Centier Bank Selects Redhawk Wealth Advisors for Open MEP ERISA 3(38) Investment Management Services

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Redhawk Wealth Advisors, Inc., a leading full-service turnkey RIA, has entered into a strategic alliance with Centier Bank, a regional bank and trust company. Under the strategic alliance, Redhawk will serve as the ERISA 3(38) provider for the Centier Open MEP.

Centier’s Open MEP removes the employer as the plan sponsor and trustee for their company’s retirement plan. It reduces the employer’s fiduciary liability by transferring personal liability to an independent fiduciary. Adopting employers can focus their resources on running their business and maintaining their company’s profitability, while at the same time reducing their corporate and personal fiduciary liability. Under the Open MEP, Centier operates as the ERISA 3(16) fiduciary and oversees the governance, risk, and compliance management on behalf of the employer. The MEP offers a lower cost and higher value solution versus traditional 401(k) products.

Redhawk serves as the ERISA 3(38) investment manager and takes over the fiduciary responsibilities of the investments for the plan and participants. Redhawk is responsible for the selection, monitoring and replacement of the investments in the plan. The investments include low cost ETFs and Collective Investment Funds (CIFs) that are fully transparent, as well as model portfolios. Participants have access to professionally-managed portfolios to help them establish and attain their retirement goals.

“We conducted a comprehensive search of top ERISA 3(38) investment managers in the marketplace and Redhawk offered the most comprehensive solution and best sales and service support model for our MEP. We work with many types of advisors and Redhawk’s program and education materials are the best we’ve seen. They are a great firm to partner with and we have similar cultures and objectives. Our Open MEP provides the most fiduciary protection for the employer and eases the burden of running a retirement plan for small businesses,” said James Boyd, Vice President, Wealth Management of Centier Bank.

Dan Hunt, CEO at Redhawk, said, “We are extremely pleased that Centier selected Redhawk as the ERISA 3(38) Investment Manager for their Open MEP. It’s a true endorsement of our capabilities and service support model. We couldn’t ask for a better partner and we look forward to supporting their needs and serving as a fiduciary for the MEP.”

About Redhawk Wealth Advisors
Redhawk Wealth Advisors, Inc. is an SEC Registered Investment Advisor (“RIA”) firm based in Minneapolis, Minnesota. The firm provides wealth management, retirement plan services, and practice management services to independent advisor representatives and their clients. To learn more, visit http://www.redhawkwa.com.

About Centier Bank
Since 1895, Centier Bank has been a trusted and loyal family-owned financial advisor to generations of individuals, businesses, and communities. The Open MEP was developed by Centier’s Strategic Financial Services Team (SFS), which creates institutional products to service the needs of plan sponsors and their participants throughout the country. To learn more, visit http://www.centier.com/sfs.

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Rick Keast

James A. Boyd
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