Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Retirement Plan Administrator

Bates & Company, Inc.
(Remote / Winter Park FL)

Bates & Company, Inc. logo

Business Development Director

AimPoint Pension
(Remote / Pompano Beach FL / AL / GA)

AimPoint Pension logo

Defined Benefit Combo Cash Balance Compliance Consultant

Loren D. Stark Company (LDSCO)
(Remote)

Loren D.  Stark Company (LDSCO) logo

Loan & Distribution Specialist

AimPoint Pension
(Remote)

AimPoint Pension logo

Director of 3(16) Operations

Compass
(Remote / NH / Hybrid)

Compass logo

Regional Vice President of Sales

The Retirement Plan Company
(Remote / AL / FL / GA / MS)

The Retirement Plan Company logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile app icon
LinkedIn icon     Twitter icon     Facebook icon

Press Releases by Date   |   Press Releases by Company Name


View More Press Releases by Ascensus

Press Release

Ascensus Announces Completion of Truist Retirement Recordkeeping Acquisition

Issued by Ascensus

Mar. 5, 2021

All Heritage BB&T Plans Successfully Transitioned to Ascensus Platform

Ascensus -- whose technology and expertise help millions of people save for retirement, education, and healthcare -- has completed the acquisition of the heritage BB&T bundled retirement recordkeeping business from Truist Bank that was announced on January 6, 2021. Financial terms of the deal, which closed on March 3, were not disclosed.

In total, this transaction covers more than 1,200 plans with approximately 140,000 participants and more than $6 billion in assets -- all of which have been successfully transitioned to Ascensus’ platform. With this addition, Ascensus currently serves approximately 115,000 retirement plans with 3.3 million participants and assets under administration of approximately $209 billion.

“Thanks to the Truist and Ascensus teams’ highly collaborative efforts, we were able to successfully migrate all of the heritage BB&T plans to Ascensus over the course of this past weekend,” said Kevin Cox, president of Ascensus’ Retirement line of business. “I’d like to express my gratitude to Truist for their partnership in supporting the transition of their clients and plans to our platform.”

“We’re pleased to welcome heritage BB&T clients to Ascensus and offer them access to our robust resources, including financial wellness programs, managed account services, and award-winning support,” continued Cox.

“With the ongoing consolidation in the retirement industry, Ascensus plans to pursue similar opportunities to work with organizations to provide an attractive home for their non-core retirement servicing businesses and clients,” stated Raghav Nandagopal, Ascensus’ chief corporate development officer.

View More Press Releases by Ascensus


Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.