Kravitz Becomes Part of Ascensus
Ascensus has announced the acquisition of independently owned Kravitz, Inc., a retirement administration firm and cash balance specialist.
According to a press release
, Kravitz, founded in 1977, designed its first cash balance plan in 1989. The firm offers training, education and support on cash balance plans to its clients and an extensive network of financial advisors and TPA partners. It employs more than 85 individuals and services more than 1,400 clients with retirement plans.
As a result of the acquisition, Ascensus will serve approximately 50,000 plans. Kravitz will remain an independent business unit under the ownership of Ascensus and maintain its focus on cash balance plans, with Dan Kravitz continuing in a senior leadership role.