NEW YORK, Aug. 31, 2011 (GLOBE NEWSWIRE) -- The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America (Guardian), today announced the availability of SWBC Investment Advisory Services LLC (SWBC) fiduciary support services for plan sponsors.
Beginning on September 1, the fiduciary support and investment advisory services of SWBC, an independent registered investment adviser, will be available to plan sponsors who utilize The Guardian Advantage® or The Guardian Choice® as the funding vehicle for their participant directed qualified retirement plan. SWBC will act as a fiduciary under ERISA Section 3(21) to plan sponsors who select the service, and enter into an advisory services agreement with SWBC.
The services of SWBC can help mitigate a plan sponsors' risk for selecting, monitoring and diversifying the investment options that are available under the plan. Plan sponsors who use The Guardian Advantage® or The Guardian Choice® will have the flexibility to choose an investment line-up that works for their plan. They can choose from one of two focus lists of investment options or customize the menu of investment options for their plan.
"Guardian Retirement Solutions™ is dedicated to working with financial professionals and third-party administrators to provide solutions to plan sponsors that help their employees meet their retirement goals. In order to effectively do that, plan sponsors need access to services that can help them manage their fiduciary responsibilities," said Jason Frain, Vice President, 401(k) Product Management and Development, Guardian Retirement Solutions™. "We take a customer-focused approach to working with financial professionals and their plan sponsor clients. That's why it's so important that services like those offered through SWBC are available to help plan sponsors mitigate their fiduciary risk amidst a complex and changing regulatory landscape."
With SWBC, plan sponsors receive:
- A written commitment of SWBC's fiduciary investment advisory services
- Help with developing an Investment Policy Statement for their plan
- Investment option selection in accordance with ERISA's "prudent expert" rule and diversification requirements
- Comprehensive quarterly investment monitoring reports and quarterly conference calls
- Institutional investment expertise and experience
- These services are at no additional cost to plan sponsors, the plan or plan participants
"At SWBC, our focus is developing risk management and business solutions for financial institutions across the United States," said Richard Allison, CEO, SWBC Investment Advisory Services LLC. "Meeting these opportunities and exceeding the expectations of our clients on a daily basis is the passion of our approximately 1,500 employees. The fiduciary support service that we can provide to plan sponsors who utilize The Guardian Choice® or The Guardian Advantage® is unique in that it mitigates the fiduciary risk associated with investment decisions for plan sponsors while still allowing a great deal of investment flexibility. This service will allow plan sponsors to customize their investment selections or to utilize pre-determined investment lists based on broad objectives. When they make their investment selections, plan sponsors will have the confidence of knowing they have a solution that provides them with effective fiduciary risk management. SWBC is excited to be part of one of the most competitive solutions offered in the retirement plan market today and to do so in connection with an organization that has built an outstanding reputation in the financial services industry over the past 150 years."
About Guardian
A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life insurance, disability income insurance, dental insurance products, and offer annuities, funding vehicles for qualified retirement plans, and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 120,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.
For more information about Guardian, please visit: www.GuardianLife.com
The Guardian Choice®group variable funding agreement and The Guardian Advantage®group variable annuity contract are issued by The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation whose principal place of business is 7 Hanover Square, New York, NY 10004. GIAC is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY. Guardian does not issue the The Guardian Choice®and The Guardian Advantage®and does not guarantee the benefits they provide. GIAC is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY.
About SWBC
Headquartered in San Antonio, SWBC is a diversified financial services company providing a wide range of insurance, mortgage, and investment services to financial institutions, businesses, and individuals. With offices across the country, SWBC is committed to providing quality products, outstanding service, and customized solutions in all 50 states. For more information, please visit SWBC's website at www.swbc.com.
The team that founded SWBC Investment Advisory Services LLC has been providing unbiased advisory and fiduciary services for retirement plan sponsors for more than a decade. They are solely dedicated to this marketplace and have been doing what is right for their clients by providing fiduciary support, independent advice, and fee-based services well before it was the industry trend.
Guardian Retirement Solutions™refers to the administrative support services, including participant recordkeeping as well as marketing, enrollment and educational materials, provided by GIAC in conjunction with the individual and group retirement products issued by GIAC.
SWBC and Stadion are independent registered investment advisers and are not affiliates or subsidiaries of The Guardian Life Insurance Company of America or The Guardian Insurance & Annuity Company, Inc.
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