American Trust Retirement, a subsidiary of EdgeCo Holdings, has acquired independent employee benefits consulting firm Stanley Benefit Services based in Greensboro, NC.
Specializing in retirement plan administration, the acquisition expands American Trust Retirement’s expertise in the mid-market space, adds an in-house actuarial team, and supports a broader offering in the defined benefit and cash balance plan market.
“While consolidation continues across the retirement industry, we prioritize partnering with companies that share our philosophy of delivering quality service and trusted advice,” said Micah DiSalvo, Chief Revenue Officer at American Trust Retirement. “The Stanley Benefits team embodies this, and their deep expertise will further enhance our value proposition.”
According to the announcement, RIA firm Fund Direct Advisors, which shares similar ownership with Stanley Benefits, will not be part of the acquisition and will remain independent under the continued leadership of Wes Stanley and Chris Stanley. The remaining team members of Stanley Benefits, including Senior Vice President Bill Stanley and Vice President Chris Francis, will become employees of American Trust Retirement.
“We have proactively sought to align with groups who can elevate our offering, benefit from our tremendous investment in technology and provide expanded resources for our clients,” said John Moody, Chief Executive Officer of EdgeCo Holdings. “The Stanley Benefits deal allows us to expand further into the mid-size plan market and sharpen our defined benefit offerings, providing even more specialized services to support our financial intermediary partners.”
Stanley Benefits will be rebranded to Stanley Benefit Services, A Division of American Trust Retirement, eventually transitioning to the American Trust name.
American Trust Retirement also recently acquired Unified Trust Company, a national provider of retirement plan solutions and fiduciary services.
