Lincoln Trust Acquires Benefit Solutions Corp.

Share Article

Open architecture 401(k) provider continues buying spree as it builds out national footprint; More acquisitions planned.

“The environment is rapidly changing for retirement plan advisors at broker dealers. Lincoln Trust is perfectly positioned for this sea change in the industry, and I am confident we can capture a significant portion of this market.”

Lincoln Trust Company, a leading provider of open architecture 401(k) and profit sharing solutions, today announced that it has acquired Benefit Solutions Corp., a leading 401(k) recordkeeper and third party administrator headquartered in Greenfield, WI.

The Benefit Solutions purchase is the third by Lincoln Trust in nine months and reflects the firm’s desire to continue rapid market growth through acquisitions. The acquisition strategy has allowed Lincoln to leapfrog competitors and establish a presence in key markets through the purchase of high quality firms.

“We are pleased to have Benefit Solutions join the Lincoln Trust family,” said Lincoln Trust Chairman and CEO Bob Beriault. “They have created a unique managed solution serving the independent investment advisor representative and broker dealer community and one we intend to invest in to expand further.”

New Markets, New Opportunities
Benefit Solutions provides an array of retirement plan services, including recordkeeping, third-party administration, compliance testing, and plan design. With a focus on 401(k) solutions built around third party money managers designed for investment advisor representatives and broker dealers, the firm brings a new market opportunity to Lincoln Trust.

“By combining independent money management with distribution through the broker dealer market we bring a substantial new opportunity for Lincoln Trust,” says Deyan Stojanovich, founder of Benefit Solutions. New fee disclosure rules, which require disclosure of direct and indirect compensation that service-providers receive, are pushing brokers away from the traditional fee-laden plans offered by insurance companies and other platforms and as a result have the reps looking for an open architecture solution.

“The environment is rapidly changing for retirement plan advisors at broker dealers,” said Stojanovich, who will lead institutional sales at Lincoln Trust. “Lincoln Trust is perfectly positioned for this sea change in the industry, and I am confident we can capture a significant portion of this market.”

Now that the Benefit Solutions acquisition is completed, Lincoln Trust services more than 2,700 qualified plans and well over $3.7 billion in assets under administration.

Lincoln Trust purchased Fringe Benefit Administrators, LTD, a retirement plan administrator in Metairie, LA., in late 2011 and added Independent Pension Consultants, Ltd. of Eden Prairie, MN in May, 2012. Earlier this year, the firm sold its self-directed IRA division to PENSCO Trust Company to prepare itself for future expansion in the defined contribution marketplace.

A strong industry advocate for full fee disclosure, Lincoln Trust introduced the Personalized Expense Ratio (PER), one of the retirement industry’s first all-in 401(k) plan cost calculations. Lincoln Trust’s PER goes beyond Department of Labor revisions that are going into effect this summer and fall.

About Lincoln Trust Company
Located in Denver, CO, and a member of the Council of Independent 401(k) Plan Recordkeepers, Lincoln Trust provides trust, custodial, recordkeeping and administration services to defined contribution plans. By providing access to 24,000 mutual funds and 900+ETFs without any proprietary product requirements and by using revenue sharing payments to offset plan expenses, Lincoln Trust offers low cost 401k plan solutions. For more information, visit http://www.LincolnTrustCo.com or call 1-855-719-5796

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Morrison Shafroth
Visit website