Ascensus continues deal flurry, making 5th and 6th acquisition of the year

Ascensus, a retirement savings technology developer, continues its year of acquisitions completing deals for Swerdlin & Co and SES Advisors.

These deals mark the fifth and six acquisitions made by the company this year. Following the deal, both of these companies will join Ascensus’ TPA (third-party administration) Solutions division, bringing employee stock ownership plan capabilities.

Alongside this, Swedlin will add a significant defined contribution and defined benefit expertise.

Swerdlin & Company provides actuarial, consulting, administrative and recordkeeping services for retirement, health and cafeteria plans. It services benefit plans such as 401(k), cash balance, ESOP and health reimbursement accounts from the whole of the US.

SES Advisors specialises in stock ownership plan administration, consulting and recordkeeping. Its platform helps companies administer ESOP plans by balancing needs of owners and employees.

Ascensus builds technology solutions to support consumers in America to save money for their retirement, college and healthcare. Tailored services are available for asset managers, banks, credit unions, state governments, financial professionals, employers and individuals.

Consumers have a range of savings plans available to them, with each meeting necessary regulations.

Ascensus executive vice president Raghav Nandagopal said, “Both Swerdlin & Company and SES Advisors offered an exciting opportunity to advance our immediate and long-term growth plans via product and geographic expansion.

“Swerdlin & Company is a strong, market-leading TPA in the Atlanta region that offers diversified retirement services, while SES Advisors is an ESOP specialist that will immediately make TPA Solutions a leader in this area of the market.”

Earlier in the year, Ascensus acquired Benefit Planning Consultants, a third-party administrator for retirement and consumer directed healthcare solutions. The other acquisitions of the year include third-party administrator Avintus, employee benefit system Chard Snyder and retirement planning platform Qualified Plans.

Over the course of the year, Ascensus has being building out its TPA Solutions division, with these acquisitions all being implemented to the unit to support its growth and capabilities.

Copyright © 2018 FinTech Global

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