Fiduciary-Friendly Investment Due Diligence Earns CEFEX Certification for Securian Retirement

ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Retirement’s process for selecting investment options to offer its qualified retirement plan clients received CEFEX certification from the Centre for Fiduciary Excellence for the fourth consecutive year.

Securian Retirement’s qualified plan products are offered through a group variable annuity contract issued by Minnesota Life Insurance Company.

CEFEX is an independent organization that assesses the risk and trustworthiness of investment fiduciaries. The CEFEX certification recognizes that Securian Retirement, as a service provider, adheres to the industry’s best practices and is positioned to earn its clients’ trust. Securian Retirement’s qualified plan due diligence process is led by an in-house committee of four Chartered Financial Analysts who also hold the Accredited Investment Fiduciary designation.

“Plan sponsors require assurance that our qualified plan array will assist them in meeting their fiduciary duties under ERISA that pertain to plan investment selection,” said Rick Ayers, vice president, Securian Retirement. “The CEFEX certification is a positive reflection also on the advisors who market our products: It conveys a commitment to excellence.”

Securian Retirement’s investment due diligence process is rigorous and well-documented. It also includes ongoing investment monitoring to ensure consistent strategy. Securian’s investment array includes no proprietary option requirements, ensuring objectivity of investment selection and complete fee transparency.

Securian’s long-standing practice of returning to participants all revenue sharing from mutual fund companies led retirement plan industry expert Fred Reish to note in a recent white paper that Securian Retirement’s fee disclosure and revenue sharing process (called SA²M for Securian Actual Allocation Method) “allows plan sponsors to meet – and possibly exceed – the requirements of ERISA to use a prudent allocation method.”

“We made the decision nearly 20 years ago to provide full disclosure of the fees we charge and return revenues we receive from mutual fund companies to the qualified plan participants who invest in them,” said Ayers. “We believe -- then and now – that it’s the right thing to do.”

Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, it is the holding company parent of a group of companies that include Minnesota Life Insurance Company.

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