Trust Fund Advisors has withdrawn its lawsuit against Sierra Capital Management, the firm started by three former TFA staffers. TFA sued Sierra's principals to stop them from soliciting TFA clients, but TFA President Michael Steed said the two sides reached a settlement. Neither he nor Sierra President Bruce Dereschuk would reveal terms of the settlement. TFA already has replaced the executives and is searching for an additional West Coast-based marketer who will be located in northern California.
TFA is seeking a person familiar with the Taft-Hartley market who can interact with consultants, trustees and administrators of the funds; an MBA or CFA designation or equivalent experience is preferred. Mr. Steed said he expects to hire someone within the next 30 to 60 days.