Lincoln Trust Company, a leading provider of open architecture 401(k) and profit sharing solutions, today announced that it has acquired Independent Pension Consultants, Ltd. (IPC), a regional plan administration and consulting firm based in Eden Prairie, MN.
IPC specializes in providing plan design, daily administration and consulting. Lincoln Trust Chairman and CEO Bob Beriault said Lincoln Trust’s acquisition of IPC complements the firm’s existing business and expands its national footprint to include an established presence in the Upper Midwest market.
Lincoln Trust is continuing to look for acquisition opportunities to fuel growth. “We want to increase our national presence by acquiring high quality firms that fit our model of fee transparency,” said Mr. Beriault. “Where there is a cultural fit, we want to find a way to partner with retirement benefit firms and third party administrators serving the mid to small plan market.”
This is Lincoln Trust’s second acquisition of a retirement plan firm in less than eight months and validates the firm’s continued focus on providing businesses and retirement plan advisors with comprehensive plan administration, plan design and consulting services. Once the acquisition is completed, Lincoln Trust will service more than 2,300 qualified plans and well over $3 billion in assets under administration.
Last November, Lincoln Trust purchased Fringe Benefit Administrators, LTD, a retirement plan administrator in Metairie, LA. Earlier this year, the firm sold its self-directed IRA division to PENSCO Trust Company in order to prepare itself for future expansion in the defined contribution marketplace.
“With our singular focus on serving the small- to mid-retirement plan marketplace, we are pleased to expand our reach further with the addition of IPC,” said Beriault. “We share a commitment to providing customer service excellence, open architecture 401k plans and fee transparency to a segment of the marketplace that historically has been underserved.”
“We are excited to be part of a growing organization that shares our core business values,” said Dan McQuillen, Founder and President of IPC. “Lincoln Trust was a great partner throughout this process and we look forward to leveraging their sales and marketing expertise to expand our offerings and grow our presence in the region.”
A strong industry advocate for full fee disclosure, Lincoln Trust introduced the Personalized Expense Ratio (PER), one of the retirement industry’s first all-in 401(k) plan cost calculations. Lincoln Trust’s PER goes beyond Department of Labor revisions set to go into effect later this year.
About Lincoln Trust Company
Located in Denver, CO, and a member of the Council of Independent 401(k) Plan Recordkeepers, Lincoln Trust (lincolntrustco.com) provides trust, custodial, recordkeeping and administration services to defined contribution plans. By providing access to 24,000 mutual funds and 900+ETFs without any proprietary product requirements and by using all revenue sharing payments to offset plan expenses, Lincoln Trust offers low cost 401k plan solutions.