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.
Gerald "Gerry" Seizert is the chief executive officer of Seizert Capital. From April 1995 to December 1999 he served as a Managing Partner, Chief Investment Officer – Equities for Munder Capital Management. His firm manages some $3 billion in institutional assets.