The materials contained herein are intended for instruction only and are not a substitute for professional advice. He previously served as president of Wilmington Trust Retirement and Institutional Services Company (a member of the Wilmington Trust Company family; NYSE: WL) and its predecessor company, AST Capital Trust Company of Delaware. Most people dont plan to stay in touch with their former employer after they change jobs or retire. . Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Multiple locations. Chief Financial Officer. Greg Tschider 70% approve of Greg Tschider 's performance Founded 1985 Company size 1001 to 5,000 Revenue $25M to $100M (USD) Industry Financial Transaction Processing Headquarters Walnut Creek, CA Link Newport Retirement Services website Opens in a new window Learn more Salaries Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. DRESHER, Pa., Nov. 3, 2021 /PRNewswire/ -- Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a . Joining with Ascensus provides additional resources to continue the expansion of services, and I am excited to see the new ways that our combined associate teams will work together for our clients.. call the Participant Service Center at844-749-9981. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. Ascensus will also have more than 700,000 health and flexible savings and COBRA [Consolidated Omnibus Budget Reconciliation Act] accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 nonqualified retirement plan participant accounts. (November 3, 2020) - Newport Group, Inc. (Newport) announced today that it has completed the purchase of Plan Administrators, Inc. (PAi), a third party administrator and recordkeeper headquartered in De Pere, Wisconsin. The transaction is expected to close in the first quarter of 2022, subject to receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking and review and approval by the New Hampshire Banking Department, and satisfaction of other customary closing conditions. / Newport Group, Inc. Newport Group, Inc. Website. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. Newport Trust Company formed, offering our clients non-discretionary, directed trustee and custodial services. The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI). The Registered Agent on file for this company is Corporation Service Company Which Will Do Business IN California As Csc - Lawyers Incorporating Serv and is located at 2710 Gateway Oaks Dr Ste 150n, Sacramento, CA 95833. Under Greg's leadership, Newport has grown to a national full-service retirement provider servicing more than $265 billion of corporate retirement and insurance assets and 1.4 million plan participants. CEO. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. January 9, 2019 Uncategorized. Integrity Always." is a registered trademark used under license by Ascensus, LLC. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Contacts. With . But employers that lose contact with participants who maintain a balance in the companys retirement plan risk breaching their fiduciary duties and jeopardizing the tax-qualified status of their plan. Newport Group achieves a major milestone: providing service to more than one million retirement and benefit plan participants. Greg Tschider 98 Ratings Your trust is our top concern, so companies can't alter or remove reviews. Search Contacts. As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Newports Perspective on Market Volatility "PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. With Newports business, Ascensus will see an expanded tax-advantaged savings participant base, including more than 140,000 nonqualified retirement plan participant accounts. Non-Qualified Plans and the Coronavirus For more information about Newport Group Consulting and its services, Newport Group Securities, Inc. or Newport Securities Insurance Services and services offered, please refer to our Form ADV Part 2, which is available by contacting us at 407-333-2905, visit our website at www.newportgroup.com, or advisorinfo.sec.gov. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. Ugift is a registered service mark. Website. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer (COO) since 2014has been named interim CEO. Greg has 1 job listed on their profile. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. Free and open company data on Texas (US) company Newport Group, Inc. (company number 0802356195), 1350 TREAT BLVD, STE 300, Walnut Creek, CA, 94597. 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Newport maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. NEWPORT GROUP, INC. is a California Stock Corporation - Out Of State - Stock filed on May 14, 2010. The materials contained herein are intended for instruction only and are not a substitute for professional advice. All Rights Reserved 2023 Ascensus, LLC. Please update your bookmarks accordingly. Terms of the transaction were not disclosed. Enroll in Your Plan, For account questions or help logging in, Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. In addition, the companies respective investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create better outcomes for savers. According to a press release, the newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. In that time, employees at the company's offices nationwide have helped more than 3,600 children get new shoes, jackets and socks! Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Youll learn how you can enhance your hiring and retention strategies. The capital behind Verisight is Stone Point, a hedge fund in Greenwich, Conn. that bought out the Chicago family office a couple of years ago. Check out all Newport jobs Newport Moline, IL office. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. The Registered Agent on file for this company is CT Corporation and is located at 124 W Capitol Ave Ste 1400 124 W Capitol Ave Ste 1400, Little Rock, AR 72201. Verisight will continue to be led by Greg Tschider, who helped a family business based in Chicago roll up trust and custody firms before they sold that and moved on to the record keeping industry.
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