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. The Newport Group expands service offerings to non-qualified plans, BOLI/ COLI, and fiduciary consulting. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. EVP, Client Services at Newport Group. 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. Were redirecting you to the most relevant section of NewportGroup.com. 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. General FAQ 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. 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. "PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. Acquired Clark Consulting's operations, making us a leading provider of bank-owned life insurance (BOLI). Printer Friendly View Address: 35 Iron Point Cir Ste 300 Folsom, CA, 95630-8589 United States . Greg Tschider - Ceo - Newport Group - email id & phone of top management contacts like Founder, CEO, CFO, CMO, CTO, Marketing or HR or Finance head. 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 maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. General FAQ Contacts. 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. In addition, the companies both invest in technology and offer digital capabilities and analytics. 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. web design and development by new target, inc. Newport Group acquires the Vested Interest defined contribution plan recordkeeping business of PNC Bank. 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. Search Contacts. 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. Youll learn how you can enhance your hiring and retention strategies. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 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. 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. View Greg Tschider's profile on LinkedIn, the world's largest professional community. Please update your bookmarks accordingly. 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. "People Matter. (November 3, 2020) - Newport Group, Inc. (Newport) announced today that it has completed the purchase of Plan Administrators, Inc. (PAi), a third party administrator and recordkeeper headquartered in De Pere, Wisconsin. Learn more about Newports vital 3(16) administrative fiduciary services, which are provided at no cost to clients. 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. Website. We look forward to working with Laura Ramanis and her leadership team to unify our organizations in the months ahead and are eager to be operating as one team by next spring., Strategically Compelling CombinationMarket Strengths. Large. 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. Multiple locations. The availability of tax advantages or other benefits may be contingent on meeting other requirements. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Industry. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Employees 1.0-5.0K Agree? Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. 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. Greg Tschider has stepped down as CEO of Newport. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. To ensure continuity of leadership, operations, and client service through closing, Laura Ramanis who has served as Newport's chief operating officer since 2014has been named interim CEO. General FAQ Reveal contact info Contact details Work email g*****@newpor***.com Valid Reveal Latest update September 27, 2021 Location San Francisco Bay Area Greg's current employer Export Newport Group Website newportgroup.com Industry Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Rebranded as Verisight, a unified, fully integrated company offering a wide array of retirement services. On average, Martha works for one company for 9 years 9 months. 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. 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 . Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. About AscensusAscensus helps millions of people save for what mattersretirement, education, and healthcare. Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Participant Login FAQ 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. Key Principal: Greg W Tschider See more contacts Industry: Pension and retirement plan consultants. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. With . Please update your bookmarks accordingly. 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. Youll learn how you can enhance your hiring and retention strategies. With Newports business, Ascensus will also see an expanded tax-advantaged savings participant base, which will now reach more than 15 million people across the United States. Most people dont plan to stay in touch with their former employer after they change jobs or retire. This site is designed for U.S. residents only. 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. THE NEWPORT GROUP, INC. is an Arkansas Foreign For-Profit Corporation filed on June 3, 2008. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. 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. Ratings from the Employees at Newport Group's Headquarters 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). Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. . Most people dont plan to stay in touch with their former employer after they change jobs or retire. 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. Newport Group achieves a major milestone: providing service to more than one million retirement and benefit plan participants. 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. Ascensus gobbles up Newport. He previously served as president of Wilmington Trust Retirement and Institutional Services Company (a member of the Wilmington Trust Company family; NYSE: WL) and its predecessor company, AST Capital Trust Company of Delaware. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 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. In this role, he leads the company's qualified retirement client service teams. Greg Tschider serves as the CEO / President of Newport Group. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. 1601 River Drive, Suite 200 Moline, IL, 61265 Get Directions Newport Moline, IL Reviews 5.0 Current Employee, less than 1 year "Great atmosphere and People!" Mar 14, 2017 - Compliance Secialit in Moline, IL Recommends Following a two-day planned meeting where the organization discussed its priorities for the year, the committee has named a new Alerus names new senior retirement specialist; WTW appoints global head of credit, manager research; and NFP acquires AFS Advisors. Pension Specialists acquires NextStep Defined Contribution, Inc. Pension Specialists, Inc. is founded in California. On average, Wendy Cantey works for one company for 2 years 5 months. " This transaction is a strategic fit for our. 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 company has more than $150 billion in retirement assets under administration and more than $300 billion in corporate retirement and insurance assets. This site is designed for U.S. residents only. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Knowledge Center 644 followers 500 . The Newport Group, DailyAccess, and Verisight rebrand as one retirement, insurance and consulting services provider: Newport. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Because we remain independent, Newport Group has no incentive to market specific investment products to a client, and . 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). Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Enroll in Your Plan, For account questions or help logging in, According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. 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. 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. Chief Financial Officer. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. 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. Newport Group was founded in 1985 and its current CEO is Greg Tschider. Since its inception 38 years ago, Newport Group has grown to 1200 employees. As a provider and partner, Newport is independent, experienced and responsive. Greg holds a Juris Doctor from the University of Wisconsin Law School and a Bachelors of Business Administration degree in actuarial sciences and risk management from the University of Wisconsin Madison. Upromise is a registered service mark. The materials contained herein are intended for instruction only and are not a substitute for professional advice. Investing Companies. With Newports business, Ascensus will see an expanded tax-advantaged savings participant base, including more than 140,000 nonqualified retirement plan participant accounts. The American Society of Pension Professionals & Actuaries is a non-profit professional society. $50M to $100M. CEO of Newport Group San Francisco Bay Area. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. 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. Kieran Brady. 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. No Reproduction Without Prior Authorizations. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Were here to provide trusted guidance during this period of uncertainty. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee 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. View Andre Mintz. Chief Compliance Officer. The Registered Agent on file for this company is Corporation Service Company Which Will Do Business IN California As Csc - Lawyers Incorporating Serv and is located at 2710 Gateway Oaks Dr Ste 150n, Sacramento, CA 95833. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Company - Private. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. 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. Greg has extensive experience in the retirement services industry. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. "This transaction is a strategic fit for our company. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 1 email found 3 phone numbers found . Participant Login FAQ Most people dont plan to stay in touch with their former employer after they change jobs or retire. Kevin Patrick Senior Vice President Operations & Participant Services 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. The company's filing status is listed as Active and its File Number is 3307407. January 9, 2019 Uncategorized. Integrity Always." is a registered trademark used under license by Ascensus, LLC.