Newport Acquires Executive Benefit Firm’s Admin Unit

Executive benefit plan providers The Newport Group and The Todd Organization on Wednesday announced a deal under which Newport will acquire Todd’s administrative services unit, Todd Consulting, Inc. (TCI).

Newport will supply the administrative services formerly provided to Todd clients by TCI while approximately 50 TCI employees primarily located in Greensboro, North Carolina; Richmond, Virginia; and St. Louis Missouri will become Newport employees.

Todd will continue to offer its lineup of services through a network of more than 50 executive benefits consultants in 14 states and 20 cities.

The deal required the approval of Todd stockholders and was finalized on Wednesday.

The Todd Organization helps clients with the design, financing, and administration of non-qualified retirement plans and other executive benefits.