Deals Enhance Firm’s Diversified Retirement Offerings and Boost Its ESOP Capabilities
Dresher, PA—Ascensus, a technology-enabled solutions provider that helps more than 8 million Americans save for the future, is pleased to announce the acquisition of Swerdlin & Company and SES Advisors. Both firms will become part of Ascensus’ TPA Solutions division, bringing considerable employee stock ownership plan (ESOP) capabilities. Swerdlin & Company will also add significant defined contribution and defined benefit expertise.
Swerdlin & Company provides actuarial, consulting, administrative, and recordkeeping services for all types of retirement, health, and cafeteria plans to clients nationwide. Headquartered in Atlanta, Georgia, the firm services benefit plans—including 401(k), cash balance, ESOP and health reimbursement accounts—from all industries for clients in 50 states. Swerdlin & Company works with plans of any size, from sole proprietorships to companies with thousands of employees.
“For almost 40 years, we at Swerdlin & Company have held ourselves accountable for the services we provide and the work we produce,” says Lee Swerdlin, president and chief operating officer for Swerdlin & Company. “We’ll continue this tradition as part of Ascensus, continuously improving client experiences and building long-lasting relationships based on honesty, trust, and mutual respect.”
SES Advisors specializes in employee stock ownership plan (ESOP) administration, consulting, and recordkeeping services. The firm, which is based Valparaiso, Indiana, helps companies administer ESOP plans by balancing the needs of owners and employees to create successful, sustainable employee ownership outcomes. SES Advisors takes a uniquely strategic and responsible approach that maximizes value for owners, their companies, and their employees. SES Advisors’ ESOP transaction and financial advisory practice was not part of the transaction; that business will continue under its current ownership and will be rebranded as SES ESOP Strategies, Inc.
“The team at SES Advisors has worked hard to make our company a leading provider of services throughout the ESOP life cycle,” says Doug Cannon, SES Advisor’s president. “We’re looking forward to continuing to grow our expertise as part of Ascensus so that we can guide clients through the intricacies of running an ESOP.”
“The ESOP capabilities and expertise of Swerdlin & Company and SES Advisors helps Ascensus deliver an even broader set of product solutions to its new and existing clients,” says David Musto, Ascensus’ president. “In addition, the business, personal, and ethical standards to which these companies adhere when working with their clients align perfectly with our own Core Values—we couldn’t be happier to welcome Swerdlin & Company and SES Advisors to the Ascensus family.”
“Both Swerdlin & Company and SES Advisors offered an exciting opportunity to advance our immediate and long-term growth plans via product and geographic expansion,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “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.”
“We look forward to helping both of these companies continue to grow as part of Ascensus TPA Solutions,” concludes Nandagopal.
Ascensus helps more than 8 million Americans save for the future—retirement, education, and healthcare—through technology-enabled solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of asset managers, banks, credit unions, state governments, financial professionals, employers, and individuals. Ascensus supports over 60,000 retirement plans, more than 4 million 529 education savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.6 million IRAs and health savings accounts. As of March 31, 2018, Ascensus had over $187 billion in total assets under administration. For more information about Ascensus, visit ascensus.com.
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