APPLETON, Wis. - June 22, 2020 - The Retirement Advantage, Inc. (TRA), an independently owned, industry-leading national retirement services company, today announced the acquisition of Birmingham, AL based PlanTech, LLP.
"Our acquisition of PlanTech complements our overall strategy of providing flexible, market leading solutions to our clients," said Matt Schoneman, president of TRA. "The acquisition leverages many of TRA's existing capabilities and we look forward to the opportunity to serve our new joint clients."
Tom Powell & Benny Paternostro, owners of PlanTech, LLP echoed their excitement with the acquisition, "We are pleased to announce the transaction as it ensures the continued support and enhancement of services for current and future clients over the longer term. TRA is the perfect fit for us. We share a common culture of providing outstanding, personalized service to our clients and advisors as well as an ongoing desire to integrate the necessary tools and technology to ensure each plan's success. We look forward to the additional resources that will be available to us and are very enthusiastic at what the future holds for both of our firms."
"The PlanTech integration of over 600 clients and 24 staff members furthers TRA's corporate strategy of continued growth and will offer TRA additional marketing capabilities throughout the southeast", asserts Jeff Schreiber, TRA's vice president of distribution.
"TRA's commitment to PlanTech will strengthen TRA's capabilities and services, allowing us to maintain our long-term focus on serving our clients' needs and remaining a top tier workplace for our associates," said Schoneman.
About PlanTech, LLP
PlanTech has been providing full-service employer sponsored retirement plan administration and consulting since 1989. PlanTech assists employers and their advisors in the design, implementation, administration and communication of a wide range of retirement plans. PlanTech has been committed to providing these services to our clients in a timely, accurate and cost-effective manner.
About The Retirement Advantage, Inc.:
TRA, based in Wisconsin, is a national retirement services company providing third-party administration and fiduciary services to financial advisors, wealth managers and businesses of all sizes. An on-going commitment to providing expert consultation, resources and exceptional customer service has positioned TRA as one of the largest, privately held third party administrators in the nation. We proudly serve more than 9,000 plan sponsors with more than $9.0 billion in retirement assets under administration. You can count on us to deliver on time, on budget, and with precise attention to detail. To learn more about our industry leading solutions, please visit https://tra401k.com/.
Media Contact
Matt Schoneman | President
