With qualified and nonqualified retirement plan services, fiduciary consulting services and corporate- and bank-owned life insurance (COLI and BOLI) practices, Newport will expand the solutions and expertise Ascensus provides to its clients and adviser partners. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Greg Tschider CEO Approval Rating 83/100 Weigh In 1985 Walnut Creek California San Francisco Bay Area Private Merged with Ascensus, LLC Professional Services Payroll & Benefit Support Services 8744 NAICS listing http://www.newportgroup.com Est. Newport Group achieves a major milestone: providing service to more than one million retirement and benefit plan participants. 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. . "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. 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. On average, Martha works for one company for 9 years 9 months. Company - Private. Newport Group's CEO, Greg Tschider, has a CEO approval rating of 80/100, as scored by 8 Newport Group employees, placing Greg Tschider in the Top 10% of similarly-sized companies for CEO score. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Director, Executive Finance, Legal, Operations. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. Laura Ramanis Chief Operating Officer Laura Ramanis serves as the Chief Operating Officer of Newport Group. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 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. Will His AI Plans Be Any Different? Privacy PolicyTerms of UseCopyright. Learn how to leverage transparent company data at scale. 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. 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. It takes less than ten minutes to set up your company page. EVP, Client Services at Newport Group. Most people dont plan to stay in touch with their former employer after they change jobs or retire. As a provider and partner, Newport is independent, experienced and responsive. Youll learn how you can enhance your hiring and retention strategies. 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. By using our website, interacting with us on social media, or communicating with us via email or other electronic messages (Digital Presence), you consent to the collection, use, and storage of your personal and non personal information as described by our Terms & Conditions of Use, which includes our Privacy & Security Statement. Annual Revenue $25-100M Agree? Terms of the transaction were not disclosed. Size. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. 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. The company's filing status is listed as In Existence and its File Number is 0802356195. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. "PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. 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. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Ascensus has entered into a definitive agreement for Newport Group, a Walnut Creek, California-based retirement services provider, to merge with Ascensus. Newport Group was founded in 1985 and its current CEO is Greg Tschider. 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. 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). 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. https . 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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. 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.. Newport welcomed several expert panelists, who provided insight on retirement plan liability and fiduciary issues associated with actions taken during this current environment. Participant Login FAQ Participant Login FAQ Est. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. 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. 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. The firms hope to be operating as one team by next spring.. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. Depending on your interaction with Ascensus, other privacy policies may apply in addition to this Policy. Large. 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. Non-Qualified Plans and the Coronavirus Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. 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. Company Description We are a leading provider of retirement plans, insurance, and consulting services. Greg Tschider and the Newport Group leadership team are scored a B- by 9 employees placing it in the Top 40% of companies sized 1,001-5,000 Employees on Comparably. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus. 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. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. . Since then Greg has changed 4 companies and 2 roles. NEWPORT GROUP, INC. is a California Stock Corporation - Out Of State - Stock filed on May 14, 2010. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Jacqueline Ward. Greg Tschider has stepped down as CEO of Newport. DailyAccess expands service offerings to health and welfare and investment advisory services. CEO. 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. call the Participant Service Center at844-749-9981. About. For more information, visitascensus.com. web design and development by new target, inc. 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. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. Eric . call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. " PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. Rebranded as Verisight, a unified, fully integrated company offering a wide array of retirement services. Free and open company data on Texas (US) company Newport Group, Inc. (company number 0802356195), 1350 TREAT BLVD, STE 300, Walnut Creek, CA, 94597. 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? Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company.