Great Gray Group Acquires flexPATH's CIT Fund Sub-Advisory Business, Enhancing In-House Services and Expertise
Great Gray Group and its affiliates have recently acquired the assets of flexPATH Strategies, LLC, a move that brings significant benefits to the Great Gray Collective Investment Trust (CIT) funds. This strategic purchase strengthens Great Gray's service capabilities, operational efficiency, and team composition by integrating experienced professionals from flexPATH.
The transaction involves Great Gray acquiring the assets flexPATH used to provide sub-advisory services to the CIT funds, including the rights to the flexPATH brand. As a result, Great Gray can now offer in-house investment management services that were previously outsourced. This shift ensures continuity and quality for plan sponsors and participants, as the fund investment strategies, underlying holdings, and fees remain unchanged.
This acquisition is a testament to Great Gray's commitment to innovation and growth in the retirement planning sector. With over 10 years of successful collaboration, Great Gray has been the trustee of the flexPATH sub-advised CITs since their inception. By bringing investment advisory services in-house, Great Gray aligns its service model across fund families and strengthens its capabilities with seasoned professionals.
Rob Barnett, President and CEO of Great Gray Group, emphasized the company's dedication to serving plan sponsors and participants. He stated, 'This is a strategic investment in our business, ensuring we maintain our commitment to excellent service. We're integrating proven talent into our teams while preserving the continuity and quality that clients expect from the CITs previously sub-advised by flexPATH. Our nationwide distribution reach further enhances our ability to deliver comprehensive guidance and coverage.'
FlexPATH, after over a decade of successful innovation and growth, is transitioning out of the CIT fund sub-advisory business. They will retain a portion of their team and continue operating their 3(38) retirement plan advisory business independently. Vince Giovinazzo and Nick Della Vedova, CEOs of flexPATH, expressed pride in their contributions as a sub-advisor to the Great Gray CIT funds, stating that this transition will allow the flexPATH sub-advised CITs to flourish under Great Gray's fiduciary stewardship.
The Great Gray CITs, as of September 30, 2025, manage $269.8 billion in assets and serve thousands of retirement plans nationwide. This acquisition underscores Great Gray's commitment to sound fiduciary management and excellent service, positioning them to deliver enhanced coverage and hands-on guidance on a national scale.
