ExpertPlan Acquires Trust Service Company, Inc. (TSCI)
ExpertPlan, a leading provider of private-label recordkeeping solutions for retirement plans, has acquired TSCI, formerly Trust Service Company, Inc., based in Pennsylvania. TSCI, an application development company, is best known for its recordkeeping, trust accounting, Application Service Provider (ASP)-hosted client solutions, and other vital software products in the retirement marketplace.
(PRWEB) April 29, 2008 -- ExpertPlan, a leading provider of private-label recordkeeping solutions for retirement plans today announced the acquisition of TSCI, formerly Trust Service Company, Inc., based in Pennsylvania. TSCI, an application development company, is best known for its recordkeeping, trust accounting, Application Service Provider (ASP)-hosted client solutions, and other vital software products in the retirement marketplace.
TSCI built its company products utilizing IBM Java-hosted solutions on AS400 technology very similar to that which is used by ExpertPlan. Currently, the firm boasts 44 client relationships which include banks, private employer retirement plans, third party administrators, and associations. In addition, TSCI also maintains strategic alliances working through financial advisors and certified public accountants.
"The addition of TSCI's consulting and software development capabilities, as well as the company's existing relationships, will significantly scale-up ExpertPlan's growth," stated Julian Onorato, ExpertPlan chairman and CEO. "TSCI's overall product development expertise will enable ExpertPlan to take a stronger leadership position by offering an even more robust ASP environment," he continued
Joe Whittle, TSCI president and CEO stated, "This acquisition offers our clients continuity and the benefits of a larger, more scalable organization." Added Susan Whittle, TSCI vice president of sales, "ExpertPlan provides us with an amazing opportunity to broaden our firm's product presence in today's competitive and demanding retirement landscape."
Financial terms of the deal were not disclosed. TSCI will be held as a wholly-owned subsidiary and employees will relocate to ExpertPlan's headquarters in East Windsor, NJ.
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.
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