FOR IMMEDIATE RELEASE
BCG
Pension Risk Consultants Acquires Penbridge Advisors
Braintree, MA and Stamford, CT,
March 13, 2018
BCG Pension Risk Consultants, Inc. (“BCG”), a leading
provider of pension consulting and pension risk transfer (“PRT”)
services, today announced it has acquired Penbridge Advisors, LLC
(“Penbridge”), a specialist pension information and advisory
services firm and thought leadership provider to the U.S.
retirement industry.
As a division of BCG, Penbridge
has been renamed BCG Penbridge and will continue to offer
proprietary data, business intelligence and advisory services to
defined benefit plan sponsors, helping them to meet their plan
sponsor and plan fiduciary objectives.
In commenting on the acquisition,
Mike Devlin, Founder and Principal of BCG, said, “Penbridge and
BCG are a great fit. This transaction brings together a leading
PRT information services and thought leadership provider with a
leader in pension consulting and PRT placement and administrative
support services.”
As a result of this acquisition,
Penbridge will bring the following under the newly formed BCG
Penbridge brand:
· The Penbridge PRT Database - used
by over 400 plan sponsors and advisory firms - for comprehensive
intelligence on insurance providers, insurance products; the
Penbridge PRT Index, as well as thought leadership white papers
and surveys
· Penbridge’s market leadership in
US defined benefit plan cost benchmarking data, covering all
major expense categories including Trust and Custody,
Administration, Actuarial, Investment Management, Investment
Advisory and PBGC Premiums
· Penbridge’s experience as an
independent expert assisting plan fiduciaries to satisfy their
“safest available annuity” selection responsibilities
Steve Keating, who founded
Penbridge and is now Managing Director of BCG, added, “BCG’s
acquisition of Penbridge brings together complementary expertise
and services with a singular focus to bring plan sponsors and
advisors actionable analysis for ongoing plan management,
de-risking and pension risk transfer.”
Both BCG and Penbridge have worked
in collaboration with law firms, consulting actuaries,
independent fiduciaries, investment consultants, asset managers
and financial advisors and have established working relationships
with all of the insurers that participate in the US PRT industry
and will continue to do so moving forward.
About BCG Pension Risk Consultants
Founded in 1983, BCG is one of the
nation’s premier pension risk consulting firms having advised on
over 2,000 defined benefit liability settlements and plan
terminations ranging from publicly-traded companies, to privately
held, healthcare, banks and not-for-profits. BCG’s mission is to
help plan sponsors navigate a complex and lengthy annuity
purchase and distribution process, while delivering to clients,
individual participants and other stakeholders the utmost professionalism,
courtesy and due diligence at all times. In 2018, BCG acquired
Penbridge Advisors, LLC to form BCG Penbridge, one of the
retirement industry’s leading resources for pension information
and advisory services. BCG has several offices across the nation
with a dedicated corporate office in Braintree, MA, and
operations offices in Austin, Boise, Cincinnati, Chicago and
Stamford. Please visit our websites at: www.bcgpension.com; www.bcgpenbridge.com.
BCG Media Contact Information:
Cathy
Loos, Loos & Co. Communications
Phone:
(347) 334-4135
Email: cloos@looscomm.com
