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Deals & People April 8, 2015
ABG Southwest Is New Retirement Services Unit
The certified public accounting and business consulting firm REDW has created Alliance Benefit Group Southwest, a separate company for retirement plan recordkeeping and third-party administration (TPA) services.
Reported by PLANADVISER staff
Alliance Benefit Group Southwest (ABG-Southwest) was formed as a sister firm to focus exclusively on providing retirement plan administration services. The change took effect earlier this year, when all REDW team members in the group transitioned to the new organization. Its name derives from the group’s established participation in Alliance Benefit Group, a nationwide network of independently owned retirement administration firms.
The creation of a separate company allows the firm’s current clients to access dedicated services that meet the needs of retirement plan sponsors and plan participants, says Carol Cochran, REDW principal and head of ABG-Southwest.
According to Dennis Davis, senior manager of ABG-Southwest, the independent, standalone firm ensures continuity of service to its clients by the same team of professionals, some of whom have been with REDW for more than two decades. It also enables the creation of program enhancements and of services, he adds.
The power of the Alliance Benefit Group brand is evident in REDW’s move, says Don Mackanos, president of Alliance Benefit Group. “As the need to retain and attract top talent becomes increasingly more critical, ABG-Southwest is the firm companies want to have on their side,” he says.
Cochran states that the company is not the result of a merger, acquisition or other change in ownership. “This name change does not affect the accounting services offered by REDW,” she says. “We expect ABG-Southwest to grow as prospective clients who need retirement plan administration services—but not the traditional accounting services offered by REDW—engage the new firm.”
ABG-Southwest is planning several programs and enhancements, including a new website for clients, upgrades to the website experience for plan participants, and offering SmartDollar, Dave Ramsey’s financial wellness education package that aims to engage employees in taking control of their finances. SmartDollar is already offered by ABG in Illinois.