PDR provides Form 5500 retirement plan data and information services to individual financial advisers and financial institutions. The acquisition expands Summit’s position as a provider of data-driven prospecting, plan analysis and strategic planning tools for dedicated retirement professionals, the firm says.
The combined product portfolio, which includes Summit’s Retirement Plan Prospector and PDR’s ERISA Red Book Online, can provide solutions across many facets of the qualified retirement planning market. Advisers and their firms will be able to leverage advanced prospecting and sales tools, as well as client training and competitive analysis services. The collective resources of the two organizations will provide a full complement of information services, the firm says, with multiple products and price points to meet the needs of customers ranging from individual advisers to large-scale financial services enterprises.
“The team at Pension Data Resources has built a very robust product set with great functionality and a long-standing history of enterprise services,” explains Jeff Patterson, leader of Summit’s Insurance and Benefits Networks and head of the firm’s retirement data business. “In addition to aggressively expanding our strength in the large enterprise segment of our business, this acquisition will enable us to bring expanded services to our individual customers as well.”
As part of the acquisition, Sam Sarcone, PDR’s founder and owner/principal, will join Summit Professional Networks as president of the newly created PensionPlanet division of Judy Diamond Associates—a subsidiary of Summit Professional Networks.
More information is available at www.summitprofessionalnetworks.com.