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.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
