#United States #Retirement Solutions #Ascensus #Dresher #AmericanTCS

Ascensus Closes Acquisition of AmericanTCS

In a major step to solidify its position in the U.S. savings ecosystem, Ascensus has successfully completed the acquisition of AmericanTCS. This move comes as part of Ascensus' broader strategy to enhance its service offerings, technological capabilities, and scale, specifically in the realms of retirement services and trust custody.

Ascensus, known as the driving force behind America’s saving initiatives, aims to bring together the complementary strengths of both organizations to redefine financial security for millions of Americans. With this acquisition, the company will strengthen its ability to provide diverse retirement solutions, making it easier for both small and mid-sized businesses to access workplace retirement plans that serve their employees.

Nick Good, CEO of Ascensus, stated, "Completing this transaction marks an important milestone for Ascensus and AmericanTCS. Together, we are committed to helping more Americans achieve financial security while expanding the technology and capabilities we deliver across the ecosystem."

Benefits of the Acquisition

The combination of Ascensus and AmericanTCS is set to enhance capabilities in several key areas:

• - Expanded Retirement Solutions: The acquisition promises to enhance retirement plan offerings, including pooled employer plans (PEPs) and fiduciary services tailored to meet the needs of diverse clients, from recordkeepers to asset managers.
• - Enhanced Technology Solutions: Ascensus aims to integrate advanced technology workflows including PensionPro, Hub+®, and ERISApedia® to improve functionality and efficiency across its services.
• - Trust and Custody Services: This acquisition brings robust trust custody offerings that are designed to support institutional partners, thereby further enriching the financial service landscape.
• - Additional Expertise: With AmericanTCS's well-established team and experience in the financial services field, Ascensus is set to gain specialized talent that will drive innovation and service excellence.

Tim Friday, the former President and CEO of AmericanTCS, echoed the optimism around this merger, saying, "This partnership allows us to amplify our existing services, benefitting our clients through enhanced resources and technology provided by Ascensus. We are excited about what this means for clients nationwide."

A Seamless Integration Ahead

Ascensus plans to prioritize a smooth transition during the integration process of AmericanTCS, ensuring continuity of service throughout. The company reaffirms its commitment to technology-driven solutions and excellent service delivery as it navigates this new phase in its growth trajectory.

Financial advisors Lazard Frères & Co. LLC and J.P. Morgan Securities LLC have facilitated this acquisition, with supportive legal counsel provided by several prominent law firms, including DLA Piper LLP (US) and Simpson Thacher & Bartlett LLP.

About Ascensus

For those unfamiliar with Ascensus, the company serves as a cornerstone within America’s savings milieu, providing a blend of intuitive technology, AI-driven solutions, and high-touch service. Their diverse offerings support over 16 million savers nationwide, incorporating both qualified and nonqualified retirement plans, third-party administration, and much more.

By combining forces with AmericanTCS, Ascensus not only solidifies its mission to simplify saving for Americans but also lays the groundwork for future innovations in the financial services sector.

As Ascensus looks ahead, the firm is poised to leverage its enhanced platform to deliver broader access to retirement solutions for underserved employers and individuals, continuing to lead the charge in the effort for financial safety and security across the U.S.