MINNEAPOLIS — Redhawk Wealth Advisors, Inc., a leading full-service turnkey RIA, has entered into a strategic alliance with Centier Bank, a regional bank and trust company. Under the strategic alliance, Redhawk will serve as the ERISA 3(38) provider for the Centier Open MEP.

Centier’s Open MEP removes the employer as the plan sponsor and trustee for their company’s retirement plan. It reduces the employer’s fiduciary liability by transferring personal liability to an independent fiduciary. Adopting employers can focus their resources on running their business and maintaining their company’s profitability, while at the same time reducing their corporate and personal fiduciary liability. Under the Open MEP, Centier operates as the ERISA 3(16) fiduciary and oversees the governance, risk, and compliance management on behalf of the employer. The MEP offers a lower cost and higher value solution versus traditional 401(k) products.

Redhawk serves as the ERISA 3(38) investment manager and takes over the fiduciary responsibilities of the investments for the plan and participants. Redhawk is responsible for the selection, monitoring and replacement of the investments in the plan. The investments include low cost ETFs and Collective Investment Funds (CIFs) that are fully transparent, as well as model portfolios. Participants have access to professionally-managed portfolios to help them establish and attain their retirement goals.