Ascensus has agreed to acquire Indianapolis-based Nyhart, an employee benefits consulting firm. No financial terms were disclosed. Ascensus is a recordkeeping services provider, third-party administrator and government savings facilitator.
Dresher, PA—November 25, 2019—Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire Nyhart, an employee benefits consulting firm that provides retirement (defined contribution, defined benefit, and actuarial) and healthcare actuarial services along with consumer-directed health and benefit continuation administration. Nyhart will immediately become part of the FuturePlan by Ascensus line of business.
Headquartered in Indianapolis, Indiana, Nyhart serves more than 2,400 clients in all 50 states from 9 strategically placed locations. With client assets that exceed $20 billion, the firm specializes in bringing a consultative approach to large, complex plans and is home to a talented employee population that features nearly 100 actuaries, employee benefit consultants, and administrators. Nyhart works with a diverse client base that includes states, cities, and municipalities; professional services firms; public sector entities; healthcare systems; religious organizations; and higher education institutions. Along with its retirement and healthcare solutions, the firm also offers Votaire, a proprietary health and financial wellness platform that allows employers to provide employees with the tools to help them develop a plan for reaching their financial goals.
“Nyhart’s unique strengths complement our already broad service offerings at FuturePlan and immediately increase our capacity to serve larger, more complex plans,” states Jerry Bramlett, head of FuturePlan. “We’re pleased to welcome Lisa Hague and her management team along with Nyhart’s exceptional group of associates—their skills and expertise will further strengthen our competitive edge in the retirement and benefits industry.”
“At Nyhart, we consistently look to hire and invest in high-quality people in order to provide the best possible service throughout our lines of business,” says Lisa Hague, Nyhart’s chief executive officer. “As part of FuturePlan, we can access the resources of a larger organization to the benefit of our clients while still providing them with the personalized experience and creative solutions that they’ve come to expect from us.”
“Nyhart has an outstanding track record of success, client focus, and service quality over multiple decades,” notes Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “It is a highly reputable and well-run company positioned for growth through the cultivation of strong industry relationships and the delivery of differentiated solutions to a diverse client base.”
“With this acquisition, we significantly expand our retirement and healthcare offerings on a national level while leveraging Nyhart’s healthcare actuarial solutions as a new service to our distribution partners and current and prospective clients,” concludes Nandagopal.
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.
About FuturePlan by Ascensus
FuturePlan by Ascensus is the nation’s largest retirement third-party administrator, combining high-touch local service with the strength and security of an industry leader. A line of business within Ascensus, FuturePlan’s dedicated team serves more than 46,000 retirement plan sponsors in more than 40 locations across the country as of September 30, 2019. For more information, visit futureplan.com.