The Newport Group expands service offerings to non-qualified plans, BOLI/ COLI, and fiduciary consulting. 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. Depending on your interaction with Ascensus, other privacy policies may apply in addition to this Policy. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Insurance Company-Owned Life Insurance (ICOLI). Chief Compliance Officer. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Were redirecting you to the most relevant section of NewportGroup.com. Alerus adds senior retirement specialist; HSA Bank acquires HSA solutions provider; Innocap to acquire BNY Mellons HedgeMark business; and more. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. Funding $0 Acquisitions 2 News Latest News EVP, Client Services at Newport Group. Privacy PolicyTerms of UseCopyright. The firms hope to be operating as one team by next spring.. Scott Pollack. call the Participant Service Center at844-749-9981, Managing Challenges for Non-Qualified Plans Related to Coronavirus According to LinkedIn Martha started working on 1998, then the employee has changed 3 companies and 3 jobs. WALNUT CREEK, CA, June 8, 2018 -- Newport Group, a leading provider of retirement plans, insurance, and consulting services, announced today that the company has reached an agreement with the private equity firm Kelso & Company (Kelso). The American Society of Pension Professionals & Actuaries is a non-profit professional society. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), 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). Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Investing Companies. In this role, he leads the company's qualified retirement client service teams. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. and the Ascensus logo are trademarks of Ascensus, LLC. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. 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. 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. 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. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus. Exclusive Hauser Clip, Retiree Health Care Cost Estimates Still Induce Sticker Shock, 401(k)s Increasingly Under Attack in Wake of SECURE 2.0 Passage, Record Increases Forecast for 2023 Contribution and Benefit Limits, Record Increases Projected for 2023 Retirement Plan Limits, Limits on Wealthy Retirement Accounts Not in Inflation Reduction Act, A Fresh Look at Those the WEP Affects, Proposals to Change it, Retirement Savers Withstand 2022 Rollercoaster as Balances Rebound, Good News in PBGC Pension Insurance Data Tables. The Registered Agent on file for this company is CT Corporation and is located at 124 W Capitol Ave Ste 1400 124 W Capitol Ave Ste 1400, Little Rock, AR 72201. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Free and open company data on Texas (US) company Newport Group, Inc. (company number 0802356195), 1350 TREAT BLVD, STE 300, Walnut Creek, CA, 94597. COPYRIGHT 2023BY ASPPA. Please update your bookmarks accordingly. EVP, Client 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. Joining with Ascensus provides additional resources to continue the expansion of services, and I am excited to see the new ways that our combined associate teams will work together for our clients.. Greg Tschider has stepped down as CEO of Newport. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Greg Tschider is the Chief Executive Officer at Newport Group. "This transaction is a strategic fit for our company. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Laura Ramanis Chief Operating Officer Laura Ramanis serves as the Chief Operating Officer of Newport Group. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. Musk Made a Mess at Twitter. 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, who led Newport's successful growth strategy, has stepped down as CEO of Newport. You can read Newports comprehensive analysis of this important legislation here. 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. On average, Wendy Cantey works for one company for 2 years 5 months. https . 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. Company Type FOREIGN STOCK Jurisdiction California (US) Branch Branch of VERISIGHT, INC. (Delaware (US)) Registered Address 1350 TREAT BOULEVARD SUITE 300 WALNUT CREEK CA 94567 United States Agent Name CORPORATION SERVICE COMPANY WHICH WILL DO BUSINESS IN CALIFORNIA AS CSC - LAWYERS INCORPORATING SERVICE Agent Address Search Contacts. Were redirecting you to the most relevant section of NewportGroup.com. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Securities in California are offered through Newport Securities Insurance Services. Securities in California are offered through Newport Securities Insurance Services. 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. 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 coronavirusquestions@newportgroup.com. Wendy Cantey has been working as a Senior Vice President of Strategic Initiatives and the Enterprise Project Management Office, Technol for Newport Group for 1034 . As one company, well deliver so much more than the sum of our capabilitiesand set a new performance standard for service excellence and client satisfaction in the markets we serve. Newport Group acquires the retirement recordkeeping, administrative, and actuarial services business of People's United Bank. Walnut Creek, CAMay 6, 2019 Newport Group, a leading independent retirement services provider, announced today that it has completed its acquisition of the Vested Interest defined contribution plan recordkeeping business of PNC Bank. 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. . The capital behind Verisight is Stone Point, a hedge fund in Greenwich, Conn. that bought out the Chicago family office a couple of years ago. 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. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. "Evercore's institutional trust and independent fiduciary business has earned the confidence and dedication of its clients through its reputation as a best-in-class service provider and is well-positioned for future growth," said Newport Group Chief Executive Officer Greg Tschider. Terms of the deal were not disclosed. Youll learn how you can enhance your hiring and retention strategies. Newport Group was founded in 1985 and its current CEO is Greg Tschider. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisers and retirement savers, the firm says. NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. For more information, visitascensus.com. Investment returns are not guaranteed, and you could lose money by investing in a 529 plan. 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. Navigating the New Normal: Anticipating Plan Compliance Challenges in the Age of Coronavirus. 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. Quality First. Under Greg's leadership, Newport has grown to a national full-service retirement provider servicing more than $265 billion of corporate retirement and insurance assets and 1.4 million plan participants. The materials contained herein are intended for instruction only and are not a substitute for professional advice. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. See All 306 Reviews Diversity & Inclusion at Newport 4.3 ( 64 Reviews) Director, Executive Finance, Legal, Operations. In addition, the companies both invest in technology and offer digital capabilities and analytics. 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. 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. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. Terms of the deal were not disclosed. The company's filing status is listed as Active and its File Number is 3307407. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Founded. Newport Group acquires the Vested Interest defined contribution plan recordkeeping business of PNC Bank. Revenue. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company. 1985. When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Ascensus gobbles up Newport. Greg Tschider serves as the CEO / President of Newport Group. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer (COO) 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. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. 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. Were redirecting you to the most relevant section of NewportGroup.com. 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 andclient satisfaction offers opportunity to build on world-class NPS scores toset 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, Newand expanded career pathopportunities 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.