Frankenmuth Financial Group, Frankenmuth, Mich., hired Diversified...

Frankenmuth Financial Group, Frankenmuth, Mich., hired Diversified Investment Advisors to manage its $27 million pension plan, said Kari Shaheen, benefits coordinator. The plan terminated previous manager PaineWebber because it wanted a firm that also provides actuarial and advisory services. The fund’s asset allocation is 54% active domestic equity, 6% active international equity and 40% active domestic fixed income. Portfolio Analytics advised.