Strategic Insight acquires BrightScope
The 401(k) ratings provider has been snapped up by an asset management data and research provider that's also the parent company of a publication for financial advisers.
BrightScope Inc., a financial services data provider, has been acquired by Strategic Insight, according to an announcement Nov. 1.
Founded in 2008 by two brothers, Mike and Ryan Alfred, San Diego-headquartered BrightScope is well known for its ratings of 401(k) and other defined contribution plans. It also provides sales and distribution data for asset managers and other enterprise channels, as well as an investor-facing, national database of financial advisers.
“The financial services industry is going through tremendous change and we believe this combination will give us the platform and products to meet the evolving needs of our customers,” Mike Alfred said.
The acquisition by Strategic Insight, a data and research shop for the asset management industry backed by private-equity firm Genstar Capital, expands the company’s “data offering and research and development capacity,” and adds retirement data to the company’s portfolio, according to chief executive Joel Mandelbaum.
New York-headquartered Strategic Insight is also the parent company of the industry publications PLANADVISER and PLANSPONSOR.
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