Ascensus continues acquisition spree with 12th of the year

Ascensus, a retirement savings technology developer, shows no signs of stopping its acquisition spree, making its twelfth of the year.

The company is set to acquire INTAC Actuarial Services to join its third-party administration (TPA) Solutions division. Ascensus has been building up its TPA unit, with all of the acquisitions it has made this year being brought under the group.

New Jersey-based INTAC offers administration of employer-sponsored retirement plans, supporting around 3,000 SMEs and their employees. The company provides employers needs for retirement plans and offers them with ones to meet their goals but maximising employee retirement benefits.

Services include actuarial and defined benefit strategy consulting, audit support, compliance consulting, efast liaison services and a client portal.

INTAC vice president Charles Rosenberg said, “As a family-run business, we pride ourselves on creating meaningful client relationships and on creating a culture in which employees feel like they’re part of the family.

“As part of Ascensus, we’ll be able to combine our expertise with their resources to continue to provide a proactive, personalized client experience at every interaction with our firm while also offering exciting growth opportunities to our 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.

Last month, Ascensus made three separate acquisitions, with all being incorporated into the TPA Solutions division. Last week, it entered an agreement to buy QBI, an administrator of defined contribution and defined benefit plans in the US.

The other two deals were for retirement actuarial, consulting, administrative and recordkeeping services provider Swerdlin & Co and SES Advisors, a stock ownership plan administration, consulting and recordkeeping company.

Its other acquisitions this year include, Benefit Planning Consultants, Avintus, Chard Snyder, and Qualified Plans.

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