and will remove three funds: Eaton Vance Atlanta Cap SMID, Voya Small Company and Principal Diversified Real Asset.
If you have questions or would like further discussion, please contact your TAG Sales Representative.
Mesirow Financial is an independent, employee-owned firm founded in 1937 with 600 employees working from 18 locations around the globe. We focus exclusively on clients. As a privately held company with $326 million in capital(as of 3/31/17), our clients receive independent, objective advice that’s tailored to their specific needs. As a pioneer in outsourced, third party fiduciary services, Mesirow Financial has been supporting plan sponsors since 2006. The firm has over 32.7 billion in assets under management (as of 3/31/17) and $30.8 billion in assets under advisement(as of 6/30/18-includes assets of Mesirow Advanced Strategies, Inc.).
Mesirow Financial refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates.