Strategic Insight, which describes itself as “the data and business intelligence provider for the global asset management community,” has acquired BrightScope.
The former was not so long ago called Asset International, the company that owned publishing assets PLANSPONSOR and PLANADVISER, which went on to acquire mutual fund research and technology firm Strategic Insight in 2009, and has now embraced the name of its former subsidiary. This acquisition follows the recent acquisition of Market Metrics and Matrix Solutions – data and research firms for advisor-sold investments and insurance worldwide – and adds sales and distribution data for retirement to Strategic Insight’s portfolio. Asset International was acquired by private equity firm Genstar Capital in June 2014.
As for BrightScope, it’s come a long way since it was founded in San Diego in 2008 by Mike and Ryan Alfred. They started by rating defined contribution plans, moved to focusing on advisors,connected with the Labor Department, and have more recently been producing reports with the Investment Company Institute (ICI).
What this means for the retirement plan industry – and advisors generally – remains to be seen.
