Ascensus has agreed to acquire AmericanTCS in a move aimed at expanding its capabilities for financial advisors, institutions and retirement plan partners.
The transaction, announced Monday, combines two firms with complementary offerings across retirement administration, custody and technology automation. Financial terms were not disclosed.
AmericanTCS provides retirement, trust and custody, and workflow automation solutions. Ascensus said the acquisition will deepen its ability to serve advisors, third-party administrators, broker-dealers and other institutional clients through a more integrated technology platform.
"This transaction fundamentally accelerates our ability to deliver technology and service solutions to clients, partners, and savers," said Nick Good, CEO of Ascensus. "At the heart of this transaction is a simple purpose: to help more savers save more. Our complementary strengths, combined with the exceptional talent and expertise of the AmericanTCS team, enhance our ability to support client success and partner growth."
The deal continues Ascensus' expansion strategy as the firm builds out its presence across the retirement services ecosystem. The Dresher, Pennsylvania-based company has grown through a series of acquisitions in recent years as it broadens its recordkeeping, administration and custodial capabilities.
Paul Schneider, CEO of AmericanTCS Holdings, said the two companies share similar priorities around client service and operational execution.
"Ascensus shares our commitment to clients, operational excellence, and building durable, technology-driven businesses. This alignment positions us to deliver significant benefits for both our clients and employees. I am very excited about the opportunities ahead for AmericanTCS as part of the Ascensus team."
Ascensus said the combination is expected to enhance its ability to deliver more comprehensive services to advisors and institutions seeking streamlined retirement and custody solutions.
The transaction remains subject to customary closing conditions.
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