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TMCNet:  BCG Pension Risk Consultants Acquires Penbridge Advisors

[March 13, 2018]

BCG Pension Risk Consultants Acquires Penbridge Advisors

BCG Pension Risk Consultants, Inc. ("BCG"), a leading provider of pension consulting and pension risk transfer ("PRT") services, today announced it has acquired Penbridge Advisors, LLC ("Penbridge"), a specialist pension information and advisory services firm and thought leadership provider to the U.S. retirement industry.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180313005197/en/

As a division of BCG, Penbridge has been renamed BCG Penbridge and will continue to offer proprietary data, business intelligence and advisory services to defined benefit plan sponsors, helping them to meet their plan sponsor and plan fiduciary objectives.

In commenting on the acquisition, Mike Devlin, Founder and Principal of BCG, said, "Penbridge and BCG are a great fit. This transaction brings together a leading PRT information services and thought leadership provider with a leader in pension consulting and PRT placement and administrative support services."

As a result of this acquisition, Penbridge will bring the following under the newly formed BCG Penbridge brand:

  • The Penbridge PRT Database - used by over 400 plan sponsors and advisory firms - for comprehensive intelligence on insurance providers, insurance products; the Penbridge PRT Index, as well as thought leadership white papers and surveys
  • Penbridge's market leadership in US defined benefit plan cost benchmarking data, covering all major expense categories including Trust and Custody, Administration, Actuarial, Investment Management, Investment Advisory and PBGC Premiums
  • Penbridge's experience as an independent expert assisting plan fiduciaries to satisfy their "safest available annuity" selection responsibilities

Steve Keating, who founded Penbridge and is now Managing Director of BCG, added, "BCG's acquisition of Penbridge brings together complementary expertise and services with a singular focus to bring plan sponsors and advisors actionable analysis for ongoing plan management, de-risking and pension risk transfer."

Both BCG and Penbridge have worked in collaboration with law firms, consulting actuaries, independent fiduciaries, investment consultants, asset managers and financial advisors and have established working relationships with all of the insurers that participate in the US PRT industry and will continue to do so moving forward.

About BCG Pension Risk Consultants

Founded in 1983, BCG is one of the nation's premier pension risk consulting firms having advised on over 2,000 defined benefit liability settlements and plan terminations ranging from publicly-traded companies, to privately held, healthcare, banks and not-for-profits. BCG's mission is to help plan sponsors navigate a complex and lengthy annuity purchase and distribution process, while delivering to clients, individual participants and other stakeholders the utmost professionalism, courtesy and due diligence at all times. In 2018, BCG acquired Penbridge Advisors, LLC to form BCG Penbridge, one of the retirement industry's leading resources for pension information and advisory services. BCG has several offices across the nation with a dedicated corporate office in Braintree, MA, and operations offices in Austin, Boise, Cincinnati, Chicago and Stamford. Please visit our websites at: www.bcgpension.com; www.bcgpenbridge.com.


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