Vol. 1, No. 4Monday, October 19, 2026Not a real newspaper

The 401(k) Liar

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Breaking · Asset Management

Fund Company Responds to Decade of Underperformance by Renaming Itself “Five Star Fund Company”

Sales up 340 percent since rebrand; every fund in lineup now carries the words “Five Star”; rival announces plans to become “Top Quartile Capital.”

Workers on a boom lift bolt a gold five-star sign reading Five Star Fund Company onto a granite office facade, the ghost of the old name still visible on the stone; employees applaud below beside a pastry table and a banner reading A New Chapter.
Workers install the new sign Monday. The old one has been placed on a watch list.AI-generated satirical photo illustration

The asset manager formerly known as Cresthaven Investment Management announced Monday that it has completed its transformation into Five Star Fund Company, a rebrand executives credit with reversing a ten-year decline in sales that had, until recently, closely tracked the performance of its funds.

“We conducted an extensive review of what was working,” said chief executive Alan Whitcombe. “It turned out to be the name.”

Whitcombe said the firm had studied every fund in its category that was gathering assets and identified a common trait. “They all had five stars next to them,” he said. “Ours had the word ‘Cresthaven’ next to them. We addressed that.”

Under the new structure, each of the firm's 31 funds carries the brand in its name: Five Star Large Cap Value, Five Star Mid Cap Growth, Five Star 2045, and Five Star Money Market, which Whitcombe described as “the first money market fund with five stars in the name, and we're very proud of that.”

Asked whether any of the funds had received five stars from an independent rating organization, a spokesperson said the firm did not comment on third-party ratings, and then said, “We received them from us.”

“We received them from us.”

Sales have risen 340 percent since the change. Flows into Five Star Mid Cap Growth, which had been in net outflows for 38 consecutive months as Cresthaven Mid Cap Growth, turned positive within a week of the announcement. The fund's holdings, manager, and expense ratio are unchanged. Its one-year return is also unchanged, a fact the firm's marketing materials describe as “consistency.”

Retirement plan committees have taken notice. An investment committee in Scottsdale, Ariz., added three Five Star funds to its lineup at a meeting last week. The minutes record the rationale as “five stars.”

“I'm not going to put my clients in a three-star fund when there's a five-star fund sitting right there,” said financial advisor Brent Kessling, who advises the plan. “That's just math.” Asked who had assigned the three stars to the other fund, Kessling said he would “have to look,” and then said, “Nobody, I guess. It's just a fund.”

Competitors have responded. Lakeshore Asset Partners of Chicago filed paperwork Friday to become Top Quartile Capital. A third firm, which asked not to be named because the new name is not ready, said it was “exploring the outperformance space” and had narrowed its options to “Alpha,” “Alpha Plus,” and “The Alpha Plus Company.”

Whitcombe dismissed the imitators. “Top quartile is a range,” he said. “Five stars is a number. People understand a number.”

The firm's compliance department confirmed that every piece of marketing continues to carry the required disclosure that past performance does not necessarily predict future results. “We've actually enlarged it,” the spokesperson said. “It's the best news we've got.”

At press time, Five Star Fund Company had filed to launch its first new product since the rebrand, Five Star Six Star Fund, and said the name had “tested extremely well.”



Around the Industry

Advisor Named to Top 100 List Discovers Available Sponsorship Package Can Move Him to Top 50

Financial advisor Brent Kessling said he was honored to learn that his years of dedication had earned him a place on a national Top 100 list, and encouraged to discover that a modest increase in marketing spend could recognize several more years of dedication.

The list's organizer notified Kessling that its Premier Recognition package included a Top 50 designation, a larger headshot, and the opportunity to describe his investment philosophy in 150 additional words.

“I'm proud to see my commitment to excellence finally fit within the marketing budget,” Kessling said, checking whether the invoice could be split across quarters.

The organizer said selection was based on a rigorous proprietary methodology. A sales representative clarified that the methodology becomes more comprehensive at the Premier level.

Kessling initially chose the standard package, which allowed him to announce the honor but required a separate license to display evidence of it. His assistant recommended the upgrade after learning it included a trophy, social-media graphics, and a quote from Kessling about putting clients first. “We were going to write that quote anyway,” she said. “At that point the economics made sense.”

The organizer confirmed that sponsorship does not influence the judging process. It influences which judging process an advisor is entered into.

Recordkeeper Eliminates Hidden Fees by Putting All 19 on Page 84

Declaring that sponsors deserve complete visibility into what they pay, Meridian Trust Services unveiled a redesigned disclosure document Monday that places all 19 fees together on page 84.

“Nothing is hidden,” said a company spokesperson. “You can scroll directly to it once you know where it is.”

Sponsors can locate any charge by searching for the precise term Meridian uses for it. A fee previously described by clients as “the extra fee” is now searchable under “supplemental platform servicing adjustment.”

The portal displays a green checkmark once the PDF has been downloaded. Internally, that action is recorded as “sponsor informed.” Asked whether sponsors understood the fees, the spokesperson said the company had achieved a 97 percent download rate.

One sponsor reported spending 35 minutes with the new disclosure before calling his advisor, who said the arrangement was competitive. Neither could immediately identify what it was competitive with.

The disclosure assistance line is available during business hours. Charges may apply.

Advisor Wins Plan From Previous Advisor by Promising to Do What Previous Advisor Promised to Do

Citing a refreshing commitment to proactive service, Wexler Packaging selected a new retirement-plan advisor Monday after he outlined the same service model that persuaded the company to hire its previous advisor in 2021.

“Quarterly meetings. Employee education. Someone who picks up the phone,” said controller Beth Nolan. “We've never heard it put quite like that.”

The incoming advisor, Nathan Bell, described his approach as relationship-driven, hands-on, and focused on outcomes. The outgoing advisor had used those terms in a different order.

“The old firm said they'd be an extension of our team,” Nolan explained. “Nathan says he'll be part of our team. That's a meaningful distinction.” Nolan said she was particularly excited about education “as needed,” which allows meetings to occur whenever someone eventually asks for one.

The departing advisor expressed disappointment, saying the firm had been preparing to become more proactive.

Bell has already scheduled the kickoff meeting. The first quarterly review will be arranged at the kickoff meeting, if time permits.

Meeting Minutes Confirm Everyone Present Was Comfortable With Whatever Was Decided

The quarterly review of the Gessler Heating & Air 401(k) Plan concluded Thursday with unanimous agreement that the minutes should reflect a robust discussion.

Attendees could not recall any disagreement but remembered that Paul had asked a question. Paul said he had asked whether the parking garage validated.

The minutes now state that the committee “challenged underlying assumptions.” Three Five Star funds were added to the lineup. The rationale is recorded as “five stars.”

Paul's parking was validated.