Pavilion Financial, an employee-owned investment services firm, has acquired Plan Sponsor Advisors (PSA), a consulting firm specializing in defined contribution plans.
The acquisition of PSA would be an addition to Pavilion that offers institutional investment consulting through Pavilion Advisory Group and following the closure of the deal, operations of PSA will be merged with Pavilion Advisory Group.
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PSA managing partners Jennifer Flodin and Don Stone said a strong motivation for them to join Pavilion was the fact that Pavilion brings clients the capabilities and resources of the large firms plus the client service focus of the small boutiques.
However, PSA would continue to operate with its name on a co-branded basis with Pavilion over the near term with plans to assume the Pavilion Advisory Group name in the future, the company said
Pavilion Advisory Group managing director Keith Mote said, "PSA has an excellent reputation bringing the analytical rigor of the DB world to DC plans to improve participant decision making, remove obstacles to participant engagement and maximize outcomes."
With nearly US$22 billion in retirement plan assets, PSA offers fiduciary and non-fiduciary consulting services to publicly traded and privately held companies including global corporations, major healthcare systems and family-owned businesses.
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By GlobalDataThe acquisition is expected to close by 20 June 2014.
