TACOMA, Wash., June 15, 2016 (GLOBE NEWSWIRE) -- Spectrum Pension Consultants, Inc. (Spectrum), an independently owned licensee of Alliance Benefit Group (ABG), is pleased to announce an agreement to purchase 100% of Plan Sponsor Services, L.L.C. (PSS).
Spectrum and PSS have spent many hours collaborating to create a plan that allows seamless transition in services, fees and plan management for sponsors and participants along with the advisors of PSS plans. Through this merger PSS clients and advisor partners will have access to a comprehensive suite of technology and management services while still maintaining high quality customer service. Spectrum's 37+ years in the retirement management business, ABG membership, and professionally qualified staff assures they are well positioned for the task of continuing to provide quality plan management services to PSS clients and growing the consulting segment nationwide.
To show the continued commitment to existing and future partners in Arizona, this book of PSS business will continue to be operated under the same Plan Sponsor Services, L.L.C. trade name at www.pssplans.com. Spectrum's organization and structure is similar to that seen in management consulting firms. Each Spectrum Client is "owned" by an Account Manager with a team of highly qualified and experienced consultants. Sponsors can anticipate more frequent communication and better technology including development of Plan Intelligence Reporting™ leading to stronger relationships and better outcomes. Spectrum's engineers and consultants expect to engage regularly with Joe Doku, Chief Operations Officer of PSS.
"We are delighted to enhance value to our clients by integrating PSS’ expertise in financial wellness and fiduciary consulting within Spectrum’s Business Services and Plan Services Segments," said CEO Petros Koumantaros. Yannis Koumantaros, who is responsible for Spectrum's Client Engagements commented, "Nobody wants static PDFs anymore. Our team of consultants and engineers utilize Microsoft Power BI, Microsoft Azure, and Microsoft Surface Pro Tablets to show Plan Sponsors their data in real time using big data Visualizations. We are excited to have Joe Doku join our team, and help develop the future of the 401k consulting industry."
About Alliance Benefit Group (ABG)
Alliance Benefit Group (ABG), founded in 1992, is a consortium that provides services to over 22,000 Plans, more than 1.2 Million Participants, and administers north of $64 Billion in plan assets. Spectrum is the first west coast ABG affiliate, and the only firm west of Utah to be part of this consortium. Learn more here: www.abgnational.com.
About Spectrum Pension Consultants, Inc.
Spectrum is a leading service provider to employers sponsoring various retirement, deferred compensation and other employee benefit programs in the western United States. Spectrum's services are tailored to the specific needs of each individual client and include: consulting and advice; plan management and administration; and employee communication and education services. Additional information about Spectrum is available at the company's web site: www.spectrumpension.com.