Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. 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. 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. Greg Tschider has stepped down as CEO of Newport. Banks, Credit Unions, & Financial Institutions, Combination represents acompelling strategic fit and creates a leader in tax-advantaged savings that is well-positioned to lead amid industry transformation. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. 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. Above it says due to getting pension that SS was not collected on will have to adjust. As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. Newport Group acquires Kidder Benefits Consultants, and its affiliate Kidder-Lane Actuarial Services. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. 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. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Contacts. Terms of the deal were not disclosed. web design and development by new target, inc. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. Enroll in Your Plan, For account questions or help logging in, Greg Tschider has stepped down as CEO of Walnut Creek, California-based Newport, and Laura Ramanis, its chief operating officer, will serve as interim CEO until the close of the transaction, the . 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. In another consolidation for the retirement plan business, Ascensus, a recordkeeping services provider and third-party administrator announced it has reached an . Greg Tschider CEO Approval Rating 83/100 Weigh In 1985 Walnut Creek California San Francisco Bay Area Private Merged with Ascensus, LLC Professional Services Payroll & Benefit Support Services 8744 NAICS listing http://www.newportgroup.com Est. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Enroll in Your Plan, For account questions or help logging in, Exclusive Hauser Clip, Retiree Health Care Cost Estimates Still Induce Sticker Shock, 401(k)s Increasingly Under Attack in Wake of SECURE 2.0 Passage, Record Increases Forecast for 2023 Contribution and Benefit Limits, Record Increases Projected for 2023 Retirement Plan Limits, Limits on Wealthy Retirement Accounts Not in Inflation Reduction Act, A Fresh Look at Those the WEP Affects, Proposals to Change it, Retirement Savers Withstand 2022 Rollercoaster as Balances Rebound, Good News in PBGC Pension Insurance Data Tables. 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. We expect the service platform investment, product expansion and enhanced capabilities our union will deliver to be well-received by our collective clients. Newport Group was founded in 1985 and its current CEO is Greg Tschider. DRESHER, Pa., Nov. 3, 2023 /PRNewswire/ 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.The newly combined organization will offer a broader . Ascensus will also have more than 700,000 health and flexible savings and COBRA [Consolidated Omnibus Budget Reconciliation Act] accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 nonqualified retirement plan participant accounts. Wendy Cantey has been working as a Senior Vice President of Strategic Initiatives and the Enterprise Project Management Office, Technol for Newport Group for 1034 . According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. "Evercore's institutional trust and independent fiduciary business has earned the confidence and dedication of its clients through its reputation as a best-in-class service provider and is well-positioned for future growth," said Newport Group Chief Executive Officer Greg Tschider. Newport Group CEO Greg Tschider said in a statement, "Our independence, coupled with our experience and responsiveness, is what our brand stands for. Greg Tschider is based out of San Francisco Bay Area and works at Newport Group as CEO. Pensions are not only paid for by private employers. Ken Weida Senior Vice President Sales Ken Weida serves as the Senior Vice President Sales of Newport Group. " PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. 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. 1601 River Drive, Suite 200 Moline, IL, 61265 Get Directions Newport Moline, IL Reviews 5.0 Current Employee, less than 1 year "Great atmosphere and People!" Mar 14, 2017 - Compliance Secialit in Moline, IL Recommends With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. The Newport Group, DailyAccess, and Verisight rebrand as one retirement, insurance and consulting services provider: Newport. But employers that lose contact with participants who maintain a balance in the companys retirement plan risk breaching their fiduciary duties and jeopardizing the tax-qualified status of their plan. As a provider and partner, Newport is independent, experienced and responsive. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Kevin Patrick Senior Vice President Operations & Participant Services 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. Website. Securities in California are offered through Newport Securities Insurance Services. The recent ruling by the circuit judge on the burden of proof is deeply concerning and highlights Subject, of course, to the preservation of capital rule. " This transaction is a strategic fit for our. 1985. 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. This site is designed for U.S. residents only. About NewportHeadquartered in Walnut Creek, California, Newport is a leading retirement services provider that helps employersand the advisors who serve themprepare employees for a more financially secure retirement. Expanded tax-advantaged savings participant base of more than 15 million people across the U.S. Increase of Ascensus-administered assets under administration to more than $700 billion when combined with Newports business, Diversified client base, including more than 150,000 retirement plans, Management of an industry-leading $184 billion in government savings accounts (including 529 plans, ABLE savings accounts, and state-facilitated retirement programs), more than 700,000 health and flexible savings and COBRA accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 non-qualified retirement plan participant accounts, Broader set of products and solutions delivering enhanced value to new and existing clients, Increased investment in technology and digital solutions designed to enhance partner efficiency and drive saver outcomes, Experienced leadership teams with outstanding track records across both organizations, Continued commitment to service excellence andclient satisfaction offers opportunity to build on world-class NPS scores toset a new performance standard in markets served, Increased size and reach of sales and distribution channel relationships supporting partner growth, Depth and breadth of our combined expertise, including retirement, compliance, actuarial, non-qualified, insurance, and fiduciary services, represents a significant value-add for our clients, Newand expanded career pathopportunities for Ascensus and Newport associates resulting from the combination of two great companies focused on long-term growth, Increased ability to attract, retain, and develop top talent, Continued commitment to a diverse and inclusive work environment where every associate feels welcome, valued, and safe, and enjoys a sense of belonging, A common heritage of integrity and independence, coupled with the resourcefulness and speed of a market innovator. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Following a two-day planned meeting where the organization discussed its priorities for the year, the committee has named a new Alerus names new senior retirement specialist; WTW appoints global head of credit, manager research; and NFP acquires AFS Advisors. 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.. Were redirecting you to the most relevant section of NewportGroup.com. 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. Please update your bookmarks accordingly. 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.
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