DST Systems has agreed to acquire Wealth Management Systems, a New York-based employee benefit and technology services company, for $64m.
WMSI offers rollover and advisor solutions, along with financial planning and education tools and communications.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Clients of WMSI range from large to small businesses in the financial services and employee benefit arenas.
On completion of the deal, WMSI and its employees will become part of the DST Retirement Solutions business unit.
DST Retirement Solutions president Jude Metcalfe "This acquisition of an established leader in the rollover business places us squarely at that point of intersection. I think DST is uniquely positioned now to help asset managers and broker-dealers grow and retain assets in the retirement space."
The deal is expected to close by 2015 end.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
