Deals and People

Retirement Industry People Moves

By Javier Simon editors@assetinternational.com | April 14, 2017
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Retirement LLC Acquires Summit Group TPA Division

Retirement LLC announced that it has signed a definitive agreement to purchase the third party administrator (TPA) division of Summit Group, based in Oklahoma City. The transaction closed on April 1, 2017.

Summit Group offers plan design consulting, recordkeeping, administration and compliance services for retirement plans of all sizes.

"The addition of Summit Group further expands our market share in Oklahoma and across the United States while adding an experienced client services team that understands the complex TPA retirement business. This acquisition adds significant strategic value to the future growth of our organization” says Dana Hagen, president/CEO of Retirement LLC.

The move marks the firm’s fourth acquisition in the past four years. Gay Williams, Summit Group vice president says, “We have a commitment to our clients to provide extremely high service levels that meet all of their needs. We will continue to grow and now have a national platform to add more business without compromising the quality of the service for our clients.”

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