Get more! Sign up for PLANSPONSOR newsletters.
Administration February 11, 2005
National Investment Managers Announces Acquisition
November 2, 2005 (PLANSPONSOR.com) - Retirement plan
administrator and investment management company, National
Investment Managers, has announced its acquisition of
retirement plan services provider, American Benefit
Resources.
Reported by Rebecca Moore
In its announcement, National Investment Managers said the acquisition will expand its predominately Philadelphia-metro market to include Boston, MA; Houston, TX; Los Angeles, CA; Seattle, WA; Portland, OR; and White Plains, NY. Its member firms provide pension administration services, retirement planning, asset preservation, and defined benefit services to clients.
The acquisition includes the following five firms: Benefit Management Inc. in North Attleboro, Massachusetts; Benefit Planning Inc. in Marina del Rey, California; Doyle-Barnett Associates, Inc. in White Plains, New York; M.L. Kerns and Associates, Inc. and MLK Capital Management, Inc. in Houston, Texas; and National Associates, Inc. N.W. in Seattle, WA. American Benefit Resources and its affiliates currently serve 5,000 plans and 50,000 plan participants.
As a result of this acquisition, National Investment Managers will have $4.5 billion in assets under administration and $350 million in assets under management.