Firm Description
Ancora Retirement Plan Advisors LLC (RPA) is a registered investment advisor with the SEC.
RPA service(s) are primarily providing retirement plan investment guidance or investment management
for small and midsize employer sponsored retirement plans.
Principal Owners
FOCUS FINANCIAL PARTNERS, LLC
Ancora Retirement Plan Advisors, LLC is part of the Focus Financial Partners, LLC (“Focus LLC”)
partnership. Specifically, Ancora Retirement Plan Advisors, LLC is a wholly-owned subsidiary of Focus
Operating, LLC (“Focus Operating”), which is, directly and indirectly, a wholly-owned subsidiary of Focus
LLC. Focus Financial Partners Inc. (“Focus Inc.”) is the sole managing member of Focus LLC and has
100% of its governance rights. Accordingly, all governance is conducted through the voting rights and the
Board of Directors at Focus Inc. Focus Inc. is the managing member of and owns, directly and indirectly,
approximately 99% of the economic interests in Focus LLC. Focus Inc. is majority-owned, indirectly, and
collectively, by funds affiliated with Clayton, Dubilier & Rice, LLC (“CD&R”). Funds affiliated with Stone
Point Capital LLC (“Stone Point”) are indirect owners of Focus Inc. Because Ancora Retirement Plan
Advisors, LLC is an indirect, wholly-owned subsidiary of Focus Inc., CD&R and Stone Point funds are
indirect owners of Ancora Retirement Plan Advisors, LLC. Focus LLC also owns other registered investment
advisers, broker-dealers, pension consultants, insurance firms, business managers and other firms (the
“Focus Partners”), most of which provide wealth management, benefit consulting and investment consulting
services to individuals, families, employers, and institutions. Some Focus Partners also manage or advise
limited partnerships, private funds, or investment companies as disclosed on their respective Form ADVs.
RPA is managed by (“RPA Principals”), pursuant to a management agreement between Terza Partners,
LLC and RPA. The RPA Principals serve as officers and leaders of RPA and, in that capacity, are
responsible for the management, supervision and oversight of RPA.
Types of Advisory Services
RPA works with Retirement Plans to provide investment guidance or investment management for employer
sponsored retirement plans.
In its capacity as an investment adviser, RPA acts as a Co-Fiduciary of the Plan under Section 3(21) of the
Employee Retirement Income Security Act (“ERISA”) by providing non-discretionary investment advice for
the purposes of selecting, monitoring, and changing the investment alternatives of the Plan. Clients retain
control and discretion pertaining to final investment decisions. Additional Plan related services may be
provided by RPA as agreed upon by the Client.
In its capacity as an investment manager, RPA acts as a Fiduciary of
the Plan under Section 3(38) of ERISA
by providing discretionary investment decisions for the purpose of selecting, monitoring, and changing the
investment alternatives of the Plan. RPA assumes control and discretion over investment decisions.
Additional Plan related services may be provided by RPA as agreed upon by the Client.
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The Ancora MEP was established by Ancora. Ancora’s retirement plan elects to include Ancora’s
proprietary mutual funds in the investment options for its employees (participants). Plans that adopt the
Ancora MEP will not have Ancora’s proprietary mutual funds or private fund offerings available in their
investment options for participants.
RPA is a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)
with respect to investment management services and investment advice provided to ERISA plan clients,
including ERISA plan participants. RPA is also a fiduciary under the Internal Revenue Code (the “IRC”) with
respect to investment management services and investment advice provided to ERISA plans, ERISA plan
participants, IRAs and IRA owners (collectively, “Retirement Account Clients”). As such, RPA is subject to
specific duties and obligations under ERISA and the IRC that include, among other things, prohibited
transaction rules which are intended to prohibit fiduciaries from acting on conflicts of interest. When a
fiduciary gives advice in which it has a conflict of interest, the fiduciary must either avoid or eliminate the
conflict or rely upon a prohibited transaction exemption (a “PTE”).
As a fiduciary, we have duties of care and of loyalty to you and are subject to obligations imposed on us by
the federal and state securities laws. As a result, you have certain rights that you cannot waive or limit by
contract. Nothing in our agreement with you should be interpreted as a limitation of our obligations under
the federal and state securities laws or as a waiver of any unwaivable rights you possess.
Other Services
We offer clients the option of obtaining certain financial solutions from unaffiliated third-party financial
institutions through UPTIQ Treasury & Credit Solutions, LLC (together with UPTIQ, Inc. and its affiliates,
“UPTIQ”). Please see Items 5 and 10 for a fuller discussion of these services and other important
information.
We help our clients obtain certain insurance solutions from unaffiliated, third-party insurance brokers by
introducing clients to our affiliate, Focus Risk Solutions, LLC (“FRS”), a wholly owned subsidiary of our
parent company, Focus Financial Partners, LLC. Please see Items 5 and 10 for a fuller discussion of these
services and other important information.
Regulatory Assets Under Management
As of December 31, 2023, RPA manages $1,056,233,620 on a non-discretionary basis.