The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Advisors and plan sponsor clients who have specific questions related to The CARES Act or how coronavirus is impacting benefit plans can contact us at [email protected]. $50M to $100M. Together with its affiliate, Verisight, Inc., the firm has approximately 1,000 associates across the nation, more than 9,500 plans with over 975,000 plan participants, and services more than $120. Participant Login FAQ Newport Group was founded in 1985 and its current CEO is Greg Tschider. Ascensus has entered into a definitive agreement for Newport Group, a Walnut Creek, California-based retirement services provider, to merge with Ascensus. Acquired Clark Consulting's operations, making us a leading provider of bank-owned life insurance (BOLI). 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. Ascensus and Newport Group to Combine and Create a Leading Provider in We may amend this policy from time to time; if we do, we will post those changes on this page within a reasonable time after the change so that you are aware of what information we collect and how we intend to use it. But employers that lose contact with participants who maintain a balance in the companys retirement plan risk breaching their fiduciary duties and jeopardizing the tax-qualified status of their plan. / Newport Group, Inc. Newport Group, Inc. Website. Most providers of our size are attached to a larger financial institution. Terms of the deal were not disclosed.PNC Bank is one of the largest and most-respected brands in the banking industry, says Greg Tschider, CEO of Newport Group. Newport Group Headquarters | Comparably When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. Integrity Always." is a registered trademark used under license by Ascensus, LLC. Newport Group's Competitors, Revenue, Number of Employees - Owler Newport welcomed several expert panelists, who provided insight on retirement plan liability and fiduciary issues associated with actions taken during this current environment. Greg Tschider has stepped down as CEO of Newport. Expand thetax-advantaged savings participant base of more than 15 million people across the country, Increase Ascensus-administered assets under administration to more than $700 billion when combined with Newports business, Provide management to $184 billion in government savings accounts (including 529 plans, ABLE savings accounts, and state-facilitated retirement programs), more than 700,000 health and flexible savings and COBRA accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 non-qualified retirement plan participant accounts, Why the New ESG Rule And Why Now? Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus. Newport Group, Inc. :: Texas (US) :: OpenCorporates About Us | Retirement, Insurance, Consulting | Newport Please update your bookmarks accordingly. Upromise is a registered service mark. Newport helps companies offer their associates a more secure financial future through retirement plans, insurance and consulting services. Greg Tschider, Verisight Inc: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance: Early Edition Bloomberg Surveillance: Early Edition with Francine. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. Greg Tschider 98 Ratings 5.0 Current Employee, more than 8 years "Great place to grow your career" Dec 6, 2022 - Vice President Recommends Positive Outlook Approves of CEO Pros Career growth is encouraged and supported Cons None that I am aware of. Terms of the deal were not disclosed. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Were redirecting you to the most relevant section of NewportGroup.com. To ensure continuity of leadership, operations, and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer since 2014has been named interim CEO. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. The American Society of Pension Professionals & Actuaries is a non-profit professional society. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Most people dont plan to stay in touch with their former employer after they change jobs or retire. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. With so much news and real time information readily at hand, it can be difficult for anyone to process what is relevant and critical for making prudent financial decisions. Newport Group Enters into Definitive Agreement to Purchase PNC Bank's Wendy Cantey's email & phone number - Senior Vice President of Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence and purpose-built technology, Musto says. Join the conversation on Finance 3m a Commercial Customer Service Representative What's the best way to have a lack of compensation and incentive conversation in your department? NEWPORT GROUP, INC. :: California (US) :: OpenCorporates The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm.. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. The recent ruling by the circuit judge on the burden of proof is deeply concerning and highlights Subject, of course, to the preservation of capital rule. To ensure continuity of leadership, operations, and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer since 2014has been named interim CEO. "This transaction is a strategic fit for our company . Newport maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. Greg Tschider - CEO at Newport Group | The Org Youll learn how you can enhance your hiring and retention strategies. Key Principal: Greg W Tschider See more contacts Industry: Pension and retirement plan consultants. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Search Contacts. Newport Group - Contacts, Employees, Board Members, Advisors & Alumni Martha has been working as a Assistant Vice President, Relationship Management for Newport Group for 1977 days. This transaction is a strategic fit for our company. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Managing Challenges for Non-Qualified Plans Related to Coronavirus, Plan Sponsor Liability and Fiduciary Responsibilities in Light of COVID-19, Navigating the New Normal: Anticipating Plan Compliance Challenges in the Age of Coronavirus, Helping Plan Participants in the New Normal, How the CARES Act Impacts Retirement Plans, Newports Perspective on Market Volatility, Newports vital 3(16) administrative fiduciary services, An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI). Chief Financial Officer. Newports Perspective on Market Volatility Greg Tschider serves as the CEO / President of Newport Group. Newport Group Will Merge With Ascensus | PLANADVISER Successful organizations have evaluated the competitiveness of their compensation programs, retirement plans, and employee benefits portfolio to effectively compete for and retain the talent that drives success. Please update your bookmarks accordingly. According to ZoomInfo records, Greg Tschider's professional experience began in 2003. Greg Tschider has stepped down as CEO of Walnut Creek, California-based Newport, and Laura Ramanis, its chief operating officer, will serve as interim CEO until the close of the transaction, the . Were here to provide trusted guidance during this period of uncertainty. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newports chief operating officer since 2014has been named interim CEO. Greg Tschider has stepped down as CEO of Newport. David Musto, president and chief executive officer (CEO) of Ascensus, will serve as CEO of the combined company. This site is designed for U.S. residents only. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Greg has extensive experience in the retirement services industry. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. The materials contained herein are intended for instruction only and are not a substitute for professional advice. Newport Reviews: What Is It Like to Work At Newport? | Glassdoor . retirement plan provider mergers and acquisitions, House Votes to Overturn Rule Allowing ESG Investing in Retirement Plans, SS&C Hires Nelson From Tata Consultancy as Retirement Business COO, Senate Follows House in Rejecting DOL ESG Rule, End Of The Road For Defined Benefit Plans? David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. Greg Tschider has stepped down as CEO of Newport. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Free and open company data on Texas (US) company Newport Group, Inc. (company number 0802356195), 1350 TREAT BLVD, STE 300, Walnut Creek, CA, 94597. Were redirecting you to the most relevant section of NewportGroup.com. Youll learn how you can enhance your hiring and retention strategies. Ascensus will also have more than 700,000 health and flexible savings and COBRA [Consolidated Omnibus Budget Reconciliation Act] accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 nonqualified retirement plan participant accounts. Newport Group achieves a major milestone: providing service to more than one million retirement and benefit plan participants. Scott Pollack. "This transaction is a strategic fit for our company. Type. Before investing in any 529 plan, please consider whether your or the beneficiarys home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that states 529 plan. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Securities in California are offered through Newport Securities Insurance Services. Ascensus, Newport Group merge - InvestmentNews Newport Group, Inc. Company Profile | Folsom, CA | Competitors "This transaction is a strategic fit for our company. Greg Tschider. COPYRIGHT 2023BY ASPPA. Successful organizations have evaluated the competitiveness of their compensation programs, retirement plans, and employee benefits portfolio to effectively compete for and retain the talent that drives success. With industry-leading qualified and non-qualified retirement plan services, fiduciary consulting services, and corporate and bank-owned life insurance practices, Newport will expand the solutions and expertise Ascensus provides to its clients and advisor partners. The CARES Act Effect on Retirement Plans: Employees 1.0-5.0K Agree? In addition, the companies both invest in technology and offer digital capabilities and analytics. Annual Revenue $25-100M Agree? About. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. . Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. This site is designed for U.S. residents only. Enroll in Your Plan, For account questions or help logging in, Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Participant Login FAQ After the acquisition, Greg Tschider, CEO of Verisight, will be chief executive of the qualified retirement plan services business, and Newport CEO Peter Cahall, will be chief executive of the . General FAQ Since then Greg has changed 4 companies and 2 roles. New Shoes with Newport Group - Shoes That Fit Plan Sponsor Liability and Fiduciary Responsibilities in Light of COVID-19 Moreover, the firms say that the companies respective investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create better outcomes for savers., Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence, and purpose-built technology, said Musto. The availability of tax advantages or other benefits may be contingent on meeting other requirements. As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. EVP, Client Services at Newport Group. Were redirecting you to the most relevant section of NewportGroup.com. DRESHER, Pa., Nov. 3, 2023 /PRNewswire/ Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a definitive agreement under which Newport Group (Newport), the Walnut Creek, California-based retirement services provider, will merge with Ascensus.The newly combined organization will offer a broader . Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. To ensure continuity of leadership, operations, and client service through closing, Laura. Retirement plan participants can call Newports Participant Service Center at 844-749-9981, Monday through Friday, 8 a.m. to 8 p.m. Newport Trust Company formed, offering our clients non-discretionary, directed trustee and custodial services. NEWPORT GROUP, INC. is a California Stock Corporation - Out Of State - Stock filed on May 14, 2010. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Greg Tschider 98 Ratings Your trust is our top concern, so companies can't alter or remove reviews. Pension Specialists acquires NextStep Defined Contribution, Inc. Pension Specialists, Inc. is founded in California. THE NEWPORT GROUP, INC. is an Arkansas Foreign For-Profit Corporation filed on June 3, 2008. Greg Tschider Chief Executive Officer, Newport Informative Webinars Managing Challenges for Non-Qualified Plans Related to Coronavirus This webinar provided insight on the unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. "People Matter. Peers. We answer some of the most common questions non-qualified plan sponsors may be receiving in light of the novel coronavirus. Revenue. Scott Pollack is Executive Vice President at Newport. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. Expanded tax-advantaged savings participant base of more than 15 million people across the U.S. Increase of Ascensus-administered assets under administration to more than $700 billion when combined with Newports business*, Diversified client base, including more than 150,000 retirement plans, Management of an industry-leading $184 billion in government savings accounts (including 529 plans, ABLE savings accounts, and state-facilitated retirement programs), more than 700,000 health and flexible savings and COBRA accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 non-qualified retirement plan participant accounts*, Broader set of products and solutions delivering enhanced value to new and existing clients, Increased investment in technology and digital solutions designed to enhance partner efficiency and drive saver outcomes, Experienced leadership teams with outstanding track records across both organizations, Continued commitment to service excellence and client satisfaction offers opportunity to build on world-class NPS scores to set a new performance standard in markets served, Increased size and reach of sales and distribution channel relationships supporting partner growth, Depth and breadth of our combined expertise, including retirement, compliance, actuarial, non-qualified, insurance, and fiduciary services, represents a significant value-add for our clients, New and expanded career path opportunities for Ascensus and Newport associates resulting from the combination of two great companies focused on long-term growth, Increased ability to attract, retain, and develop top talent, Continued commitment to a diverse and inclusive work environment where every associate feels welcome, valued, and safe, and enjoys a sense of belonging, A common heritage of integrity and independence, coupled with the resourcefulness and speed of a market innovator. As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. During his tenure, AST grew into one of the leading independent trust companies in the country. BILLION IN RETIREMENT ASSETS UNDER ADMINISTRATION, BILLION IN CORPORATE RETIREMENT + INSURANCE ASSETS. Ascensus gobbles up Newport | Ary Rosenbaum - The Rosenbaum Law Firm P Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. About NewportHeadquartered in Walnut Creek, California, Newport is a leading retirement services provider that helps employersand the advisors who serve themprepare employees for a more financially secure retirement. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Eric . Newport Group Launches as a Unified Brand | PLANSPONSOR For more information about Newport Group Consulting and its services, Newport Group Securities, Inc. or Newport Securities Insurance Services and services offered, please refer to our Form ADV Part 2, which is available by contacting us at 407-333-2905, visit our website at www.newportgroup.com, or advisorinfo.sec.gov. Newport by the numbers Over 45% OF THE FORTUNE 500 AS CLIENTS $169+ BILLION IN RETIREMENT ASSETS UNDER ADMINISTRATION 39,000+ PLANS $330+ Funding $0 Acquisitions 2 News Latest News Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. Newport Acquires and Welcomes Plan Administrators, Inc. (PAi) Newport Group Picks Up Recordkeeping Business of PNC Bank CEO. According to a press release, the newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. Scott Pollack - EVP, Client Services at Newport Group | The Org Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. The Registered Agent on file for this company is Corporation Service Company D/B/A Csc-Lawyers Incorporationg Service Company and is located at 211 E. 7th Street, Suite 620, Austin, TX 78701-3218. We expect the service platform investment, product expansion and enhanced capabilities our union will deliver to be well-received by our collective clients. NEWPORT GROUP, INC. in Austin, TX | Company Info & Reviews But employers that lose contact with participants who maintain a balance in the companys retirement plan risk breaching their fiduciary duties and jeopardizing the tax-qualified status of their plan. Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a definitive agreement under which Newport Group (Newport), the Walnut Creek, California-based retirement services provider, will merge with Ascensus. Greg Tschider | ZoomInfo Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. 1 email found 3 phone numbers found . The Newport Group, DailyAccess, and Verisight rebrand as one retirement, insurance and consulting services provider: Newport. The transaction is expected to close in the first quarter of 2022, subject to receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking and review and approval by the New Hampshire Banking Department, and satisfaction of other customary closing conditions. Newport Group acquires Kidder Benefits Consultants, and its affiliate Kidder-Lane Actuarial Services. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company.
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