Retirement recordkeeping software developer ExpertPlan has acquired Actuarial Enterprises Inc., a third-party administrator of defined benefit and insurance plans.
This is the company's second acquisition in the past nine months. ExpertPlan acquired Trust Company Service Inc. last April.
Financial terms of the deal were not disclosed. Actuarial Enterprises currently operates out of Newtown, Pa., and will ultimately relocate its employees to ExpertPlan's headquarters in East Windsor. ExpertPlan plans to begin working on converting over AEI's defined-benefits and insurance products to its software.
ExpertPlan provides private-labeled recordkeeping to asset management firms, broker-dealers, insurance companies, CPAs, payroll companies and banks that serve 401(k) and other defined-contribution plans.
