Minneapolis, MN (PRWEB) April 08, 2016
Redhawk Wealth Advisors, Inc., a leading full-service registered investment advisor, was selected by Fringe Benefits Design to serve as an independent ERISA investment fiduciary to over 400 plans representing $750M in plan assets. In this capacity, Redhawk will utilize the E-Valuator application to provide ERISA 3(38) investment management and 3(21) investment advisor services. Redhawk will be responsible for performing the due diligence, selection, monitoring and replacement of investments for the plans.
An ERISA investment fiduciary shifts the responsibility to prudently select and monitor the plan’s designated investment alternatives from the plan sponsor to an independent third‐party fiduciary. In addition to mitigating fiduciary liability for plan sponsors, an ERISA investment fiduciary allows the advisor to support clients by providing investment education and other non‐fiduciary services and work more holistically with plan participants (e.g., providing financial planning and IRA rollover services) without the constraints imposed upon fiduciaries under ERISA.
“We conducted comprehensive due diligence on the top investment fiduciaries and were extremely impressed with the fiduciary services provided by Redhawk. In light of the new DOL fiduciary rule, we felt that it was important for all of our plans to have this fiduciary oversight.” said Kevin Miller, President/CEO of Fringe Benefits Design.
“We are extremely pleased that Fringe Benefits Design selected Redhawk as their investment fiduciary and we look forward to working closely with their plans. Our fiduciary services have been gaining tremendous traction in the retirement plan and wealth management marketplace and utilizing the E-Valuator will strengthen our offering.” said Rick Keast, President of Redhawk Wealth Advisors. “With the new DOL rule coming out, advisors have been contacting us because of our strong fiduciary oversight process is compliant under the new rule. Advisors don’t have to worry about how the new rule is going to impact their business, we’ve already figured it out for them” said Dan Hunt, CEO of Redhawk Wealth Advisors.
About Redhawk Wealth Advisors
Redhawk Wealth Advisors, Inc. is an SEC Registered Investment Advisory (“RIA”) firm based in Minneapolis, Minnesota. The firm provides wealth management, retirement plan, and practice management services to independent advisor representatives and their clients. To learn more, visit http://www.redhawkwa.com.
About Fringe Benefits Design
Fringe Benefits Design is located in Minneapolis, Minnesota and provides actuarial, benefits and consulting services on an independent, fee-for-service basis. The firm has been providing comprehensive recordkeeping and administrative services for over 25 years and currently services over 400 plans representing $750M in plan assets. To learn more, visit http://www.fbdmn.com.
E-Valuator is a software and development firm located in Minneapolis, Minnesota. The firm has developed the E-Valuator application that provides industry leading investment selection, monitoring and replacement analysis to the financial services industry. To learn more, visit http://www.e-valuator.com.