Cerity Partners Retirement Plan Consultants

The firm's investment committee is led by Douglas Hammond (CFO) and Patricia Kidd (COO), with oversight from Co-Founder Kurt Cerulli. Retirement plan consulting decisions are driven by Chief Retirement Plan Consultant Michael K. Murray and a team of regional practice directors. The firm does not publish a single CIO but operates through a committee structure that includes senior portfolio managers and plan consultants (per Cerity Partners website, 2024).

Cerity Partners Retirement Plan Consultants is a dedicated practice division within the larger Cerity Partners RIA. The division operates with its own leadership, including a chief retirement plan consultant, and focuses exclusively on employer-sponsored retirement plan advisory services. The broader firm offers wealth management, institutional portfolio management, and private client services, but the retirement consulting arm is professionally staffed and separate from wealth management advisors (per Cerity Partners website, 2023).

The firm operates primarily as an advisory consultant, providing fiduciary oversight, investment due diligence, and plan design guidance. It does not commit client capital into funds or direct deals itself; instead, it recommends allocations to third-party vehicles, ETFs, and separate accounts. The firm is a fiduciary under ERISA and the Advisers Act, meaning all recommendations must be in the client's best interest (per Cerity Partners Form ADV, 2023).

The firm focuses on conservative, diversified portfolios appropriate for retirement plans, including US and international equities, fixed income (government, corporate, municipal), and alternatives such as real estate and infrastructure. Allocations are typically through low-cost passive vehicles (index funds, ETFs) and active managers. The retirement plan division does not target venture capital or direct private equity stages, but the broader wealth management arm may allocate to private markets for high-net-worth clients (per Cerity Partners website, 2024).

The firm does not engage in proprietary deal sourcing for retirement plans. Its investment process relies on open architecture, selecting from the entire universe of public securities and registered investment products. The firm's research team conducts ongoing due diligence on managers and funds, but it does not originate or underwrite private investments on behalf of retirement clients. This approach differentiates it from firms that offer proprietary funds or club deals (per Cerity Partners Form ADV, 2023).

As an independent advisory firm, Cerity Partners does not have a single wealth origin. The firm serves a mix of institutional clients (corporate retirement plans, endowments, foundations) and high-net-worth individuals, many of whom accumulated wealth through business ownership, executive compensation, or inheritance. The retirement plan consulting division derives its client base from plan sponsors across diverse industries, including healthcare, technology, manufacturing, and professional services (per Cerity Partners website, 2023).

The firm invests in proprietary technology platforms for plan analytics, participant engagement, and regulatory compliance. It uses data-driven tools to benchmark plan fees, monitor investment performance, and deliver participant education. In 2023, Cerity Partners launched a digital participant experience platform designed to improve retirement savings outcomes through behavioral nudges and personalized recommendations (per Cerity Partners press release, 2023).