A Pennsylvania-based financial services company had acquired the book of business of Carmel-based ABV Advisors. Ascensus did not disclose financial terms, but says the deal will boost its compliance expertise and increase its client base.
ABV Advisors is a benefit compliance advisory form that specializes in health and welfare Form 5500 preparation and plan documentation services. “Book of business” refers to the company’s list of clients.
“At ABV Advisors, our highly consultative, client-centric approach has allowed us to build trusting, long-lasting relationships with our clients, including large, nationally recognized employee benefits consulting, insurance brokerage, and accounting firms,” Anne Vandeveer, president of ABV Advisors, said in a news release. “We know these clients will receive the same high-touch interactions from Ascensus and look forward to sharing our decades of knowledge and experience in continuing to service these clients.”
Ascensus did not state whether any jobs would be affected by the deal.