Press Release

Ascensus Acquires Health & Welfare Form 5500 Preparation and Plan Document Services Business from ABV Advisors

Issued by Ascensus

Mar. 18, 2021

Book-of-Business Transaction Boosts Ascensus' Compliance Expertise While Increasing Client Base for Health & Welfare Form 5500 Solutions

DRESHER, Pa., March 18, 2021 -- Ascensus — whose technology and expertise help millions of people save for retirement, education, and healthcare — is pleased to announce that it has acquired the book of business of ABV Advisors, a health & welfare Form 5500 preparation and plan document services business. Financial terms of the deal were not disclosed.

Based in Carmel, Indiana, ABV Advisors is a benefit compliance advisory firm that serves brokers of employee benefit plans, financial advisors, professional employer organizations, and affinity associations throughout the U.S. Its primary specialty is ERISA-related compliance for employee benefit plans, including wrap plan documents, preparation of DOL Form 5500, and Affordable Care Act required Forms 1094-C & 1095-C.

ABV Advisors' business will further expand the ERISA compliance, plan documentation, filing, and related services that have been among Ascensus' core offerings for many years across its Retirement, FuturePlan by Ascensus, and Health & Benefits lines of business. In 2019, Ascensus acquired Wrangle, the country's market leader in providing health & welfare Form 5500 preparation and related ERISA compliance services. Prior to that, Ascensus significantly expanded its health benefit administration offerings, providing consumer-directed healthcare and benefit continuation services via the acquisitions of Chard Snyder, Benefit Planning Consultants, Inc., and HR Simplified. 

"The team at ABV Advisors truly understands the importance of an employee benefit plan to a company and its employees, as well as the complexities of maintaining that plan," says Kevin Cox, president of Ascensus' Retirement line of business. "Ascensus looks forward to being a trusted partner and resource for ABV Advisors' brokers, advisors, and plan sponsors via our deep industry expertise, outstanding client service, and proven technology platform." 

"At ABV Advisors, our highly consultative, client-centric approach has allowed us to build trusting, long-lasting relationships with our clients, including large, nationally recognized employee benefits consulting, insurance brokerage, and accounting firms," notes Anne Vandeveer, ABV Advisors' president. "We know these clients will receive the same high-touch interactions from Ascensus and look forward to sharing our decades of knowledge and experience in continuing to service these clients."

"ABV Advisors has worked diligently over the years to cultivate an extremely loyal client base as well as a strong reputation for excellence," says Raghav Nandagopal, Ascensus' chief corporate development officer. "Adding their business allows us to continue to build upon that reputation under the Ascensus brand while expanding our health & welfare Form 5500 and ERISA-related compliance capabilities."

"We're excited to integrate ABV Advisors' compliance expertise and build solid, long-term relationships with their network of employee benefit brokers, advisors, and plan sponsors," Nandagopal adds. 

About Ascensus
Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com.

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