Castle Rock Innovations, LLC Partners with Millennium Investment And Retirement Advisors LLC

The two leading firms form partnership to provide turnkey 408(b)(2) Fiduciary Analytics & Consulting Services

Chicago, IL (July 5, 2011) – Castle Rock Innovations, LLC (CRI), a leading provider of technology-based solutions for the retirement industry, announced its partnership with Millennium Investment and Retirement Advisors LLC (MIRA) in the support of its flagship AXIS Retirement Plan Analytic Platform (AXIS), a comprehensive servicing platform that addresses the U.S. Department of Labor (DOL) mandated section 408(b)(2) fee disclosure requirements. MIRA has provided independent fiduciary services over the last decade and used that experience to create Fiduciary Analytics Consulting Services (FACS, LLC) which will provide dedicated 408(b)(2) and independent fiduciary support and oversight integrated with AXIS’ data processing and reporting services for the broker dealer (BD) and registered investment adviser (RIA) firms in support of the new ERISA section 408 (b)(2) regulations. This service will provide plan setup, and review of every plan and fund line up including benchmarking services to insure that each plan service provider arrangement is fully ERISA compliant. This service will also provide support of representatives and advisors that are servicing each plan.

"We partnered with MIRA/FACS for their ability to act as an independent fiduciary for our Broker Dealer (BD) and RIA clients. Furthermore, they offer the ability to provide a turnkey process to identify all ERISA plan challenges and the reporting services necessary to be compliant by end of year requirements. Our overarching goal is to make it easy for our clients to be compliant while there is still a great deal of confusion as to what is required and how those requirements can be satisfied.” said Tom Loch, Senior Vice President of Castle Rock Innovations, LLC.

Rick Canipe and James Holland, principals of FACS stated “CRI developed the technology and processes that allow us to provide valued services to the BD and RIA community. We recognize that Investment Advisor relationships and compensation will be scrutinized under 408(b)(2) and 404(a)(5). This tool will arm them with the cost and service benchmarks needed to demonstrate their value to retain and take market share. Beyond that, AXIS can also quickly identify those plans that are vulnerable. Our knowledge and experience with the industry will bring ‘service’ clarity for all plan providers, CEOs and participants precisely at the time that costs are becoming clear.“

ERISA §404(a) and the prohibited transaction provisions in §408(b)(2) require fiduciaries to evaluate whether service/cost arrangements with 401k providers are reasonable. FACS provides assurance of these facts for every 401k plan. A definitive and documented process for advisors is to understand services, coupled with AXIS clarity of costs, ensures accountability. This accountability strengthens the bonds of trust and with it the relationships themselves.


About Castle Rock Innovations, LLC
Castle Rock Innovations is a state of the art enterprise technology services organization that utilizes technical expertise and business knowledge to create value for our clients with focus on Financial Services, Capital Markets and Insurance Industry. CRI is a privately owned and operated corporation with headquarter in Chicago Illinois and offices in CT, NY, NJ, MA, FL and TX. CRI has been recognized in Inc500 as one of the fasted growing private companies. Castle Rock Innovations continues to grow by being good citizen to our clients, our employees and our communities. Castle Rock’s organic growth is due to our customer satisfaction which results in repeat business and excellent references. www.axisretirement.com

About MIRA & FACS
For the last decade, MIRA has operated as a wholly unique fiduciary consulting firm. Informed by not only the letter, but also the spirit of ERISA, Department of Labor regulations and IRS rules, our mission is to offer Plan Sponsors the maximum level of fiduciary protection and guidance available. In addition to Plan Sponsors, MIRA formed FACS to inform Plan Auditors, brokers and other service providers where compliance issues and prohibited transactions can be identified and addressed. MIRA/FACS is made up of IRS Enrolled Agents, CPAs, CFPs, QKA and AIFA. Our backgrounds include former bank and stock brokers / benefits experts, recordkeeper wholesalers, and a Lipper mutual fund analyst.