Ascensus to acquire three Vanguard retirement plans

Ascensus is acquiring three of Vanguard’s retirement plans, the firm announced Tuesday.

They are Vanguards’ individual 401(k), multiple participant SEP (Multi-SEP) and SIMPLE IRA plans. The transaction is expected to close in Q3. This deal does not include any of Vanguard’s other retirement solutions, including its corporate retirement plans.

‘The breadth and nuance of small business plan administration increasingly requires deep specialization, and we believe business owners and their employees will be best served by an organization with significant expertise and scale in serving Multi-SEP, SIMPLE IRA, and Individual 401(k) savers,’ said Armond Mosley, principal and head of Vanguard’s self-directed business. 

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