Alerus Scoops Up Stanton Group’s RK and Adviser Services

Alerus Financial will acquire the recordkeeping and advisory operations of the Stanton Group, a Minneapolis-based benefits, compensation and insurance services firm.

The changes linked to the acquisition will be effective on August 31 for the recordkeeping deal and September 30 for Alerus’ purchase of Stanton Investment Advisors, according to a press release.

The partnership between Alerus and Stanton began in October 2006 when Stanton Trust Company joined Alerus.

“We feel this transition will better meet the needs of our clients, allowing them access to all retirement-related services under one roof,” said Jeff Nevin, Stanton Group’s CEO, in the press release. “It will also allow Stanton Group to re-focus its energy on its core businesses, including employee benefits, compensation and survey consulting, property & casualty services, and actuarial consulting,’ he continued.

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