ExpertPlan, Ascensus in Merger Agreement

Ascensus’ interest in ExpertPlan stems from the complementary open-architecture investment platform and the additional solutions offered in some key areas including micro plan Web-based  services, defined benefit, including cash balance plan services and non-traditional asset defined contribution plan recordkeeping and  administration. The ExpertPlan team also distributes through a broad network of intermediary partners, which is very similar to the Ascensus approach. The acquisition is expected to close by the end of 2012.  

The transaction addresses the key attributes Ascensus looks for in an opportunity: expanding market share in growing markets, entering new growth markets and delivering solid margins, said Bob Guillocheau, president and chief executive, Ascensus. “Being able to offer these new services to our existing relationships is something that will help our clients meet their business goals and that is one of our primary focuses as a high-quality service provider,” Guillocheau said.

“ExpertPlan is very proud and excited to join the family of Ascensus companies,” said Julian Onorato, CEO and chairman of the board, ExpertPlan. “The combination of two complimentary national firms will provide our clients, Private Label Partners and prospects with industry-leading creative solutions.”

Ascensus, in Dresher, Pennsylvania, is a retirement plan solutions provider.

ExpertPlan is a provider of micro and small plan recordkeeping and administrative services for approximately 16,000 plans with a focus on providing Web-enabled technology services.