Corporate growth

Ascensus Expands Employee Benefits Administration and Compliance Capabilities with Agreement to Acquire UnifyHR

Fortifies Expertise in ACA Compliance, COBRA Administration, and Eligibility Verification Services Within Health & Benefits Line of Business

Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire UnifyHR, a third-party administrator that provides employee benefits administration and compliance solutions including Affordable Care Act (ACA) compliance, Consolidated Omnibus Budget Reconciliation Act (COBRA) administration, and eligibility verification services. It will immediately become part of Ascensus’ Health & Benefits line of business.

The transaction is expected to close on July 1, 2021. Terms are not being disclosed.

Founded in 2013 and based in Irving, TX, UnifyHR provides flexible and affordable support that helps employers manage complex employee benefits programs so they can focus on their core business. Its suite of offerings, managed through a proprietary system that also supports premium billing services and dependent eligibility audits, covers an employee’s entire lifecycle from new hire to retiree.

“UnifyHR has been highly successful in taking the complexity out of employee benefits administration and compliance obligations,” states David Musto, president and CEO of Ascensus. “By adding their knowledge and expertise to our Health & Benefits line of business, Ascensus reaffirms our commitment to helping employers satisfy their fiduciary and compliance responsibilities by making employee benefits easier to manage.”

“At Unify HR, we take pride in our deep experience in employee benefits administration and compliance services as well as our collaborative and close-knit culture,” says Allen Gehrki, UnifyHR’s president and CEO. “We’re looking forward to becoming part of Ascensus and continuing to deliver high-quality benefit services that are tailored to meet even the most complicated business requirements.”

“The comprehensive array of tech-enabled services offered by UnifyHR spanning ACA and COBRA administration, state health insurance mandate filings, and eligibility verification will expand Ascensus’ Health & Benefits solutions considerably,” says Raghav Nandagopal, Ascensus’ chief corporate development officer. “We’re delighted to welcome UnifyHR’s clients and associates to Ascensus and will continue to pursue opportunities to broaden our consumer-directed healthcare and employee benefits administration offerings.”

 

About Ascensus
Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is the largest independent recordkeeping services provider, retirement plan third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com. Explore Ascensus’ latest data and insights on savings behaviors at pulse.ascensus.com.


Ascensus to Be Acquired by Stone Point Capital and GIC From Private-Equity Consortium

Ascensus announced today that funds managed by Stone Point Capital, the Greenwich, CT-based private equity firm specializing in financial services, along with GIC, Singapore’s sovereign wealth fund, have entered into a definitive agreement to acquire Ascensus from its current private equity ownership group led by Genstar Capital, Aquiline Capital Partners, and Atlas Merchant Capital. Genstar Capital and Aquiline Capital Partners will maintain a minority stake in Ascensus.

The transaction is expected to close in the third quarter of 2021, following regulatory approvals and other customary closing conditions. Terms of the transaction were not disclosed.

Now in its 41st year of operations, Ascensus is a technology-enabled services company that helps millions of people save for retirement, education, and healthcare. It is also the leading independent recordkeeping services partner, retirement plan third-party administrator, and government savings facilitator in the United States. Through the company’s network of institutional, financial advisor, and state partners, Ascensus supports more than 12 million savers through a variety of tax-advantaged retirement, education, and consumer-directed health savings accounts.

“We are delighted to partner with Stone Point Capital and GIC, who share our confidence in the strategic importance and growth potential of the retirement, education, and health savings markets,” said David Musto, president and CEO of Ascensus. “Their commitment will only strengthen our ability to continue investing in new capabilities, technology, and solutions; enhance our already world-class client service levels; and attract top talent to our organization.”

Musto added, “We thank Genstar Capital, Aquiline Capital Partners, and Atlas Merchant Capital for their support throughout our long relationship, which helped us become the leader we are today in the markets we serve.”

“We have followed Ascensus’ success for some time and see tremendous opportunities for further growth and positive impact on the industry,” said Chuck Davis, CEO of Stone Point Capital. “We believe Ascensus is a true leader in providing technology, expertise, and partnership to enable savings across the critical areas of retirement, education, and healthcare. We look forward to partnering with their management team and talented associates to support their continued growth, solutions innovation, and strong service delivery.”

Yong Cheen Choo, GIC’s chief investment officer of private equity, said, “Ascensus is delivering industry-leading solutions to help people save for what matters most. As a long-term investor, we believe Ascensus’ unique technology, market insights, and business knowledge will continue to drive growth and innovation in this space. We are thrilled to grow our years-long partnership through this increased investment, and look forward to working with Ascensus’ impressive management team over the long term.”

“Our journey with Ascensus and their management team over the last five years has been both remarkable and rewarding,” said Tony Salewski, managing director of Genstar.

Jeff Greenberg, chairman and CEO of Aquiline Capital Partners added, “We are very pleased Ascensus has become a market-leading savings business, having grown both organically and through acquisitions under our ownership. The company is well led and in a strong position to achieve its next phase of development over the coming years.”

“It has been an honor to be an investor in Ascensus twice in my career,” said David Schamis, founding partner and chief investment officer of Atlas Merchant Capital LLC. “Ascensus combines a strong market position with a highly skilled and shareholder value-focused management team. I am eager to continue to watch them flourish.”

Barclays and Goldman Sachs & Co. LLC acted as co-financial advisors to Ascensus in connection with this transaction. J.P. Morgan Securities LLC acted as sole financial advisor to Stone Point Capital. Willkie Farr & Gallagher LLP acted as legal counsel to Ascensus. Simpson Thacher & Bartlett LLP acted as transactional counsel to Stone Point Capital. Kirkland & Ellis LLP acted as financing counsel to Stone Point Capital.

 

About Ascensus
Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is the largest independent recordkeeping services provider, retirement plan third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com.

Get the latest trends and insights based on our proprietary data from more than 113,700 retirement plans, 6.0 million 529 accounts, 426,500 health savings accounts, and 23 ABLE plans.* Inside America’s Savings Plans highlights average savings levels across these tax-advantaged accounts and showcases plan features that drive participation and growth.

*As of December 31, 2020.

 

About Stone Point Capital LLC
Stone Point is an investment firm based in Greenwich, CT, with approximately $30 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in a number of alternative asset classes, including private equity through its flagship Trident Funds. Stone Point also manages both liquid and private credit funds and managed accounts. In addition, Stone Point Capital Markets supports our firm, portfolio companies and other clients by providing dedicated financing solutions. For more information, please visit www.stonepoint.com.

 

About GIC
GIC is a leading global investment firm, established in 1981, to strengthen Singapore’s financial future by managing its foreign reserves. As a disciplined long-term value investor, we engage across a wide range of asset classes in over 40 countries. Headquartered in Singapore, we have a strong global talent force of over 1,700 people positioned in 10 key financial cities. For more information on GIC, please visit www.gic.com.sg or LinkedIn.

 

About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York and London investing in businesses across the financial services sector in banking and credit, insurance, investment management, and financial technology and services. The firm had $6.1 billion in assets under management as of December 31, 2020. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.

 

About Genstar Capital LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Together with Genstar X and all active funds, Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials and software industries.

 

About Atlas Merchant Capital LLC
Atlas Merchant Capital LLC was founded to participate in compelling market opportunities in the financial services sector. Based in New York and London, Atlas Merchant Capital was founded by Bob Diamond and David Schamis, who together with their partners form a complementary partnership with extensive operating and investing expertise across the financial services landscape. For more information about Atlas Merchant Capital, please visit www.atlasmerchantcapital.com.


Ascensus Adds Healthcare Actuarial Services, Expands Retirement and Consumer-Directed Healthcare Administration Capabilities with Agreement to Acquire Nyhart

Nationally Renowned Employee Benefits Consulting Firm to Become Part of FuturePlan by Ascensus

Dresher, PA—Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire Nyhart, an employee benefits consulting firm that provides retirement (defined contribution, defined benefit, and actuarial) and healthcare actuarial services along with consumer-directed health and benefit continuation administration. Nyhart will immediately become part of the FuturePlan by Ascensus line of business.

Headquartered in Indianapolis, Indiana, Nyhart serves more than 2,400 clients in all 50 states from 9 strategically placed locations. With client assets that exceed $20 billion, the firm specializes in bringing a consultative approach to large, complex plans and is home to a talented employee population that features nearly 100 actuaries, employee benefit consultants, and administrators. Nyhart works with a diverse client base that includes states, cities, and municipalities; professional services firms; public sector entities; healthcare systems; religious organizations; and higher education institutions. Along with its retirement and healthcare solutions, the firm also offers Votaire, a proprietary health and financial wellness platform that allows employers to provide employees with the tools to help them develop a plan for reaching their financial goals.

“Nyhart’s unique strengths complement our already broad service offerings at FuturePlan and immediately increase our capacity to serve larger, more complex plans,” states Jerry Bramlett, head of FuturePlan. “We’re pleased to welcome Lisa Hague and her management team along with Nyhart’s exceptional group of associates—their skills and expertise will further strengthen our competitive edge in the retirement and benefits industry.”

“At Nyhart, we consistently look to hire and invest in high-quality people in order to provide the best possible service throughout our lines of business,” says Lisa Hague, Nyhart’s chief executive officer. “As part of FuturePlan, we can access the resources of a larger organization to the benefit of our clients while still providing them with the personalized experience and creative solutions that they’ve come to expect from us.”

“Nyhart has an outstanding track record of success, client focus, and service quality over multiple decades,” notes Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “It is a highly reputable and well-run company positioned for growth through the cultivation of strong industry relationships and the delivery of differentiated solutions to a diverse client base.”

“With this acquisition, we significantly expand our retirement and healthcare offerings on a national level while leveraging Nyhart’s healthcare actuarial solutions as a new service to our distribution partners and current and prospective clients,” concludes Nandagopal.

 

About Ascensus
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.

 

About FuturePlan by Ascensus
FuturePlan by Ascensus is the nation’s largest retirement third-party administrator, combining high-touch local service with the strength and security of an industry leader. A line of business within Ascensus, FuturePlan’s dedicated team serves more than 46,000 retirement plan sponsors in more than 40 locations across the country as of September 30, 2019. For more information, visit futureplan.com.


Ascensus Enhances Retirement and Employee Benefits Administration Capabilities with Agreement to Acquire Goldleaf Partners

Multi-Faceted TPA Adds to FuturePlan by Ascensus’ Geographic Footprint and Product Offerings

Dresher, PA—Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire Goldleaf Partners, a third-party administrator (TPA) that provides retirement administration and fiduciary, employee benefits, payroll integration, consumer-directed health, and COBRA services to a diverse set of clients across the country. The firm will immediately become part of the FuturePlan by Ascensus line of business.

Headquartered in Bloomington, Minnesota, Goldleaf Partners’ business and services model helps clients concentrate on their core business by reducing their administrative task load. It delivers superior service by developing client-centric relationships, exceeding expectations, and deploying innovative solutions. Goldleaf Partners services clients nationwide and is committed to providing dedicated support that addresses each client’s unique needs.

“Goldleaf Partners is well-known for excellence and expertise in employer services,” states Jerry Bramlett, head of FuturePlan. “Their 100+ highly skilled professionals—along with their reputation for innovation and unparalleled service—will be welcome additions to FuturePlan.”

“We strive to be our clients’ most engaged and responsive partner so that they can focus on managing and growing their businesses,” says Michael King, Goldleaf Partners’ founder and chief executive officer. “New and existing clients of Goldleaf Partners can rest assured in the knowledge that, as part of FuturePlan, we’ll put them and their objectives first so that we can continue to deliver the best service experience possible.”

“In Goldleaf Partners, Ascensus is acquiring a well-respected and dynamic TPA that provides a highly desirable combination of services,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “The firm embodies the qualities we look for as we continue to execute on our growth strategy: a market-leading reputation, favorable geographic footprint, and solid leadership team combined with a strong company culture and an unrelenting dedication to servicing its clients.”

 

About Ascensus
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.


Ascensus Appoints New Regional Vice President

Jonas Merk Joins Sales Team to Support Financial Advisors and Their Clients in the New York Metro Region

Dresher, PAAscensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—is pleased to announce the appointment of Jonas Merk as regional vice president of the firm’s retirement plan sales team for the New York Metro region, covering New York City, Long Island, and Westchester County.

In this role, Merk will work with financial advisors, third-party administrators, and financial institutions—including institutional and DCIO (defined contribution investment only) partners—to build and maintain Ascensus’ retirement plan distribution networks. He will report directly to Anthony Bologna, divisional vice president of the eastern region, retirement sales.

Merk brings more than 15 years of retirement industry experience to his role, including expertise in all aspects of distribution, brand exposure, and assisting partners to scale their practices. Prior to joining Ascensus, he served as a regional vice president for Nationwide Financial, where he achieved several notable accomplishments that included development of a top five sales territory (NY Metro) and recognition as NAPA DC Wingman. Merk attended Montclair State University and holds his FINRA Series 7, 66, and 63 licenses.

“In addition to routinely achieving exceptional results for himself and his partners, Jonas possesses interpersonal skills that allow him to develop long-term, trusting relationships with clients,” says Jason Crane, head of retirement sales at Ascensus. “Adding someone of his caliber demonstrates Ascensus’ ability to attract and retain high-end talent, and is indicative of our commitment to help people save for what matters most.”

 

About Ascensus

Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.


Ascensus Announces Acquisition of Contractor Retirement and Benefit Solutions Provider Beneco

FuturePlan by Ascensus to Offer Advanced Expertise in Increasingly Complex and Competitive Prevailing Wage Market

Dresher, PA—Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has acquired Beneco, a leading provider of bundled retirement and health & welfare benefits administration solutions in the prevailing wage market, from Alpine Investors. The firm, which offers a full suite of recordkeeping, third-party administration, and benefit plan consulting services, will immediately become part of the FuturePlan by Ascensus line of business.

Beneco, which is headquartered in Scottsdale, AZ, allies with contractors to empower them to build their businesses while helping their employees work toward a secure and prosperous future for their families. With more than three decades of benefits experience serving the prevailing wage space, Beneco has the expertise and credibility needed to serve the complex needs of prevailing wage business owners and their employees. Waller Helms Advisors served as the exclusive financial advisor to Beneco and Alpine Investors for the transaction.

“At FuturePlan, we understand that contractors face unique challenges when it comes to creating and managing an employee benefits plan while keeping the cost of their bids down,” states Jerry Bramlett, head of FuturePlan. “Beneco is one of the largest prevailing wage specialists in the country—adding their significant scale and unrivaled expertise to the FuturePlan team will allow us to help prevailing wage businesses to build a better future for their employees while giving them the ability to be more competitive with their contract bids.”

“For more than 30 years, Beneco has partnered with prevailing wage businesses all over the country to help them provide their employees with comprehensive benefits and valuable retirement plans,” states Kristy Bryson, Beneco’s chief executive officer. “We have invested time and resources to successfully position our business for the future and are excited to execute on new growth opportunities as part of FuturePlan.”

“Acquiring Beneco allows FuturePlan to significantly strengthen its position in the prevailing wage market,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “It also expands our presence in Arizona, which continues to be an attractive region in terms of growing our geographic footprint.”

“We continue to look at attractive opportunities that expand our existing businesses, fill product gaps, and penetrate new geographies within the retirement and health & wealth market segments,” concludes Nandagopal.

About Ascensus

Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit
ascensus.com. View career opportunities at careers.ascensus.com.


Ascensus Acquires United Retirement Plan Consultants

Firm Expands FuturePlan Division to Deliver Unmatched Levels of Service, Innovation, and Expertise to a Broader National Client Base

Dresher, PA—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—has acquired United Retirement Plan Consultants (URPC). The third-party administration (TPA) firm will immediately become part of FuturePlan by Ascensus.

Based in Dublin, Ohio, URPC is a leader in retirement plan design, consulting, and administration services. The firm delivers tax‐efficient retirement plans—including 401(k), traditional defined benefit, cash balance, and employee stock ownership plans—and serves thousands of clients from sales and service centers in office locations throughout the country.

“Like FuturePlan, URPC is structured as a national network of local experts,” states Jerry Bramlett, head of FuturePlan. “Our leadership group is looking forward to working with the 200+ URPC associates to continue to provide their clients with great support while building an enhanced service experience.”

“With the addition of URPC, FuturePlan now has more than 48,000 plans under administration,” continues Bramlett. “We see an opportunity to use their scale to further the expansion of our national TPA service model. Along with our continued investment in technology, infrastructure, sales, plan services, and solutions delivery capabilities, this will further strengthen our geographic focus and help to deepen our platform, channel partner, and financial advisor relationships.”

“Our proven, successful, and thoughtful approach to integration will allow us to bring URPC into FuturePlan to continue to deliver a best-in-class service experience. We’d like to thank outgoing CEO Lee Bachu for her contributions to the business and wish her continued success,” concludes Bramlett.

“URPC brings meaningful size to FuturePlan with a comprehensive array of product offerings that are well aligned to expand our growth strategy,” states Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “In addition, this acquisition will be additive to our ongoing geographic expansion, especially in terms of providing access to areas where we are seeking to establish a greater presence.”

“We look forward to leveraging URPC’s national presence and service delivery model,” continues Nandagopal. “And we are delighted for URPC’s associates to become part of the FuturePlan team.”

About FuturePlan by Ascensus
FuturePlan by Ascensus is the nation’s largest retirement TPA, combining high-touch local service with the strength and security of an industry leader. A business division of Ascensus, FuturePlan’s dedicated team serves more than 48,000 retirement plan sponsors in over 40 locations across the country. For more information, visit futureplan.com.

About Ascensus
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.


Ascensus Expands Arizona Footprint with Agreement to Acquire Pension Strategies, Inc.

Addition of Retirement TPA Offers Clients Access to More Expertise and Extends Reach of FuturePlan by Ascensus

Dresher, PA  Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—is pleased to announce that it has entered into an agreement to acquire Pension Strategies, Inc. The third-party administration (TPA) firm will immediately become part of FuturePlan by Ascensus.

Based in Phoenix, Arizona, Pension Strategies provides customized qualified retirement plan consulting, design, and administration for small- to medium-sized businesses. The firm’s high-caliber team works closely with clients and advisors to develop creative solutions and meet evolving goals via progressive thinking, exceptional service, and professional teamwork.

“Among other things, Pension Strategies is known throughout the industry for its in-depth knowledge base, commitment to service, and responsive solutions,” says Jerry Bramlett, head of FuturePlan by Ascensus. “I’m pleased to welcome their associates and the experience, expertise, and leadership they bring to FuturePlan by Ascensus.”

“At Pension Strategies, we take the time to listen to clients’ personal and business objectives in order to provide solutions that can meet their needs,” says S. Jill Hastings, Pension Strategies’ chief executive officer. “We look forward to continuing to offer clients the highest level of professional, personal service as part of FuturePlan by Ascensus.”

Arizona is a very important market for us; acquiring Pension Strategies enables our continued expansion that was started with the opening of Ascensus’ Tucson office in 2017,” states Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “Specifically, the Phoenix area is primed for tremendous growth in terms of retirement services—we are delighted to have Pension Strategies, a well-run business with a strong management team, to be a critical part of Ascensus’ geographic expansion into this location.”

 

About FuturePlan by Ascensus
FuturePlan by Ascensus is the nation’s largest retirement TPA, combining high-touch local service with the strength and security of an industry leader. A business division of Ascensus, FuturePlan by Ascensus’ dedicated team serves more than 38,000 retirement plan sponsors in over 40 locations across the country. For more information, visit futureplan.com.

 

About Ascensus
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.


FuturePlan by Ascensus Appoints Theresa Ayers as Vice President of Business Development

Current and Prospective Institutional Clients Will Benefit from Seasoned Industry Veteran’s Expertise

Dresher, PAFuturePlan by Ascensus—the nation’s largest retirement TPA—is pleased to announce that Theresa Ayers has been appointed as vice president of business development.

In this role, Ayers will partner with Kasey Price, head of institutional sales for FuturePlan, to support strategic alliances and relationships with current and prospective institutional clients. She has more than 20 years of financial services experience and will be a valuable resource for the firm’s sales, service, and operations teams.

Prior to joining FuturePlan by Ascensus, Ayers worked in multiple capacities for Lincoln Financial Group. She most recently served as business development manager and TPA wholesaler, with responsibilities that included increasing sales and conducting seminars and training for key TPAs. Ayers earned her B.S. in Marketing from Ball State University.

“Theresa has extensive experience with TPAs, advisors, and recordkeepers, which makes her a great fit for her new position,” said Jerry Bramlett, head of FuturePlan. “Her proven ability to create and maintain relationships will help to enhance our visibility and productivity among recordkeepers, broker-dealers, RIAs, and specialist firms.”

About FuturePlan by Ascensus

FuturePlan by Ascensus is the nation’s largest retirement TPA, combining high-touch local service with the strength and security of an industry leader. A business division of Ascensus, FuturePlan’s dedicated team serves more than 34,000 retirement plan sponsors in 42 locations across the country. For more information, visit futureplan.com.

About Ascensus

Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.


Ascensus Announces Agreement to Acquire Oregon-Based Wrangle

Expands Compliance Capabilities with Addition of Leading Provider of Health & Welfare Form 5500 Preparation and ERISA Health & Welfare Plan Document Services

Dresher, PA—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire Wrangle, the leading provider of health & welfare Form 5500 preparation and related ERISA compliance services in the country.

Based in Junction City, Oregon, Wrangle supports employee benefits brokers and plan sponsors across the U.S. by providing Form 5500 filing services for their clients. The firm’s unrivaled effectiveness in this area is attributable to its unique proprietary technology, which helps brokers by taking on all aspects of the Form 5500 process from beginning to end, including collecting information from carriers, managing schedules and deadlines, and seamlessly e-filing information with the Department of Labor. Wrangle is managed by highly experienced employee benefits professionals who understand the benefits process—especially the strict reporting requirements of ERISA health and welfare regulations, as well as provisions associated with ERISA wrap-plan documents and non-discrimination testing.

ERISA compliance, plan documentation, filing, and related services have been among Ascensus’ core offerings for many years across its Retirement, Health, and TPA Solutions business segments. The firm significantly expanded its benefit administration offerings in 2018 with the acquisitions of Chard Snyder and Benefit Planning Consultants, Inc., which provide consumer-directed healthcare administration (e.g., health savings accounts, flexible spending accounts, and health reimbursement accounts) and benefit continuation services (e.g., Consolidated Omnibus Budget Reconciliation Act and retiree billing administration).

“Wrangle has built a strong business—and reputation—via its proven technology platform (which we intend to maintain and further enhance) that serves hundreds of brokers and plan sponsors,” says David Musto, president of Ascensus. “The real drivers of Wrangle’s success, though, are the people behind the business and the outstanding customer service that they provide; it’s my pleasure to welcome their team of talented and experienced associates to Ascensus.”

“Joining Ascensus will allow us to continue to meet the compliance needs of our clients with the support of a nationally recognized, benefits-focused organization,” says Lynda Taylor, Wrangle’s chief operating officer. “We’ll take advantage of their considerable resources to maintain our status as a service champion and solid partner for those seeking assistance with health & welfare Form 5500 filings and ERISA reporting and disclosure.”

“Wrangle owns an almost 25% market share in providing health & welfare Form 5500 solutions and has long-standing relationships with the nation’s largest employee benefits brokers,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “We’re excited to bring their compliance expertise and technology capabilities in-house to leverage them in our benefits administration business and in our retirement and TPA businesses as appropriate.”

 

About Ascensus
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.