Daybright Financial Expands Reach with New Acquisition
Daybright Financial Enhances Retirement Solutions
In an exciting development in the retirement solutions sector, Daybright Financial has acquired The Platinum 401k, Inc. This acquisition represents a significant stride in Daybright's strategic efforts to expand its offerings and solidify its position in the market.
Strengthening Position in the Market
The acquisition marks Daybright Financial's third strategic move this year, further cementing its focus on the Multiple Employer Plans (MEPs) and Pooled Employer Plans (PEPs) business segments. The Platinum 401k is recognized nationally for its exceptional compliance in ERISA 3(16) and its innovative retirement solutions tailored for small to mid-sized businesses.
A Strategic Fit
Daybright’s CEO, Megan Schneider, expressed, "This acquisition reflects our commitment to delivering smarter, more accessible retirement solutions. The Platinum 401k team brings a powerful combination of innovation, integrity, and operational excellence. Together, we'll accelerate our ability to serve clients with flexible, compliant, and cost-effective retirement plans." This sentiment showcases how this merger aligns with the company's overarching goal of simplifying health and financial wellness for businesses and their employees alike.
A Strong Team
Further reinforcing the significance of this deal, Patrick Hale, Head of Private Sector Retirement at Daybright Financial, noted, "The Platinum 401k enhances our Private Sector Retirement Solutions segment with proven leadership in the MEP/PEP space. Their approach to simplifying retirement plan administration perfectly aligns with the needs of our clients in today’s complex benefits landscape." This collaboration is essential for Daybright as it positions itself for future growth amidst shifting market demands.
Future Growth and Potential
Terry Power, Founder & CEO of The Platinum 401k, remarked, "Joining Daybright is a natural next step for us. We've always believed in making retirement plans easier and more affordable. With Daybright's resources and reach, we're excited to scale our impact and continue delivering exceptional value to our clients." This alignment hints at a promising horizon for both companies, especially as they navigate an increasingly competitive environment for retirement and financial services.
Building on Previous Successes
This strategic addition follows Daybright's successful acquisitions of Spectrum Pension Consultants, Inc. and Hessel & Associates, LLC. Each addition reinforces Daybright’s reputation as a preferred M&A partner within the industry and enhances its national footprint in retirement solutions along with compliance services.
About Daybright Financial
Daybright Financial stands as one of the nation’s largest independent, privately held firms specializing in employee benefits and retirement plans. Established in 2008, the firm has grown significantly, acquiring over 60 respected firms across the nation, solidifying its leadership in the industry. With esteemed certifications like "Best Places to Work," Daybright serves over 18,000 employer groups and 3.6 million plan participants, demonstrating its commitment to excellence.
Contact Daybright for More Information
For additional information on Daybright Financial, visit their official website. They encourage benefits brokers, consultants, and PEOs to explore Daybright Broker Solutions for tailored offerings that meet the evolving needs of their clients.
Frequently Asked Questions
What did Daybright Financial acquire?
Daybright Financial acquired The Platinum 401k, Inc., a leader in the retirement plan administration sector.
Why is this acquisition significant?
This acquisition strengthens Daybright's offerings in the MEP/PEP segments and enhances its ability to deliver comprehensive retirement solutions.
Who is the CEO of Daybright Financial?
The CEO of Daybright Financial is Megan Schneider.
How many acquisitions has Daybright Financial made this year?
Daybright Financial has completed three strategic acquisitions this year.
What types of businesses does Daybright Financial serve?
Daybright Financial serves a variety of businesses, primarily focusing on small to mid-sized companies and their employee benefit needs.
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