ABA Retirement Funds, a company that offers retirement plan services to legal professionals, through its sponsorship of the ABA Retirement Funds Program, has entered into a fiduciary investment services agreement with Northern Trust, a provider of investment management, asset and fund administration, fiduciary and banking solutions.
Under the agreement, currently expected to take effect in mid-2009, Northern Trust will work with the program’s recordkeeper to provide fiduciary investment services to more than 43,000 program participants, with more than $4.1 billion in assets.
Alan Robertson, head of Northern Trust Global Advisors, the multi-manager investment solutions business of Northern Trust, said: Our global investment manager research and portfolio construction capabilities, along with Northern Trust’s proven strength in trust, custody and asset servicing, will be a strong combination for the ABA Retirement Funds Program and its participants across the country.
Harry Hathaway, president of the board of directors with ABA Retirement Funds, added: Our goal is to make our members’ retirement planning more effective. We are delighted to have this opportunity to partner with Northern Trust, which we expect will lead to offering our members and participants a revamped menu of high-quality investment options for their benefit plans.