GREENSBORO, N.C., March 20, 2012 /PRNewswire/ -- BB&T's employee benefits consulting and registered investment advisory firm, Stanley, Hunt, DuPree & Rhine Investment Advisers Inc. (SHDR-IA), announced today that it is offering retirement plan sponsors ERISA 3(38) fiduciary services. The enhanced fiduciary advisor status provides greater investment fiduciary protection for plan sponsors.
The new service enabled under the Employee Retirement Income Security Act, ERISA Section 3(38), allows plan sponsors to delegate the burden of managing retirement investments and hiring, as well as monitoring and replacing investment managers. The firm offers independent and unbiased advice.
"This new offering appeals to retirement plan sponsors and their committee members who want to make prudent choices for their retirement plans and those who seek a professional to manage and monitor the investments offered to their plans' participants," said Jay Mullins, president, SHDR-IA. "It gives them confidence and peace of mind."
About Stanley, Hunt, DuPree & Rhine
Stanley, Hunt, DuPree & Rhine is an employee benefits consulting firm and a division of BB&T. SHDR provides a wide range of consulting and administrative services, including actuarial, investment advisory, ESOP administration, nonqualified, HRAs, FSAs (healthcare/dependent care), Health Savings Accounts (HSA), COBRA administration services, and premium billing arrangements.
BB&T is one of the largest financial services holding companies in the U.S. with $174.6 billion in assets and market capitalization of $17.5 billion as of Dec. 31, 2011. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.
SOURCE BB&T Corporation