Southfield, MI-based Advance Capital Management’s Board of Directors today passed a resolution terminating the sub investment advisor relationship with Birmingham, MI-based Seizert Capital Partners.

Advance Capital’s four funds, including the Retirement Income Fund, Balanced Fund, Equity Growth Fund and Core Equity Fund, paid a total of some $3.3 million in investment advisory fees to Seizert last year, according to a Securities and Exchange Commission filing.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.