Southern Wine & Spirits of America Inc., Miami, hired Welch Hornsby & Welch as consultant for its $120 million 401(k)/profit-sharing plan, replacing Morgan Stanley, said Mark N. Krauss, national director of human resources. Plan officials replaced previous consultant Morgan Stanley because they wanted more expertise and better service, he said. Putnam is bundled provider.
Welch Hornsby is reviewing the plan's seven investment options and should be finished by the end of January, said Mr. Krauss.
Bret Gallaway, Morgan Stanley vice president-corporate communications, did not return calls seeking comment by press time.