Press Release (ePRNews.com) - Dallas, TX - Mar 15, 2017 - The Employee Retirement Security Act (ERISA) emphasizes that responsible retirement plan sponsors must act prudently and solely in the interest of plan participants and beneficiaries when selecting and monitoring service providers and plan investments. These ERISA requirements have created a surge in new business for Commerce Street Peak Advisors (“CSPA”).
CSPA’s retirement plan solutions include 401(k), 403(b) and 457 programs which address the need for employers to utilize fiduciary investment managers to assist them in meeting new ERISA fiduciary requirements by providing reasonable fees, more transparency and mitigating potential conflicts of interest within the programs.
CSPA began offering ERISA compliant retirement solutions to many of its banking clients in 2015. More recently, employers beyond the banking industry also began embracing CSPA’s retirement plan solutions.
“CSPA’s retirement plan advisory business has expanded dramatically over the last year. Our clients currently include law firms and service providers in addition to banks,” said Dory Wiley. “This demand reflects how organizations are taking the ERISA regulations
It has been widely reported that multiple lawsuits are being filed on behalf of retirement plan participants against corporations such as Allergan, JC Penny and Starwood. Financial advisory firms such as Aeon Hewitt, Fidelity and New York Life have also been named in suits.
“In addition to reassuring employers that they are compliant with ERISA fiduciary requirements, Peak Advisors’ retirement plan platforms offer comprehensive and cost-effective solutions for 401(k), 403(b) and 457 plans that are professionally managed, risk-based portfolios,” Wiley said. “We are providing unbundled services and thereby offering lower management fees, transparent investment policy programs and better participant education.”
Commerce Street Peak Advisors is acting in the capacity of a 3(21) Investment Consultant and/or a 3(38) Discretionary Investment Manager in offering these retirement solutions.
About Commerce Street Investment Advisors
Commerce Street Investment Advisor (“CSIA”), dba Commerce Street Peak Advisors (“CSPA”), a wholly-owned subsidiary of Commerce Street Holdings LLC, a Texas limited liability company and SEC-registered. CSPA provides quality, comprehensive, and cost-effective retirement plan solutions for 401(k), 403(b), and 457 plan clients and their employees.