ExpertPlan

About ExpertPlan

Founded in 1999, ExpertPlan, Inc. operated as a provider of retirement plan solutions and services headquartered in East Windsor, New Jersey. The company specialized in offering recordkeeping and administrative services, particularly for micro and small-sized retirement plans. Its business model was centered around providing a web-based, open-architecture investment platform that financial intermediaries could private-label. This allowed a diverse client base—including asset management firms, third-party administrators (TPAs), broker-dealers, insurance companies, and banks—to offer customized 401(k), 403(b), and 457 retirement plan solutions to employers under their own brand.

ExpertPlan's service suite encompassed plan management, administration, compliance, and consulting for various plan types such as defined benefit and cash balance retirement plans. The company's technology-focused approach provided web-enabled services for online plan setup, recordkeeping, and transaction management. A significant part of its growth strategy involved acquisitions, including the purchase of third-party administrator Actuarial Enterprises, Inc. in 2009, which expanded its capabilities into defined benefit and insurance-based products. Over its history, the company secured multiple rounds of funding from venture capital firms, including an $8.275 million Series C round in 2004. At the time of its acquisition, Julian Onorato served as the CEO and Chairman of the Board.

In a strategic move to expand its market share, Ascensus, a major retirement plan solutions provider, announced a merger agreement with ExpertPlan in November 2012. The acquisition was finalized on January 16, 2013, at which point ExpertPlan became a subsidiary of Ascensus. Before the acquisition, ExpertPlan managed approximately 16,000 plans and had grown its revenue to $26.3 million by 2011. The merger was driven by the complementary nature of ExpertPlan's platform, particularly its strengths in web-based services for micro plans and administration for non-traditional assets.