Taconic Farms Inc., Germantown, N.Y., hired Diversified Investment Advisors to manage its combined $29 million 401(k) and profit-sharing plans, said Thomas Redmond, manager of finance for Taconic.
The 401(k) plan had been managed by Guardian Investment Management, while the profit-sharing plan was run by Taconic Farms trustees, Mr. Redmond said. Company officials wanted one manager for both plans.
An RFP was issued in February 2008. Guardian did not rebid.