Ascensus sells for $3 billion after failing to draw buyers for one-third less in 2018, but faith and patience pay off with 50% premium on deal
Investors Genstar, Aquiline and Atlas sold Ascensus for a deal valued at $3 billion to rollup IPO-prep experts at Stone Point, according to reports.
Brian Murphy
Related Moves
RIA in a Box gunning for top-notch staff as it readies for Aquiline-fueled roll-up binge, targeting old-school, mom-and-pop compliance competitors
With Ascensus also in its portfolio, Aquiline is showing a penchant for taking dull, fragmented, unloved wealth-management niche businesses and rolling them up into sexier firms
November 29, 2018 at 11:54 PM
During CEO Tim Buckley's waning months, Vanguard is imposing fees that may affect older its investors, while hand-off to Ascensus of certain IRA and 401(k) products also comes with some sticker shock
The Malvern, Pa., giant transferred SEP IRA and 401(k) assets to its recordkeeper, which immediately imposed new fees, while Vanguard's new pricing schedule includes a commission to phone in Vanguard fund sales or purchases
May 2, 2024 at 1:27 AM
How $7B Professional Capital Services is trying to out-nimble, out-RIA $188B Ascensus but with Edmond Walters there to carry a big stick
The eMoney founder joined the Philly TPA's board to oversee a PCS that hires madly, rewrites software, RIA-izes its services and develops marketing punch
February 28, 2019 at 12:41 AM
Ascensus
Third Party Administrator
Top Executive: David Musto Chairman & CEO
