EdgeCo Holdings announced today it has completed its acquisition of Axios Advisory Group, Ltd. to join its AmericanTCS business unit.
“The addition of Axios Advisory Group aligns with our simple goal of making sure our business partners’ time is best spent in front of the client creating excellent outcomes, not dealing with operational challenges.”
Tim Friday, American TCS
The transaction includes acquiring American Pension Benefit’s (APB) retirement plan administration and recordkeeping services and the investment advisory services of Axios Wealth Management.
APB’s operations and offerings will be integrated into the various AmericanTCS entities. Encompassing all of the trust custody and retirement operations EdgeCo has acquired since 2018, AmericanTCS is composed of American Trust Retirement, American Trust Wealth, American Trust Custody, AmericanTCS Fiduciary Services and American Technology Automation.
“Our mission at AmericanTCS is to help create financial security for all Americans by bringing together industry-leading technology, investment solutions and, most importantly, people with deep experience in the retirement industry,” said Tim Friday, CEO of AT Retirement Services and American Trust Custody. “The addition of Axios Advisory Group aligns with our simple goal of making sure our business partners’ time is best spent in front of the client creating excellent outcomes, not dealing with operational challenges. We have had a long-standing relationship with Axios, so we know the entire team and have such respect for them. We are so excited to have them join AmericanTCS.”
A press release today noted that the transaction reflects a continued commitment by EdgeCo and its subsidiaries to provide retirement solutions to the small- and mid-sized retirement plan market and the advisors and intermediaries that serve them. The agreement with Axios Advisory Group represents the ninth transaction by EdgeCo in the retirement space, with additional acquisitions planned as part of the growth strategy going forward.
In June, EdgeCo announced it had acquired ERISApedia to further support the needs of retirement plans and their providers.
Headquartered in Pittsburgh, Axios Advisory Group provides services to retirement plans and wealth clients. APB services retirement plan advisors, institutions, plan sponsors and plan participants.
EdgeCo’s client base includes registered representatives, investment advisors and other financial intermediaries, including retirement plan recordkeepers, TPAs, bank trust departments, broker dealers and insurance companies. EdgeCo Holdings currently services over $650 billion in client assets under custody or administration and more than 10,000 financial advisors and 420 financial institutions.
SEE ALSO:
• EdgeCo Holdings Acquires ERISApedia
• AmericanTCS, Allianz Life Partner to Offer In-Plan Guaranteed Income Option