Geller, Erlich exiting Geller Group

The managing partners of Geller Group, LLC, an RIA specializing in corporate retirement plan administration that's controlled by Focus Financial Partners, are stepping down next week. Sheldon Geller and Manny Erlich announced the move internally amid an investigation of the company's practices by the U.S. Department of Labor. The DOL last year imposed a lifetime ban on an accountant who audited Geller's activities for pension plans without informing plan sponsors that he had close ties to the company. Alan Pfeffer, a sales executive and chief compliance officer at the New York City firm, has assumed the pair's duties. Rajini Kodialam, a senior vice president of Focus Financial, said in a prepared statement that Mr. Geller and Mr. Erlich are retiring. "The changing of the guard at The Geller Group is a great testament to the fact that partnerships with Focus ensures partner firms will continue to thrive beyond their founders' retirement," she wrote in an e-mail. Messrs. Geller, Erlich and Pfeffer did not return calls for comment.