Newport Group Will Merge With Ascensus
The acquisition will expand the solutions and expertise Ascensus provides to its clients and adviser partners.
The acquisition will expand the solutions and expertise Ascensus provides to its clients and adviser partners.
With the acquisition, Franklin Templeton will preserve the autonomy of Legg Mason’s affiliates, ensuring that their investment philosophies, processes and brands remain unchanged.
Principal is not only acquiring additional capabilities and scale, but an experienced and highly professional team, said Renee Schaaf.
Upon closing of the transaction, Vested Interest, which has $17 billion of assets under administration, will operate as part of Newport Group and its employees will join Newport Group.