NORWICH, N.Y. — EPIC Advisors, Inc., a subsidiary of NBT Bancorp Inc., has acquired Retirement Plan Services, LLC (RPS), a retirement-plan services company located near St. Louis, Missouri.
EPIC is a Rochester–based 401(k) record-keeping firm, while RPS provides recordkeeping, administration, and plan-design services for employers nationwide, NBT Bancorp said in a news release. NBT didn’t disclose any financial terms of the deal.
“We’re pleased to have this opportunity to continue the growth of our well-established retirement-services business with the acquisition of RPS by EPIC,” John Watt, Jr., president and CEO of NBT Bancorp, said. “We now have retirement-plan clients in all 50 states and we serve over 220,000 plan participants through our retirement-plan services entities. EPIC and RPS together will enable us to build on our mission of helping America retire.”
(Sponsored)
Financial Inclusion through Affordable and Safe Banking Products
Financial inclusion is the accessibility of useful and affordable financial products and services to all individuals and businesses. Financial institutions have made strides in advancing these practices, most recently in
In the Market to Build? Get Started in 4 Simple Steps
Finding the perfect home isn’t always easy, especially in our world today. The U.S. Housing Shortage has created an ongoing challenge for homebuyers across the nation, opening the door to
Founded in 1993, EPIC provides customized retirement-plan recordkeeping, marketing, and service options for banks, trust companies, third-party administrators, investment advisors, and other financial intermediaries who serve the retirement-plan market.
NBT acquired EPIC in 2005 and has grown its retirement-plan services business “organically, and in recent years, through acquisitions.”
The NBT acquisitions included Downeast Pension Services, Inc. in New Gloucester, Maine in 2017; Actuarial Designs & Solutions, Inc. of Scarborough, Maine in 2016; and Third Party Administrators, Inc. of Bedford, New Hampshire in 2015.
Norwich–based NBT Bancorp (NASDAQ: NBTB) had total assets of $9.1 billion at Dec. 31, 2017. The company primarily operates through NBT Bank, N.A., EPIC Advisors, Inc., and NBT Insurance Agency, LLC.
Contact Reinhardt at ereinhardt@cnybj.com
