Blue Ridge Associates Acquires TSC 401(k) and Other Wealth Management News
Blue Ridge Associates, a portfolio company of Levine Leichtman Capital Partners, has recently acquired Tax Sheltered Corporation Inc. This acquisition marks a significant move in the retirement plan benefits industry, as Blue Ridge looks to expand its strategic objectives and capitalize on the growing qualified retirement plan market.
Established in 1966, Tax Sheltered Corporation Inc. provides administration and compliance solutions for all types of employer-sponsored qualified retirement plans, serving over 3,100 plans and 152,000 participants. With this acquisition, Blue Ridge strengthens its position as an independent ESOP and qualified retirement savings plan administration and recordkeeping firm.
The addition of Tax Sheltered Corporation Inc. to the Blue Ridge portfolio has been met with enthusiasm from both parties. Bill Yoerger, CEO of Blue Ridge, expressed excitement about the partnership, stating that the TSC team was the perfect fit to help advance their strategic goals. Andrew Alexander, managing director at LLCP, also voiced his support for the acquisition, highlighting Blue Ridge’s commitment to growth and innovation.
In other industry news, Generational Wealth Partners has returned to Ameriprise Financial, bringing over $105 million in client assets. Private wealth adviser Kyle Rasmussen and financial adviser Nick Blasberg lead the practice, supported by financial planning specialist Hunter Bell. The team cited Ameriprise’s focus on adviser support and growth opportunities as key factors in their decision to join the firm.
Additionally, Kin Wealth of San Antonio, Texas, has joined Commonwealth Financial Network, bringing over $250 million in client assets. CEO Rebecca Boyd and partner Collin Fabac chose Commonwealth for its personalized approach and access to marketing and investment resources. The team will benefit from Commonwealth’s brand studio offering and research and investment solutions.
Lastly, Kestra Private Wealth Services has welcomed Attain Wealth Partners to its platform. The team, formerly associated with Merrill Lynch Wealth Management, brings over 40 years of expertise in portfolio management, retirement strategies, and estate planning. Co-founders Shakir Kaka and David Weinberg expressed their excitement about joining Kestra PWS and the opportunity to strengthen client relationships.
Overall, these recent acquisitions and partnerships in the financial services industry highlight the continued growth and innovation within the retirement plan benefits and wealth management sectors. Stay tuned for more updates and insights in the industry as these firms continue to expand and evolve.
