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Press Releases by Date   |   Press Releases by Company Name


View More Press Releases by Blue Ridge ESOP Associates

Press Release

Blue Ridge Acquires Coastal Pension Services, Inc.

Issued by Blue Ridge ESOP Associates

Apr. 21, 2021

CHARLOTTESVILLE, VA -  Blue Ridge ESOP Associates (“Blue Ridge”) is pleased to announce it has acquired Coastal Pension Services, Inc. (“Coastal Pension”), of Columbia, MD. The acquisition allows Blue Ridge to continue as the leader in ESOP administration while expanding its qualified retirement plan administration. In addition to our ESOP business, this will expand the administration of 401(k), Profit Sharing, Money Purchase and Defined Benefit plans to more than 1,000 qualified retirement plans. As we continue our leadership in the ESOP industry, the addition of Coastal Pension accelerates Blue Ridge’s efforts to grow through strategic acquisitions in the ESOP and 401(k) markets.

We are happy to announce that Coastal Pension will continue their existing service model, which includes designated individuals for each client. This high touch, high quality service model has been provided to their Plan Sponsors since 1989. The experienced staff of administrators and support personnel from Coastal Pension share the same high touch personal service philosophy Blue Ridge has offered its clients since 1988. Blue Ridge and Coastal Pension will continue to work closely with the client’s Financial Advisor and will not sell investments nor compete with our referral sources.

Pam Walker, President of Coastal Pension, said, “We are very excited to become part of the Blue Ridge team. We have built a successful company by offering close personal service to loyal clients and I know Blue Ridge shares this same vision. Blue Ridge has been a resource for us on many ESOP plans in the past and we have been fortunate to share mutual clients over the years. I will continue to be very involved with the company serving on the Blue Ridge management team, maintaining a strong relationship with our many loyal clients and advisers and seeking new clients who can benefit from our combined services. I am happy that Blue Ridge has welcomed all of our employees and that our name will remain the same.”

Tom Roback, President of Blue Ridge, added, “I have admired Pam and Coastal Pension since we met 14 years ago and look forward to continuing their legacy and providing their clients with more resources. We are excited to welcome their entire team of experienced professionals to join our team at Blue Ridge. This acquisition aligns with our strategy to expand our 401(k)/ESOP administration reach and recordkeeping flexibility.”

View More Press Releases by Blue Ridge ESOP Associates


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