As its third acquisition of 2021, The Retirement Advantage, Inc. (TRA) announced that it has successfully completed the acquisition of John T. Toomey Associates, Inc. of Hingham, MA.
“I am thrilled to announce the transaction and our continued expansion into the New England area,” Matt Schoneman, President and Owner of TRA, said in a statement. “The acquisition of John T. Toomey Associates, Inc. strengthens our position as a leading provider of innovative retirement planning solutions across the country. Their team has successfully developed a highly regarded third-party administration business, proven by their historical growth and ability to consistently meet their client’s expectations.”
“We are extremely excited to officially become part of TRA. We believe that pairing our team’s in-depth knowledge of our local markets and communities with the more robust capabilities of TRA will enhance our administrative capacity and provide additional valuable service capabilities,” adds Jack Toomey, President and Owner of John T. Toomey Associates.
Founded in 1985, John T. Toomey Associates serves all types of businesses with a concentration of clients in the medical, dental, legal, accounting and investment advisor sectors as well as with construction and real estate firms.
TRA currently serves more than 10,000 plan sponsors with more than $10 billion in retirement assets under administration.
Terms of the deal were not disclosed.
Earlier this year, TRA had announced the acquisition of Rosenfeld/Tortu Retirement Planning Co. of Elmsford, NY, and R. Bruce Tanner & Associates of Sugar Hill, GA.
