Empower Acquires Equity Compensation Platform OptionTrax

The deal expands Empower’s services into equity compensation administration and management.

Empower, a retirement and wealth management services provider, has acquired Plan Management Corp., the developer of OptionTrax, a digital platform for workplace equity plan administration.

Based in West Conshohocken, Pennsylvania, PMC’s technology, proprietary products, services, intellectual property, licenses and contracts are now wholly owned by Empower under the terms of the agreement announced on Monday. The firms did not disclose terms of the deal.

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OptionTrax specializes in solutions for administering and managing equity compensation, including stock options and restricted stock units. OptionTrax also supports plan design, grant management, financial reporting, vesting schedules and tax calculations.

The firm services more than 300 employers and manages about $62 billion in equity compensation plans.

“There’s significant unmet demand for equity compensation services,” Jonathan Miller, PMC’s founder, said in a statement. “By leveraging Empower’s scale and distribution network, we’ll be able to extend OptionTrax’s innovative offerings to a broader range of employers.”

Along with the acquisition, Empower has launched Empower Stock Plan Services LLC, led by Dave Gray, its executive vice president for enterprise solutions. Gray noted that many 401(k) clients have expressed interest in equity compensation services, and this acquisition reflects Empower’s continued expansion of its workplace benefits and wealth management offerings.

“Empower believes advisers and consultants will welcome the chance to work with Empower’s OptionTrax platform,” says Gray. “Our focus on multiple markets—across both publicly held and private corporates of all sizes—is unlike some other providers who choose to focus on only some segments.”

Following the acquisition, OptionTrax will be rebranded as “OptionTrax by Empower.” The firm’s services will also be integrated into Empower’s digital platform, expanding users’ ability to manage and view their full financial situation including equity compensation programs.

“We believe that consultants serving larger corporate clients will welcome our integrated workplace and financial planning experience for participants,” says Gray. “In addition, the delivery of equity compensation solutions will be additive to conversations between advisers serving smaller corporate plans, Empower and our shared clients.”

College for Financial Planning Launches Accredited Investment Fiduciary Training Program

Fi360, a Broadridge Company, selected the College as the official education provider.

The College for Financial Planning—a Kaplan Company—has launched an Accredited Investment Fiduciary training program, designed to help financial professionals earn the AIF designation, according to a Monday announcement.

Fi360, a Broadridge Company and the owner of the designation, has named the College an official education provider for the program. This partnership allows candidates pursuing the AIF credential to meet the necessary training requirements to sit for the exam.

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“We see the AIF as a great ‘first’ designation due to its high credibility and relative low time commitment to achieve,” John Faustino, head of Broadridge’s Fi360, said in a statement. “The College is well positioned to help address growing AIF training demand from wealth advisors and other financial professionals.”

The AIF designation ensures that professionals advising on investor assets have a solid understanding of fiduciary duties and the standards required to act in their clients’ best interests. Fi360’s accreditation by the ANSI National Accreditation Board under the international standard 17024 places the AIF designation among an elite group of financial certifications, according to the Kaplan company.

“Through premier student-centered education like our AIF training, the College continues to advance the field of financial planning by empowering our students to make a difference in their clients’ lives and thrive in their own careers,” Dirk Pantone, president of the College, said in a statement. “The College is incredibly excited to continue this commitment by helping financial professionals earn their AIF® designation, which lets consumers know that their interests will take top priority.”

In April, OneAmerica Financial Partners Inc. and Broadridge Financial Solutions Inc. had announced a collaboration to provide 30 female financial advisers with free training for the AIF designation.

The OneAmerica Financial Female Retirement Professionals Program is led by Sandy McCarthy, president of Retirement Services at OneAmerica Financial, with the goal of elevating women in the financial services industry. OneAmerica’s retirement division will be acquired by Voya as of 2025, according to an agreement the firms announced earlier this month.

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