Prime Pensions, a provider of retirement plan compliance and administration services, has acquired third-party administrator Valley Forge Pension Management, Prime Pensions announced in a news release Aug. 6.
Terms of the deal were not disclosed.
The acquisition will add 350 retirement plans to Prime Pensions’ roster, bringing the total number to 11,000, Scott Feit, Prime Pensions’ founder and CEO, said.
The deal will also extend Prime Pensions’ geographic footprint into Pennsylvania, where Valley Forge Pension Management is based.
VFPM provides retirement plan compliance and administration services to small- and mid-sized businesses. It was established in 1998 as the retirement plan administration business of Valley Forge Financial Group, a financial services provider to high net worth and ultra high net worth families.
VFPM is led by Dena Hadzinikolov and Luci Hartman, who will continue to lead the Pennsylvania region, the news release said.
Prime Pensions currently has office locations in New Jersey, California, Washington, Oregon and now Pennsylvania. With the new acquisition, Prime Pensions will have eight offices nationwide, Feit said.
