Daybright Financial Expands Retirement Solutions with Strategic Acquisition of The Platinum 401k, Inc.

Daybright Financial Acquires The Platinum 401k, Inc.

On September 16, 2025, Daybright Financial announced a pivotal move in its expansion strategy with the acquisition of Clearwater, Florida-based The Platinum 401k, Inc., a retirement plan administrator well-regarded in the industry. This acquisition marks Daybright Financial's third strategic purchase of the year, reinforcing its commitment to enhancing retirement offerings across the Professional Employer Organization (PEO) and Multiple Employer Plan (MEP) sectors.

Strengthening Retirement Solutions

The Platinum 401k has carved a niche as a leader in the administration of Multiple Employer Plans (MEPs) and Pooled Employer Plans (PEPs). The company’s extensive knowledge concerning ERISA 3(16) compliance—the section of federal law that oversees retirement plans—positions it favorably to serve small and mid-sized businesses. Moreover, these capabilities align seamlessly with Daybright's overarching mission of simplifying health and financial wellness for clients.

Megan Schneider, CEO of Daybright Financial, emphasized the significance of this acquisition: "This acquisition reflects our commitment to delivering smarter, more accessible retirement solutions. The Platinum 401k team brings a powerful combination of innovation, integrity, and operational excellence. Together, we'll accelerate our ability to serve clients with flexible, compliant, and cost-effective retirement plans."

Patrick Hale, the head of Private Sector Retirement at Daybright, added: "The Platinum 401k enhances our Private Sector Retirement Solutions segment with proven leadership in the MEP/PEP space. Their approach to simplifying retirement plan administration is exactly what our clients need in today's complex benefits landscape."

A Natural Fit

According to Terry Power, Founder and CEO of The Platinum 401k, joining Daybright Financial is a natural progression. He noted, "We’ve always believed in making retirement plans easier and more affordable. With Daybright’s resources and reach, we’re excited to scale our impact and continue delivering exceptional value to our clients."

This acquisition comes on the heels of Daybright's earlier strategic ventures, including the addition of Spectrum Pension Consultants, Inc. and Hessel Associates, LLC, further solidifying its status as a favored partner in the sector and expanding its national footprint in retirement and benefits solutions, as well as the associated compliance requirements.

About Daybright Financial

Daybright Financial has emerged as one of the nation's largest independent, privately held firms specializing in employee benefits, retirement plans, and all their associated compliance needs. Since its founding in 2008, the company has grown exponentially, acquiring over 60 local and national firms that have long been trusted members of their communities. Daybright proudly holds the "Best Places to Work – USA" certification and currently serves more than 18,000 employer groups and 3.6 million plan participants nationwide.

To learn more about Daybright Financial, visit daybright.com. Follow Daybright Financial on LinkedIn, Instagram, Facebook, and YouTube for the latest updates and insights.

For benefits brokers, consultants, and PEOs interested in collaboration, please visit Daybright Broker Solutions at daybrightsolutions.com.