Strategic Retirement Partners has selected Securian Financial as the pooled plan provider and recordkeeper for their WELLthBUILDER pooled employer plan.
The WELLthBUILDER PEP offers broad and flexible plan design capabilities so each individual employer can select provisions best suited for their needs, according to a May 19 announcement. As part of serving as the pooled plan provider, Securian will also serve as an ERISA 3(16) fiduciary, while SRP will provide ERISA 3(38) investment management and consulting services for the platform.
“We are honored to work with Strategic Retirement Partners as the primary recordkeeper for the WELLthBUILDER PEP,” said Ted Schmelzle, Second Vice President for Retirement Solutions at Securian Financial. “We believe our long-standing fiduciary-friendly offerings and solid record as a 3(16) fiduciary, along with SRP’s consulting and investment expertise, will offer maximum protection and less work for our shared clients.”
“At SRP, we really pride ourselves on our deep institutional knowledge of all things ERISA,” adds Strategic Retirement Partners’ CEO Jeff Cullen. “During our extensive selection process, we were hoping to find a 3(16) fiduciary who shared that same level of enthusiasm towards ERISA compliance and governance, and we found that in Securian Financial. We’re confident that this relationship and WELLthBUILDER will deliver on the potential of PEPs and delight our clients.”
