NFP Buys Tycor
NFP has acquired Tycor Benefit Administrators, Inc., a multidisciplinary professional services firm based in Wayne, PA.
The principals of Tycor, Lauren Stuart and J. Timothy Corle, will join NFP as senior vice presidents and report to Jessica Espinoza, managing director of Retirement in NFP’s Atlantic region.
“I’m excited to welcome Lauren, Tim and the Tycor team to NFP,” said Espinoza. “This acquisition is a great opportunity to grow our presence in the greater Philadelphia market and round out our capabilities. We’re especially looking forward to expanding our ability to scale our retirement plan advisory and third-party administration services nationally with Tycor’s offerings.”
Founded in 1980, Tycor has established itself as a multigenerational and diversified professional services firm that manages and advises on approximately $500 million in assets. The firm works with clients in Philadelphia and the tri-state area, focusing primarily on providing third-party administration (TPA) recordkeeping and retirement services while also offering employee benefits, wealth management services, financial planning and individual insurance products.
“This is an ideal next step in Tycor’s evolution, and we’re thrilled to be part of NFP,” said Stuart and Corle in a joint statement. “We’re also very proud of our client service and excited to join a like-minded organization committed to helping employers empower their employees to live well and retire comfortably. The combination of access to NFP’s wide array of human capital and employee benefits solutions and our highly effective service model will bring significant value to business clients and their employees in the region.”
“Tim and Lauren have done an amazing job building Tycor into one of southeastern Pennsylvania’s premier firms,” shares Peter Campagna, managing partner at Wise Rhino Group, whose client was Tycor. “They were early pioneers in providing a complete suite of services to serve the retirement and benefit needs of both individual and corporate clients. NFP is the perfect partner to help them continue innovating and serving their clients.”
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
