ExpertPlan Purchases ADP's Retirement Services TPA Program Business in Kansas
Leading retirement plan recordkeepers ExpertPlan and ADP Retirement Services ("ADP"), today announced that ExpertPlan acquired portions of ADP's retirement plan recordkeeping business that services clients who also engage independent third party administrators (TPAs).
East Windsor, NJ and Roseland, NJ (Vocus/PRWEB ) June 19, 2009 -- Leading retirement plan recordkeepers ExpertPlan and ADP Retirement Services ("ADP"), today announced that ExpertPlan acquired portions of ADP's retirement plan recordkeeping business that services clients who also engage independent third party administrators (TPAs).
Expert Plan will maintain the former ADP Retirement Services' Overland Park, Kansas service center, which focuses on plan administration services designed for small- to mid-size plans serviced by TPAs, a business sector of particular strength for ExpertPlan. In addition to ExpertPlan's national network of over 100 private label and affiliate TPAs, the business purchased from ADP includes plans that are also serviced by a premier group of TPAs nationwide.
The acquisition, ExpertPlan's third in just 14 months, expands the firm's capabilities and geographic presence and continues to position the firm as a trusted retirement services provider and partner of TPAs, investment managers, and advisors. In addition, the acquisition furthers the company's commitment to expanding its product base offerings in defined contribution, while maintaining its disciplined focus on providing high quality recordkeeping and support services in the small- to mid-size retirement plan market.
"By acquiring this business from ADP, ExpertPlan will significantly expand its geographic representation, resources, and capabilities to deliver world class product and service offerings to its existing and future client base," noted Julian Onorato, CEO and chairman of the board of ExpertPlan.
ADP will continue to draw upon its robust technology and rich capabilities to provide world-class recordkeeping and retirement services for companies of any size. "ADP's commitment to client service is shared by ExpertPlan and we are both focused on ensuring a smooth transition for these clients," said Doug Politi, General Manager and Senior DVP of ADP Retirement Services. "ADP will continue to participate in other retirement plan markets by delivering programs that maximize value through seamless payroll and plan integration, and exceptional service to the plan sponsor and financial advisor community. We have been providing retirement solutions for over 20 years and look forward to servicing retirement plans in the future."
About ExpertPlan:
ExpertPlan Inc., headquartered outside of Princeton, NJ, is the premier provider of private-labeled recordkeeping solutions to asset management firms, TPAs, RIAs, broker dealers, insurance companies, CPAs, payroll companies and banks that serve 401(k) and other defined contribution plans. The firm's scalable recordkeeping solution can be customized to fully integrate with a client's business and distribution models.
About ADP:
Automatic Data Processing, Inc. (Nasdaq: ADP), with nearly $9 billion in revenues and over 585,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging nearly 60 years of experience, ADP offers the widest range of HR, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to organizations of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1-800-225-5237 or visit the company's Web site at www.adp.com.
Contacts:
John Farmakis
ExpertPlan
609-918-2536
jfarmakis (at) expertplan (dot) com
Sandra Marquardt
On the Mark Public Relations for ExpertPlan
301-592-0077
smarquardt (at) onthemarkpr (dot) com
Terry Corallo
ADP
(973) 974-7612
terrym_corallo (at) adp (dot) com
Zach Siegel
Cohn & Wolfe for ADP
(212) 537-8102
zach.siegel (at) cohnwolfe (dot) com
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