Verisight, Inc. Acquires DailyAccess Corporation

Combined organization to service more than $30 billion in retirement plan assets

Business Wire

WALNUT CREEK, Calif.--(BUSINESS WIRE)--

Verisight, Inc. (Verisight), a recognized leader in comprehensive retirement plan services and consulting solutions, today announced the acquisition of DailyAccess Corporation (DailyAccess). DailyAccess, along with its subsidiaries, InterServ, LLC and DailyAccess Health and Welfare, LLC, provides retirement and benefit plan services for advisors, employers, and employees. DailyAccess will operate as a wholly-owned subsidiary of Verisight, while InterServ and DailyAccess Health and Welfare will continue to be wholly-owned by DailyAccess. The transaction is expected to close within the next few weeks.

Verisight and DailyAccess share the same focus on working with financial advisors and plan sponsors to service retirement and benefit plans. Their combined areas of expertise include: 401(k) and other retirement plans, recordkeeping and administration, trust and custodial services, actuarial services, Employee Stock Ownership Plans (ESOPs), compensation and employee benefits consulting, as well as third party fiduciary support and health and welfare services. The combined organization will continue to equip advisors with innovative tools, technologies and systems to provide their clients with competitive advantage in the market. By joining forces, the combined organization intends to provide advisory partners with more robust opportunities and the expertise to grow their practices.

“The synergies gained by combining the resources of our two companies will enable us to deliver more robust solutions for our clients and advisors, in order to meet the demands of the evolving benefits industry," says Greg Tschider, CEO of Verisight. “This strategic acquisition not only reaffirms our commitment to exceptional client service but, through expanded geographic reach and service offerings, also firmly establishes the combined entity as one of the largest and most comprehensive providers working in partnership with financial advisors in the retirement space today.”

The combined company, operating under separate brands for the short-term, will provide services to over 6,500 retirement plan clients with more than $30 billion in retirement plan assets. Greg Tschider will be at the helm of the combined organization and continue to serve as CEO of Verisight with Tommy Thomasson continuing to serve as President and CEO of DailyAccess. The combined company will serve clients across the nation from 18 different offices. The acquisition particularly enhances Verisight’s presence in the Southeast U.S.

“We are thrilled about Verisight and DailyAccess joining forces. Both organizations share similar cultures and operating philosophies focused on partnering with advisors, to help them meet their client goals. We believe that our combined organization will fulfill the market need for a client-centric, national independent retirement plan provider that is focused on ease and expertise for the advisor and their clients,” says Tommy Thomasson, DailyAccess president and CEO.

About Verisight, Inc.

Founded in 1985 and headquartered in Walnut Creek, California, Verisight is a privately-held, national corporation that offers comprehensive retirement plan services and consulting solutions for a wide range of clients, including employers, plan sponsors, advisors, financial intermediaries, and HR administrators. As a recognized leader servicing a wide range of companies with more than $23 billion in retirement plan assets, Verisight is a client-centric company with industry-focused consulting expertise in financial institutions, healthcare, manufacturing and distribution, not-for-profit and professional services. Verisight maintains complete investment independence and fee transparency. For more information, visit us at www.verisightgroup.com and/or connect with us on LinkedIn.

About DailyAccess Corporation

DailyAccess is a retirement and benefit plan service provider headquartered in Mobile, Alabama. As part of its Diamond Strategy®, DailyAccess delivers comprehensive, cost-effective, and easy-to-use benefits services. DailyAccess provides, either directly or through its wholly-owned subsidiaries, InterServ, LLC and DailyAccess Health and Welfare Services, LLC, recordkeeping, administration, consulting, actuarial, investment advisory, and health and welfare services customized to its clients’ needs. DailyAccess provides services to approximately 1,350 retirement plan clients representing approximately $7 billion in assets. For more information, visit www.dailyaccess.com.

Contact:
Media:
Bliss Integrated Communication
Meg Wildrick, 212-840-0095
meg@blissintegrated.com

Rates

View Comments (0)