Investment firm Pavilion Financial Corp. has acquired Plan Sponsors Advisors. No financial terms were disclosed for the transaction, which is expected to be completed on or around June 20. Based in Chicago and Indianapolis, PSA is an investment and retirement benefit consulting firm.
WINNIPEG and CHICAGO, June 12, 2014 /PRNewswire/ – Pavilion Financial Corporation, an employee-owned, diversified global investment services firm, today announced the acquisition of the business of Plan Sponsor Advisors (PSA), an investment and retirement benefit consulting firm specializing in defined contribution plans. The transaction is expected to close on or around June 20th.
Founded in 2002 and with offices in Chicago and Indianapolis, PSA provides fiduciary and non-fiduciary consulting services to publicly traded and privately held companies including global corporations, major healthcare systems and family-owned businesses. Over 90% of its revenue is derived from defined contribution plan sponsors. Co-founders Jennifer Flodin and Don Stone have in excess of 50 years’ industry experience. PSA leverages a proprietary R21 Process that uses behavioral finance to help defined contribution plan sponsors re-engineer their retirement plans, define success and measure progress. It also leverages proprietary software, TDAnalyzerTM, which uses participant demographics to determine target date suitability in light of projected outcomes. PSA advises on over $22 billion in retirement plan assets.
“We’re very pleased to add PSA’s unique expertise in retirement benefit consulting to DC plans to the array of solutions Pavilion offers to its institutional clients across North America,” said Martin Weinberg, CEO & Chairman of Pavilion Financial Corporation. “The addition of PSA is another step forward in our strategy to build a self-sustaining, employee-owned investment services firm by recruiting best-in-class talent and introducing innovative and customized services and solutions to clients.”
Pavilion offers institutional investment consulting through Pavilion Advisory Group, whose consultants provide tailored advice, strategies and solutions for institutional clients in every aspect of the investing process. Its U.S. institutional advisory business has been catering to clients since 1982. At the closing of the transaction, the operations of PSA will be merged with Pavilion Advisory Group Inc. PSA will maintain its name on a co-branded basis with Pavilion over the near term with plans to assume the Pavilion Advisory Group name in the future.
Jennifer Flodin and Don Stone, Managing Partners of PSA, said a strong motivation for them to join Pavilion was the fact that Pavilion brings clients the best of both worlds — the capabilities and resources of the large firms plus the client service focus of the small boutiques. “We have spent considerable time with the Pavilion team and feel very good about the cultural fit of our organizations and ways in which we can mutually benefit each other’s clients. For some time now, we have wanted to further enhance our investment expertise and expand our reach in the market. With Pavilion, we will be able to do this.”
Keith Mote, Managing Director of Pavilion Advisory Group, said he is excited by the addition of the PSA team and its skill set. “More and more organizations with defined benefit plans are moving to defined contribution plans where risks, like financial market risk, are borne by employees. PSA has an excellent reputation bringing the analytical rigor of the DB world to DC plans to improve participant decision making, remove obstacles to participant engagement and maximize outcomes.”
Today’s announcement comes on the heels of Pavilion’s news release of May 29, 2014 announcing the planned acquisition of LP Capital Advisors, a Sacramento-based investment consulting firm with expertise in alternative asset classes, particularly private equity.
About Pavilion Financial Corporation
Pavilion Financial Corporation is an employee-owned, global financial services firm offering innovative services and solutions to institutional and other investors in select geographical markets. Pavilion offers a comprehensive suite of integrated services such as investment consulting, implemented consulting, transition management, securities trading, research and wealth management. For further information, visit our website at www.pavilioncorp.com.
About Pavilion Advisory Group
Pavilion Advisory Group provides tailored advice, strategies and solutions for clients in every aspect of the investing process. With offices in Chicago, Montreal and Winnipeg, Pavilion Advisory Group offers advisory services and implemented or discretionary solutions to corporate and public plan sponsors (DB and DC), not-for-profit healthcare systems, higher education endowments, and private and public foundations. Its institutional client base collectively manages over $400 billion in assets. Additionally, through a network of Private Wealth Counsellors across Canada, Pavilion Investment House, a division of Pavilion Advisory Group Ltd. provides comprehensive and customized wealth management solutions to high-net-worth individuals and family offices. Pavilion Advisory Group is a trademark of Pavilion Financial Corporation, used under license by Pavilion Advisory Group Inc. in the U.S. and Pavilion Advisory Group Ltd. in Canada. For more information, visit www.pavilioncorp.com/advisory-services.
About Plan Sponsor Advisors
Plan Sponsor Advisors (PSA) was founded in 2002 and services it clients from offices in Chicago and Indianapolis. PSA provides fiduciary and non-fiduciary consulting services to publicly traded and privately held companies including global corporations, major healthcare systems and family-owned businesses. PSA leverages a proprietary R21 Process that uses behavioral finance to help defined contribution plan sponsors re-engineer their retirement plans, define success and measure progress. It also leverages proprietary software, TDAnalyzerTM, which uses participant demographics to determine target date suitability in light of projected outcomes. PSA advises on over $22 billion in retirement plan assets and is routinely engaged to perform project-based services including vendor searches, fee benchmarking, operational reviews and plan design analysis. PSA is a founding member of the Defined Contribution Institutional Investment Association and is an active, ongoing committee participant. For more information, visit www.psaretire.com.