- Mesirow now providing RIA services for WEX, an industry leader
in employee benefits and the nation's fifth-largest HSA
custodian
- Continued growth for Mesirow Fiduciary Solutions reflects
accelerating HSA marketplace
- Employees leveraging multiple benefits of HSA pre-tax
contributions
CHICAGO, Dec. 5, 2023
/PRNewswire/ -- Mesirow Fiduciary Solutions, a division of Mesirow,
an independent, employee-owned financial services firm, today
announced that it is now providing registered investment advisor
(RIA) services for WEX (NYSE: WEX), the global commerce platform
that simplifies the business of running a business and the nation's
fifth-largest HSA custodian.
WEX technology powers approximately 7.5 million HSAs, with
employees across the country relying on WEX to manage the
administration of their health benefits. This includes
approximately 19.5 million benefits administration accounts and
deployment of WEX health benefits products at an estimated 60% of
Fortune 1000 companies nationwide.
"We're very pleased to be able to leverage our expertise in
building investment programs for ERISA retirement plans into the
HSA retail marketplace and are especially excited about the growth
trajectory in HSA programs," said Mike
Annin, President of Mesirow Fiduciary Solutions. "We
look forward to a long-term relationship."
HSAs are becoming more accessible as more employers offer
qualified HSA plans to their employees and employees are expanding
their understanding of HSAs to not only cover medical expenses with
pre-tax dollars in the near term but also to leverage as a
long-term solution to support their future financial goals. HSAs
have grown in popularity over the last decade.
"Mesirow will leverage its expertise to build an investment
portfolio to help meet the unique needs of our HSA account holders
and provide tax-free savings for medical expenses both now and into
retirement," said Adam Cohen,
Director of HSA Strategy and Investments, WEX. "Although
HSA investing is growing in popularity, there are still so many who
could benefit from participating in HSA investing and have not
taken full advantage of it. Mesirow and financial advisors across
the country will be instrumental in educating Americans about the
value of HSA investing."
Strong utilization amongst younger investors supports a strong
future of asset and account growth expectations. Accounts are
portable as investors hold onto their allocations when they change
jobs. Moreover, with no expiration on investors taking
disbursements to pay for past medical expenses, account growth can
benefit from longer time horizons.
About Mesirow
Mesirow is an independent,
employee-owned financial services firm founded in 1937.
Headquartered in Chicago, with
offices around the world, we serve clients through a personal,
custom approach to reaching financial goals and acting as a force
for social good. With capabilities spanning Global Investment
Management, Capital Markets & Investment Banking, and Advisory
Services, we invest in what matters: our clients, our communities
and our culture. To learn more, visit mesirow.com and follow us on
LinkedIn.
Mesirow Fiduciary Solutions is a division of Mesirow Financial
Investment Management, Inc. an SEC-registered investment advisor.
Mesirow Fiduciary Solutions has been providing RIA services to the
ERISA market since 2006. Our fiduciary partnership, asset
allocation and portfolio implementation services are widely
utilized amongst financial institutions and our programs are
offered through multiple nationally recognized 401(K)
providers.
About WEX
WEX (NYSE: WEX) is the global commerce
platform that simplifies the business of running a business. WEX
has created a powerful ecosystem that offers seamlessly embedded,
personalized solutions for its customers around the world. Through
its rich data and specialized expertise in simplifying benefits,
reimagining mobility and paying and getting paid, WEX aims to make
it easy for companies to overcome complexity and reach their full
potential. For more information, please visit www.wexinc.com.
Media
mediainquiries@mesirow.com
Michael Herley | 203.308.1409
Mesirow refers to Mesirow Financial Holdings, Inc. and its
divisions, subsidiaries and affiliates. The Mesirow name and logo
are registered service marks of Mesirow Financial Holdings, Inc., ©
2023, Mesirow Financial Holdings, Inc. All rights reserved.
Investment management services provided through Mesirow Financial
Investment Management, Inc., Mesirow Institutional Investment
Management, Inc. and Mesirow Financial Private Equity Advisors,
Inc., all SEC-registered investment advisors, a CFTC registered
commodity trading advisors and member of the NFA, or Mesirow
Financial International UK, Ltd. ("MFIUK"), authorized and
regulated by the FCA, depending on the jurisdiction.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/reflecting-accelerating-growth-in-health-savings-accounts-hsas-mesirow-tapped-by-wex-to-serve-as-ria-302006492.html
SOURCE Mesirow Financial Holdings, Inc.