PCS Retirement has acquired fellow record-keeping firm Aspire Financial Services, spokeswoman Kristen Saldarini confirmed in an email.
Terms of the deal, which closed on July 30, are not being disclosed. Neither firm will be changing its name, she said.
Mark Klein, CEO of PCS Retirement, will be CEO of the combined organization, and senior leadership at Aspire Financial Services will join the PCS management team, she said. The combined organization will have more than $23 billion in assets under administration, Ms. Saldarini said.