NFP has acquired Tycor Benefit Administrators, NFP announced in a news release Jan. 22.
The acquisition of the third-party administration firm will increase NFP’s presence in the greater Philadelphia market and bolster its retirement plan advisory and third-party administration services nationally, NFP said.
As part of the transaction, Tycor principals — Executive Vice President Lauren Stuart and President J. Timothy Corle — will join NFP as senior vice presidents and report to Jessica Espinoza, managing director of retirement in NFP’s Atlantic region.
Wayne, Pa.-based Tycor works with clients in Philadelphia and the tristate area, focusing primarily on providing third-party administration record-keeping and retirement services while also offering employee benefits, wealth management services, financial planning and individual insurance products.
NFP did not have information about how many plan sponsors Tycor serves, saying only that the company manages — and advises on — $500 million in assets.
NFP, which was acquired by Aon in April 2024, did not immediately respond to a question about how many plan sponsors it serves and how much it has in assets under management.
M&A consulting firm Wise Rhino Group represented Tycor in the transaction.