Four Chicago-based consultants formed a new defined contribution plan consulting firm, Strategic Financial Concepts.
The new firm will manage the accounts of all participants in a DC plan and will accept fiduciary liability for investment management decisions.
The company will manage the investments of every participant except those who specifically opt out of the program.
The firm is creating a family of manager-of-manager mutual funds to use as investment options; plan sponsors also can choose to use their existing options.
The four consultants who formed Strategic Financial Concepts are: Carl Londe, CEO, formerly a benefits attorney and senior consultant at Watson Wyatt; Russ LeBarge, formerly a senior consultant at Ennis Knupp; Dan Gross, previously a principal and senior investment consultant at J.H. Ellwood; and Tony Sabos, who was a senior consultant at EFR Advisors Inc. All four are principals in the new venture.
