Waco, Texas, July 31, 2019 – July Business Services (JULY), an independently owned, national retirement plan recordkeeping and administration firm has entered into a merger and acquisition transaction with Summit Benefit Solutions, Inc. (Summit).
Summit, founded in 1999 and headquartered in Mansfield, Ohio, provides high quality retirement plan recordkeeping, administration, and payroll services to small and mid-sized companies across the Midwest. Both firms have roots that developed from regional CPA firms and operate under a strong set of guiding principles.
“Joining JULY is a great opportunity to build on the services we currently offer our clients. As our two firms integrate over the next year, it will allow us to improve the technology and online capabilities for our employers, advisors, and participants,” states Sheri Baker, President of Summit. “We’re excited to increase the capabilities we offer to our advisors by leveraging JULY’s dedicated advisor sales team, and marketing and educational resources.”
With this transaction, JULY has over 4,000 clients, $3.8B in plan assets, and 100,000 retirement plan participants. In addition, JULY expands its presence in the Midwest with an office location in Mansfield, Ohio, and a stronger client and advisor base in the region.
“We are very excited about the transaction with Summit as it helps both of our firms fulfill key initiatives and goals. Summit’s clients will benefit from JULY’s strong technology capabilities, and the transaction allows JULY to take another step in achieving our strategic growth plan. In addition, JULY will benefit greatly from increased leadership capacity and an experienced group of service-minded employees. Sheri Baker brings 20 years of industry experience to our firm, has joined JULY as an owner, and now serves as our Chief Financial Officer,” said JULY’s CEO, John Humphrey.
JULY is a leading retirement plan provider that supports financial advisors and third-party administrators to deliver successful retirement plan strategies through its fully independent, open-architecture retirement plan platform. JULY brings unbiased, expert knowledge to all facets of the retirement plan process including customized plan design, leading technology, and hands-on implementation and management of the plan. Please visit www.julyservices.com for more information.