Ascensus has entered into an agreement to acquire employee benefits consulting firm Nyhart.
Nyhart, which will become part of the FuturePlan by Ascensus line of business immediately, is an employee benefits consulting firm that provides retirement (defined contribution, defined benefit, and actuarial) and health care actuarial services, along with consumer-directed health and benefit continuation administration.
According to a press release, Indianapolis-headquartered Nyhart serves more than 2,400 clients in all 50 states from nine locations. With client assets that exceed $20 billion, the firm describes itself as specializing in bringing a consultative approach to large, complex plans. Nyhart’s client base includes states, cities and municipalities; professional services firms; public sector entities; health care systems; religious organizations; and higher education institutions. The firm employs nearly 100 actuaries, employee benefit consultants and administrators.
Along with its retirement and health care solutions, the firm also offers Votaire, a proprietary health and financial wellness platform it says 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.”
FuturePlan by Ascensus is the nation’s largest retirement TPA, serving more than 46,000 retirement plan sponsors in more than 40 locations across the country as of Sept. 30, 2019.
