The Oregon-based trustee company for retirement plans will be taken over by Dougherty, who will assume full responsibility for Columbia’s retirement plan platforms, MasterPlan and PRO Plan, according to a press release from the company. DPA has been a strategic partner to the MasterPlan product since its launch in 1997, the company says.
The deal is expected to close in the third quarter of 2005, and as usual is subject to regulatory approval. CTC will also get a new name under the deal: the Cascade Trust Company..
Columbia Trust Company is a state licensed organization that serves as a trustee, or custodian, for retirement plan clients; DPA ( www.dpanet.com ) is a retirement plan consulting firm.