As I always said, change in the retirement plan business was going to spur consolidation especially after fee disclosures were implemented in 2012. Ascensus has taken advantage of this change by making many purchases. They recently purchased Kravitz and now have bought Benefits of Missouri.
Benefits of Missouri had over 800 defined contribution clients and with their unbundled approach, probably fit Ascensus’ targets. It allows Ascensus grow their footprint nationally as they are growing farther away from their Philadelphia area base.