Ascensus

Dresher, PA—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—announced the results of the Newport/PLANSPONSOR Executive Benefits survey report and have found that employers are increasingly turning to nonqualified retirement plans to attract and retain key talent and senior leaders. The report can be downloaded here.

Chris Brock and Nick Eschenheimer to Bring Expert Support to Financial Advisors and Their Clients

New Brand Positioning Promotes Financial Stability through Sponsorships and Digital Marketing Campaigns

Current Head of Sales Kasey Price Named President of FuturePlan, Effective August 1, 2022

Dresher, PA—July 13, 2022—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare— announced today that Kasey Price will assume the role of President of FuturePlan by Ascensus on Aug. 1, 2022.

Adds Veteran Industry Executive Scott Parry and Launches Platform to Improve Employer Experience

Dresher, PA—July 12, 2022—Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—recently completed two major steps to continue revolutionizing its state-facilitated retirement program business.

Ascensus won Retirement Leader of the Year at the With Intelligence Mutual Fund & ETF Awards. The Annual Mutual Fund & ETF Awards recognize the funds, fund leaders, providers, marketers, trustees, and independent counsel who stood out for their successes, achievements, and contributions in 2022.

Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—introduced a new brand visual identity for the company. 

Martha Slitt and David Johnson to Focus on Expanding Savings Solutions and Business Growth

Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—announced the appointments of Martha Slitt as Senior Vice President of Government Savings Business Development and David “DJ” Johnson as Head of Product for Government Savings. They will report directly to Peg Creonte, President of Ascensus Government Savings.

Slitt will focus on driving and supporting growth in the Government Savings business—collaborating with new partners, identifying and leading initiatives for growth within existing Ascensus plans, and managing the launch of new relationships with states, 529 program managers, and distribution partners.

Prior to joining Ascensus, Slitt held several executive roles at Fidelity Investments, most recently as head of the Global Asset Allocation Product group, which included the 529 and ABLE businesses. She also previously served as an equity investment director within the institutional asset management business. Prior to Fidelity, Stitt was a product manager supporting the fixed income and tax efficient equity businesses at Standish, Ayer & Wood, Inc. Martha earned her B.A. from Tufts University and is a CFA Charterholder.

In his new role, Johnson will establish the overall strategy and roadmap for the organization’s product offerings in the 529 and ABLE business lines. This includes defining target markets and overseeing all aspects of product life cycles, including conceptualization, specification, launch, adoption, and performance. In addition, he will work closely with line of business marketing to implement innovative strategies that support plan growth and participant savings success.

Johnson brings more than 20 years of experience in strategic product development and management, solution consulting, business development, enterprise-level project leadership, and talent management. He most recently served as head of Commercial & Data Solutions and senior vice president of Product with Fidelity Information Services, Inc. He previously held several leadership roles with then-SunTrust Banks, Inc. Johnson earned his M.B.A. from Emory University and a Bachelor of Science from the University of Florida.

“We’re delighted to welcome Martha and DJ to our leadership team and look forward to benefiting from their deep experience and judgment,” said Creonte. “It's a clear sign of our market leadership and bright future that such strong talent is coming aboard at a pivotal time in our growth trajectory.”

About Ascensus

Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is a leading recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com.

Leading Provider of Tax-Advantaged Savings and Related Services Will Serve More Than 15 million Savers with Expanded Technology, Solutions, and Expertise

Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—and Newport, the Walnut Creek, California-based retirement services provider—announced today that the two companies have closed their previously announced merger, the first step in their journey together as a combined organization.

The union combines the capabilities and talents of two market leaders in tax-advantaged savings and related services, serving more than 15 million savers and overseeing more than $745 billion in assets under administration as of December 31, 2021. Together, the unified company employs more than 5,400 employees across the U.S.

David Musto, president and chief executive officer of Ascensus, will serve as CEO of the combined company. Laura Ramanis, who has served as interim CEO of Newport since the announcement of the transaction last fall, and Kurt Laning, executive vice president of Newport Non-Qualified and Insurance Solutions, will join the Ascensus executive leadership team, reporting to Musto.

“With today’s announcement, Ascensus and Newport have taken an important step in our journey towards a stronger, unified company,” said Musto. “Clients across our lines of business will benefit from our expanded capabilities—accelerated investments in technology, data analytics, and user experiences—and broadened expertise. And both Ascensus and Newport associates can look forward to new opportunities for personal growth and enhanced career development.”

“Ascensus and Newport share a passion for helping people save for their futures and supporting the growth and success of our partners,” said Ramanis. “We look forward to continuing that mission as a combined company.”

With industry-leading qualified and non-qualified retirement plan services, corporate and bank-owned life insurance (COLI and BOLI) practices, fiduciary and trust solutions, and other total rewards capabilities, Newport expands the services and expertise Ascensus provides to its clients and advisor partners. Newport’s clients will benefit from greater access to unique tax-advantaged savings solutions across retirement, education, and health provided by Ascensus. The combined company’s investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create even better outcomes for savers.

Both the Ascensus and Newport brands remain in use at closing, with the Ascensus brand representing the unified company.

“Our goal over the next several months is the successful unification of our company—built on the principle of ‘best of the best’ and our shared cultural attributes, and executed with the interests, quality, and stability of our client relationships foremost in mind,” added Musto. “As a unified organization, Ascensus and Newport share a strong commitment to serving our clients and offering more—across the tax-advantaged retirement, education, and health savings expertise for which Ascensus is known, and capitalizing on Newport’s well-established qualified and non-qualified retirement services, and fiduciary and COLI/BOLI capabilities as well.”

Evercore acted as exclusive financial advisor to Newport in connection with the transaction.

Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC led the financing consortium.

Simpson Thacher & Bartlett LLP acted as transactional counsel to Ascensus and Kirkland & Ellis LLP acted as financing counsel to Ascensus. Morgan Lewis & Bockius LLP acted as legal counsel to Newport.

About Ascensus

Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is a leading recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com.

About Newport

Headquartered in Walnut Creek, California, Newport is a leading retirement services provider that helps employers—and the advisors who serve them—prepare employees for a more financially secure retirement. The company has more than $150 billion in retirement assets under administration and more than $300 billion in corporate retirement and insurance assets. Newport maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. Staffed by an exceptional team of nearly 1,500 retirement, insurance, and consulting professionals, the company provides retirement solutions tailored to the needs of employers of every size, from small businesses to the Fortune 1000. Visit newportgroup.com.

Experienced Sales Leader Will Focus on Financial Advisors and their Clients in Georgia

Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—announced the appointment of Michael Farber as a regional vice president on the company’s retirement plan sales team.

Farber will cover the state of Georgia, focusing on building and maintaining long-term relationships with financial advisors, third-party administrators, and financial institutions seeking to grow their business in the state.

He will report to Lori Zeman, retirement sales division vice president for the western region.

Farber brings more than a decade of sales and relationship management experience to his new role. Prior to joining Ascensus, he served as vice president of retirement sales at TRG-Touchstone Retirement Group in Atlanta, where he worked in collaboration with investment managers and financial advisors to support business development and product creation. Previously, Farber was managing director of emerging markets for MassMutual Workplace Solutions, retirement services district manager with ADP Retirement Services, and a retirement plan sales associate with John Hancock Retirement Plan Services. He began his professional career as a financial specialist with PNC Bank/Investments after earning his Bachelor of Business Administration degree in Finance from Ohio University. He holds his FINRA Series 7 and Series 63 designations and is an Accredited Retirement Plan Consultant (ARPC).

“Michael is an accomplished leader with the experience and expertise needed to help advisors and TPAs fuel the growth of their practices,” said Zeman. “We’re confident that Michael’s talent will help bolster our retirement plan sales team and reinforce our commitment to providing excellent service to financial advisor and employer partners.”

About Ascensus

Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is a leading recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com.