Ascensus to Acquire QBI
Ascensus announced June 28 that it will acquire QBI, LLC. The California-based third-party administrator will become part of Ascensus’ expanding TPA Solutions
QBI, based in Woodland Hills, Calif., works with more than 3,500 plans and has more than 80 employees. In a press release, Ascensus President David Musto hailed QBI as “a fast-growing company whose expertise in defined contribution and defined benefit plans is matched by their passion for building solid, long-lasting relationships with clients.”
QBI founder Greg Taylor said that his firm “has always believed that the best administered retirement plans are supported by a well-established and efficient service model and infrastructure” and that he is “looking forward to making QBI even more effective at helping businesses achieve their retirement plan goals as part of Ascensus.” He said the new connection between the firms will give QBI access to additional resources in meeting client needs.
The acquisition is the latest in a series of deals by Ascencus. The firm’s acquisitions since the first of the year include Swerdlin & Company and SES Advisors
, ASPERIA, Benefit Planning Consultants and Qualified Plans LLC.