Press Release

October Three Consulting Acquires Retirement Learning Center

Issued by October Three, LLC

May 8, 2023

October Three Consulting LLC, a Chicago-based actuarial, consulting and technology firm specializing in a “modern defined benefit” offering, is set to acquire the Retirement Learning Center, the two firms announced Monday.

“We’ve always worked with advisers, but RLC’s advice offering is really focused on the adviser community and helping them grow their practices,” says Jeff Stevenson, October Three’s president and CEO. “We’re very good at the technology, and we’re very good at working with advisers on understanding plans and transparency with exiting plans. …. RLC is the natural extension of that work. It’s essentially a help desk where advisers can call in with questions and get support.”

October Three recently launched a product called O3 Prime, a hybrid retirement plan that consists of two accounts running side-by-side: a 401(k) plan funded by the employee and a cash balance pension plan funded by the employer.

Through this acquisition, October Three will maintain the Retirement Learning Center brand, and October Three Consulting will continue to focus on delivering actuarial consulting, design and administration of retirement plans, according to the announcement.

“We are delighted to be part of October Three,” said Andy Larson, a co-founder of RLC and its director of retirement education, in a statement. “Their passion for supporting the advisor community is consistent with our business purpose. Combined with their commitment to technology and innovation we see incredible growth in our product offering and the support we can provide to our customers.”

Founded by Larson and John Carl in 2003, Brainerd, Minnesota-based RLC offers ERISA and IRA consulting services to the financial services industry. Carl unexpectedly passed away in 2022.

“We have been a big admirer of John Carl and the entire RLC team for many years,” Stevenson said in a statement. “In acquiring RLC it is our intention to honor the legacy of John by investing in the wonderful business he created and continuing to serve the advisor community with excellence and passion.”

Stevenson says October Three will be working to present a new, integrated platform to advisers who use RLC in September. That integration will provide RLC with access to data from October Three’s thought leadership, a large database of existing plans, and retirement plan analytics, among other resources.

O3 Edge, an October Three prospecting solution, will also be integrated into RLC’s offering. O3 Edge will provide the firm’s clients with more resources, tools and 24/7 access to educational and prospecting materials, according to October Three.

“Our grander vision is to ensure that all Americans feel prepared to retire both financially and emotionally,” Stevenson says. “A lot of that comes through one-on-one contact with the adviser community, fulfilling our grander vision and getting us closer to that idealistic state.”

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