RSM McGladrey divests itself of its Human Capital Services division
by AccountingWEB on
By Anne Rosivach
Pension Specialists, Inc., (PSI) a retirement plans provider, has announced the acquisition of RSM McGladrey, Inc.'s Human Capital Services division. RSM McGladrey, Inc. provides assurance, tax and consulting services. The combined company will assume a new name, Verisight, Inc.
The firms did not disclose any details of the transaction, which they expect will close in 60 days. McGladrey limited its comments on a future relationship with Verisight, saying only that Verisight and McGladrey will maintain a strategic relationship through a joint marketing agreement.
"We look forward to a lasting relationship with Verisight," said Mike Stokke, RSM McGladrey's national client service strategy and delivery leader. "McGladrey will continue to work closely with Verisight to provide a full range of integrated and seamless solutions to clients of both organizations."
RSM McGladrey is an indirect, wholly owned subsidiary of the H&R Block organization.
RSM McGladrey, along with McGladrey & Pullen, LLP, an independent firm, are members of RSM International, the sixth-largest network of independent accounting and consulting firms worldwide.
The acquisition will expand PSI's retirement plan services to include Human Capital Services' offerings of retirement recordkeeping and administration, actuarial services, ESOP, compensation and employee benefits consulting.
Verisight will continue PSI's long-held position of remaining independent of any investment products or affiliations and consistent with the company's transparent fee-for-service model. Solutions will continue to include unlimited access to investment managers through a truly open architecture platform.