EdgeCo Holdings announced a definitive agreement to sell the AmericanTCS business to Ascensus. Ascensus is the engine at the center of America’s savings ecosystem that brings together intuitive technology, AI and high-touch service to support better financial outcomes for savers, small to mid-sized businesses, state governments, and leading corporations and financial institutions.  Closing is expected in Q3 pending regulatory approval. 

This is a strong outcome for AmericanTCS. Ascensus is the right home for these businesses: a retirement-focused, independent platform that recognizes the value of what we have built across Custody, Retirement, PensionPro and the rest of AmericanTCS. Joining Ascensus brings additional scale, infrastructure and a parent firm whose entire focus is the retirement and savings space.

An independent, retirement-focused acquirer. Ascensus is built end-to-end around the retirement and savings ecosystem. The company offers comprehensive qualified and nonqualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, corporate- and bank-owned life insurance solutions, as well as fiduciary and total rewards services.  

Our operating discipline continues to anchor how we serve our partners. The information barriers, data integrity practices and operational separation that protect each AmericanTCS business are structural. They are built into how these businesses operate alongside one another, and they have been tested by years of use. That discipline moves with the business under Ascensus. 

Short-term, how we work with our partners continues exactly as today. Across every AmericanTCS line, the service experience, the operational substrate and the solutions we offer continue exactly as today. This acquisition is focused on platform and capability investment, not cost-driven consolidation.