Mesirow Fiduciary Solutions Expands Retirement Market Footprint Through Acquisition of flexPATH Strategies' Plan-Level 3(38) Business

• Mesirow to acquire the plan-level 3(38) business of flexPATH Strategies, LLC.
• Transaction further strengthens Mesirow Fiduciary Solutions' established footprint in the retirement market and deepens its custom portfolio and investment lineup service capabilities.
• Second strategic acquisition for Mesirow Fiduciary Solutions in 2026.

CHICAGO, Aug. 13, 2026 /PRNewswire/ -- Mesirow, an independent, employee-owned financial services firm, today announced that it has entered into an agreement to acquire the plan-level 3(38) business of flexPATH Strategies, LLC ("flexPATH"), a provider of outsourced fiduciary and custom portfolio construction solutions serving the retirement plan marketplace.

This acquisition further expands Mesirow Fiduciary Solutions' capabilities and strengthens its position as a leading provider of outsourced fiduciary services. The platform, which continues to grow organically and through other recent strategic acquisitions, offers outsourced fiduciary services through 3(38) custom portfolio construction, and 3(21) and 3(38) investment lineup services.

"By combining flexPATH's established custom portfolio business with Mesirow's institutional scale, technology infrastructure and fiduciary expertise, we are further enhancing our ability to deliver differentiated retirement solutions," said Michael Annin, CFA, President, Mesirow Fiduciary Solutions. "This transaction expands our reach within the discretionary custom portfolio market and reinforces our longstanding commitment to helping advisors and plan sponsors achieve better participant outcomes."

A recognized leader in outsourced fiduciary services, Mesirow Fiduciary Solutions provides ERISA fiduciary services, investment due diligence, reporting and custom default solutions to the retirement plan, HSA and IRA marketplaces. The team's technology infrastructure integrates proprietary investment due diligence, plan-level reporting and fiduciary compliance capabilities through scalable data connections with many of the nation's largest recordkeepers. Mesirow's custom default programs and bespoke solutions utilize a proprietary asset allocation framework which constructs optimal portfolios through a combination of conventional assets, advanced retirement income products and liquid private assets. Today, Mesirow Fiduciary Solutions supports nearly 10,000 financial advisors and oversees approximately $164 billion in assets under management and advisement¹. Building on this foundation, Mesirow continues to pursue strategic growth opportunities that further enhance the Mesirow Fiduciary Solutions platform.

"The acquisition of flexPATH's plan-level 3(38) fiduciary business marks our second acquisition in the outsourced fiduciary space this year, demonstrating our bullish view of the outsourced fiduciary space and our ability to deliver innovative fiduciary solutions as a leader in the space," said Ketan Shah, Chief Strategy Officer and General Counsel at Mesirow. 

The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

DLA represented Mesirow and Ropes & Gray represented FlexPATH.

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 Private Capital & Currency, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture.

Mesirow has been named one of the Best Places to Work in Chicago by Crain's Chicago Business multiple times and is one of Barron's Top 100 RIA firms. To learn more, visit mesirow.com, follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.

About Mesirow Fiduciary Solutions
Mesirow Fiduciary Solutions creates institutional investment solutions for the retirement and health savings marketplace, supporting plan sponsors, financial advisors, recordkeepers and administrators, trust companies and insurers.

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Michael Herley | 203.308.1409

¹ As of 06.30.2026; Combined client assets totaled $164B ($141B Mesirow Fiduciary Solutions; $23B Precision Fiduciary Partners). | 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., © 2026, 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 advisor, 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.

Award recognition disclosures: mesirow.com/award-recognition-disclosures

SOURCE Mesirow Financial Holdings, Inc.