According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. 644 followers 500 . Edit Contacts Section. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Managing Challenges for Non-Qualified Plans Related to Coronavirus, Plan Sponsor Liability and Fiduciary Responsibilities in Light of COVID-19, Navigating the New Normal: Anticipating Plan Compliance Challenges in the Age of Coronavirus, Helping Plan Participants in the New Normal, How the CARES Act Impacts Retirement Plans, Newports Perspective on Market Volatility, Newports vital 3(16) administrative fiduciary services, An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI). She will be supported by Kurt Laning, executive vice president, nonqualified and insurance solutions, along with Newports senior management team. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newports chief operating officer since 2014has been named interim CEO. Advisors and plan sponsor clients who have specific questions related to The CARES Act or how coronavirus is impacting benefit plans can contact us at coronavirusquestions@newportgroup.com. Terms of the transaction were not disclosed. This site is designed for U.S. residents only. CEO. Please update your bookmarks accordingly. Get a D&B Hoovers Free Trial. As a provider and partner, Newport is independent, experienced and responsive. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. University of Wisconsin-Madison Bachelor Business Administration Recent News and Activity There is no recent news or activity for this profile. The Registered Agent on file for this company is Corporation Service Company D/B/A Csc-Lawyers Incorporationg Service Company and is located at 211 E. 7th Street, Suite 620, Austin, TX 78701-3218. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. With Newports business, Ascensus will also see an expanded tax-advantaged savings participant base, which will now reach more than 15 million people across the United States. Ascensus and Newport Group to Combine and Create a Leading - Benzinga The transaction is expected to close in the first quarter of 2022, subject to the receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking; review and approval by the New Hampshire Banking Department; and satisfaction of other customary closing conditions. Newport Group acquires the Vested Interest defined contribution plan recordkeeping business of PNC Bank. This site is designed for U.S. residents only. Moreover, the firms say that the companies respective investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create better outcomes for savers., Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence, and purpose-built technology, said Musto. Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a definitive agreement under which Newport Group (Newport), the Walnut Creek, California-based retirement services provider, will merge with Ascensus. web design and development by new target, inc. According to a press release, the newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. We may amend this policy from time to time; if we do, we will post those changes on this page within a reasonable time after the change so that you are aware of what information we collect and how we intend to use it. For more information about Newport Group Consulting and its services, Newport Group Securities, Inc. or Newport Securities Insurance Services and services offered, please refer to our Form ADV Part 2, which is available by contacting us at 407-333-2905, visit our website at www.newportgroup.com, or advisorinfo.sec.gov. Newport Group Executive Team | Comparably Quality First. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI), Combination represents a compelling strategic fit and creates a leader in tax-advantaged savings that is well-positioned to lead amid industry transformation. Greg Tschider - CEO at Newport Group | The Org With qualified and nonqualified retirement plan services, fiduciary consulting services and corporate- and bank-owned life insurance (COLI and BOLI) practices, Newport will expand the solutions and expertise Ascensus provides to its clients and adviser partners. Laura Ramanis Chief Operating Officer Laura Ramanis serves as the Chief Operating Officer of Newport Group. Ascensus Scoops Up Newport Group - National Association of Plan Advisors To ensure continuity of leadership, operations, and client service through closing, Laura Ramanis who has served as Newport's chief operating officer since 2014has been named interim CEO. "This transaction is a strategic fit for our company. The company has more than $150 billion in retirement assets under administration and more than $300 billion in corporate retirement and insurance assets. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Newport's experts provideda comprehensive review of this unprecedented legislation and how it impacts the day-to-day operations of retirement plans. Ascensus and Newport Group to Combine and Create a Leading Provider in Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Greg Tschider has stepped down as CEO of Newport. Ugift is a registered service mark. Walnut Creek, CAMay 6, 2019 Newport Group, a leading independent retirement services provider, announced today that it has completed its acquisition of the Vested Interest defined contribution plan recordkeeping business of PNC Bank. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Were redirecting you to the most relevant section of NewportGroup.com. The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed on March 27, 2020, includes several provisions intended to loosen restrictions on and reduce the tax consequences of distributions and loans from retirement plans. We answer some of the most common questions non-qualified plan sponsors may be receiving in light of the novel coronavirus. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. Greg Tschider | ZoomInfo About Us | Retirement, Insurance, Consulting | Newport Will His AI Plans Be Any Different? Privacy PolicyTerms of UseCopyright. How Newport is Responding to COVID-19 | Newport "This transaction is a strategic fit for our company . Director, Executive Finance, Legal, Operations. This transaction is a strategic fit for our company. Joining with Ascensus provides additional resources to continue the expansion of services, and I am excited to see the new ways that our combined associate teams will work together for our clients., Noting the significant opportunities to capitalize on the strengths of both companies, Musto said, Ultimately, the talent and extensive experience of our organizations are the most valuable assets our companies bring to this combination. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. Integrity Always." is a registered trademark used under license by Ascensus, LLC. WALNUT CREEK, CA, June 8, 2018 -- Newport Group, a leading provider of retirement plans, insurance, and consulting services, announced today that the company has reached an agreement with the private equity firm Kelso & Company (Kelso). Navigating the New Normal: Anticipating Plan Compliance Challenges in the Age of Coronavirus. General FAQ $50M to $100M. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. This site is designed for U.S. residents only. This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Please update your bookmarks accordingly. Not Quite, The ERISA Industry Committee Promotes Two, Announces Priorities. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. Our union confirms the hard work of our dedicated employees and partners. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Greg Tschider - CEO at Newport Group - Wiza Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. Newport Group Acquires PNC Bank's Vested Interest | Newport Peers. Greg Tschider has stepped down as CEO of Newport. Ascensus, Newport Group merge - InvestmentNews Ascensus Scoops Up Newport Group - AMERICAN SOCIETY OF PENSION Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. / Newport Group, Inc. Newport Group, Inc. Website. Were redirecting you to the most relevant section of NewportGroup.com. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Your Sunday Asia Briefing: China Military Boost, Kurodas Last Bow, Notorious Prisoner Charles Bronson to Face Public Parole Hearing, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Japan Planning Steps to End South Korea Trade Rift, Yomiuri Says, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, Chinas 5% GDP Target SignalsCrackdowns Are Not Over. This site is designed for U.S. residents only. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. Annual Revenue $25-100M Agree? After the acquisition, Greg Tschider, CEO of Verisight, will be chief executive of the qualified retirement plan services business, and Newport CEO Peter Cahall, will be chief executive of the . Verisight will continue to be led by Greg Tschider, who helped a family business based in Chicago roll up trust and custody firms before they sold that and moved on to the record keeping industry. The capital behind Verisight is Stone Point, a hedge fund in Greenwich, Conn. that bought out the Chicago family office a couple of years ago. In addition, the companies respective investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create better outcomes for savers. Under Greg's leadership, Newport has grown to a national full-service retirement provider servicing more than $265 billion of corporate retirement and insurance assets and 1.4 million plan participants. Enroll in Your Plan, For account questions or help logging in, With Newports business, Ascensus will see an expanded tax-advantaged savings participant base, including more than 140,000 nonqualified retirement plan participant accounts. In that time, employees at the company's offices nationwide have helped more than 3,600 children get new shoes, jackets and socks! By using our website, interacting with us on social media, or communicating with us via email or other electronic messages (Digital Presence), you consent to the collection, use, and storage of your personal and non personal information as described by our Terms & Conditions of Use, which includes our Privacy & Security Statement. This includes 529 plans, ABLE [Achieving a Better Life Experience] savings accounts and state-facilitated retirement programs. The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm.. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Greg Tschider - Crunchbase Person Profile Participant Login FAQ Ascensus gobbles up Newport | Ary Rosenbaum - The Rosenbaum Law Firm P DRESHER, Pa., Nov. 3, 2021 /PRNewswire/ -- Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a . This site is designed for U.S. residents only. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. EVP, Client Services at Newport Group. (November 3, 2020) - Newport Group, Inc. (Newport) announced today that it has completed the purchase of Plan Administrators, Inc. (PAi), a third party administrator and recordkeeper headquartered in De Pere, Wisconsin. Newport Group Enters into Definitive Agreement to Purchase PNC Bank's Successful organizations have evaluated the competitiveness of their compensation programs, retirement plans, and employee benefits portfolio to effectively compete for and retain the talent that drives success. The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm. Musk Made a Mess at Twitter. Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. To ensure continuity of leadership, operations, and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer since 2014has been named interim CEO. The wonderful folks at Newport Group, a leading provider of retirement plans, insurance and consulting services, have been working with Shoes That Fit since 2012. Ascensus and Newport Group to Combine and Create a Leading Provider in Ascensus completes its merger with Newport. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer (COO) since 2014has been named interim CEO. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus.
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