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Mid Atlantic Capital Group Acquires TPA Workflow Automation Software Specialist PensionPro
Thursday 08 April 2021

US-based Mid Atlantic Capital Group (Mid Atlantic), a provider of technology-enabled solutions for financial intermediaries and their clients, has acquired Harrisburg, Pennsylvania, US-based workflow automation software provider PensionPro, the company said.

PensionPro software is used by third-party administrators.

This acquisition expands Mid Atlantic's trust and retirement services division and the combined company will be able to establish meaningful integrations, automations, and innovations that will benefit the entire retirement plan ecosystem. Mid Atlantic is a subsidiary of EdgeCo Holdings.

Founded in 2010 by CEO Renée Conner, who has over three decades of experience in the TPA industry, PensionPro supports over 400 TPAs across the US through its workflow automation and plan sponsor portal software.

These solutions allow TPAs to manage projects and analyze profitability while also providing tools and solutions that enhance the advisor-client relationship.

In addition to PensionPro's software solutions, the company supports Benefit Insights, a marketing solution for TPAs with customizable websites and newsletters. Conner and the entire PensionPro team will stay on as full-time employees.

Mid Atlantic, is a provider of best-in-class technology-enabled solutions for financial intermediaries and their clients in the retirement services and wealth management industries.

For over four decades, Mid Atlantic has provided a suite of technology and support services to a diverse national client base of financial intermediaries.

This client base includes registered representatives, investment advisors, retirement plan recordkeepers, TPAs, bank trust departments, broker dealers, and insurance companies.

The company currently services approximately USD 150bn in client assets under custody or administration and more than 15,000 financial advisors and 500 financial institutions.

PensionPro was formed in 2010 as a solution for TPAs in the increasingly complex world of pension management and business management technology.

PensionPro develops TPA specific software to track and manage Clients, Plans, Contacts and Projects. The software suite focuses on providing tools for managing projects and analyzing profitability by reviewing employee time and client fees.

Plan sponsor website integration further enhances a TPA firm's ability to easily and securely gather information and deliver documents to their clients and referral sources. PensionPro's cloud service model also removes the burden of handling an enterprise level IT infrastructure required to run the applications.
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Date Published: 08/04/2021

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