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Vanguard's 401(k) recordkeeper, Ascensus, gets set to roll up a world of third party administrators to create a small plan superpower

With recent Great-West poach and David Musto running the show the Dresher, Pa.-based TPA adds 14 firms in 16 months and sets sights on dozens more, as roll-up strategy takes flight

Author Oisin Breen April 27, 2018 at 5:46 PM
2 Comments
no description available
David Musto: It's completely realistic to think there could be a dozen or more acquisitions in any twelve month period.

TAMPs


Maureen Hayburn

Maureen Hayburn

May 11, 2018 — 3:32 PM
A
Patrick

Patrick

May 3, 2024 — 10:14 PM
Screw Vanguard. After years of investing they want to add new fees to lower my yield because my account is smaller right now. They went against what they said earlier of trying to maximize yield for the client. I moved the rest of my account to my fidelity account. I had fidelity lead time than Vanguard.

Related Moves

September 14, 2023 at 2:59 AM

After 401(k) account growth catapults ahead of curve, Vestwell CEO scrambles to make big hires and abdicates chairmanship to freed-up Lori Hardwick

Eying projected 300% plan sponsor growth, Aaron Schumm has promoted one executive, added another and reshuffled Vestwell's board, putting Hardwick on top.

October 14, 2021 at 8:58 PM

How Aaron Schumm got Goldman Sachs' brightest young star aboard; he jammed in a meeting for a friend and accepted an offer he couldn't refuse--$30 million

The Vestwell CEO gets Rana Yared, the 35 year-old Goldman partner, on his board as part of the $30-million round she made happen

July 2, 2019 at 11:20 PM

Orion names 'left-brained' Natalie Wolfsen as CEO to replace Eric Clarke, and AssetMark, which synchronized its announcement, hires Michael Kim as her replacement

Orion Chairman Charles Goldman again lures his protege to self-replace, while Michael Kim was 'integral to AssetMark’s record financial performance over the past several years'

September 8, 2023 at 11:58 PM


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