Deals & People September 28, 2015

Two Private Equity Firms Will Acquire Ascensus

Genstar Capital and Aquiline Capital Partners agree to acquire Ascensus Inc.
Reported by

Genstar Capital, a San Francisco-based middle-market private equity firm—which, among other companies, is an owner of Asset International, Inc.—and Aquiline Capital Partners, a New York-based private equity firm investing in financial services, have entered into a definitive agreement to acquire Ascensus, Inc. from J.C. Flowers & Co. The transaction is expected to close in the fourth quarter, following regulatory approvals and other customary closing conditions.

Ascensus is an independent service provider of retirement and college savings plans, offering a suite of defined contribution (DC) and defined benefit (DB) retirement solutions, including benefits education, 529 college plan recordkeeping and administration for more than 17 states, as well as individual retirement account (IRA) and health savings account (HSA) administration.

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Ascensus  President and CEO Bob Guillocheau says, “Genstar and Aquiline’s commitment to Ascensus will strengthen our capabilities and services, allowing us to maintain our long-term focuses on serving our clients’ needs and remaining a top workplace for our associates.”

Roberta Hess, vice president of marketing and communications for Ascensus, adds that “from the perspective of plan sponsors, financial advisers and consultants, it will be business as usual for us at Ascensus. Since the company has been owned by a private equity firm, and will be acquired by another private equity firm, it will not impact our day-to-day business.”

She continues: “We’re excited about how Genstar Capital and Aquiline Capital Partners will be able to help us further focus on servicing our clients’ needs.”

Ascensus Inc. manages retirement assets of $57 billion and $69 billion in college saving plans.

Deals & People September 28, 2015

Pensionmark Onboards Rogers Financial Group

Pensionmark Financial Group welcomes Rogers Financial as its newest adviser affiliate.
Reported by

Pensionmark Financial Group has added another office to its Advisor Support Program (ASP).

Rogers Financial joined Pensionmark after more than two decades in the retirement specialist advisory industry. The recent affiliation becomes Pensionmark’s first office in Washington, D.C.

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Kenneth Rogers, who takes on the new role of managing principal of Rogers Financial Pensionmark, says partnering with Pensionmark “will provide employees of our plan sponsor clients with access to a robust financial wellness offering and further enhance the depth of resources we provide to plan fiduciaries.”

The partnership provides Rogers Financial with an expanded suite of services, including Pensionmark’s proprietary financial wellness program, investment analytic tools and proposal systems. Along with the expanded services, Rogers Financial will maintain its independent business model.

“We are excited about the partnership and further growth within the Pensionmark family,” says Troy Hammond, president and CEO of Pensionmark Financial Group, located in Santa Barbara, California.

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