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StanCorp Completes Invesmart Deal

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A benefits giant has acquired a retirement services firm.

StanCorp Financial Group Inc., Portland, Ore., is paying about $85 million for Invesmart Inc., Pittsburgh.

Invesmart helps manage more than 4,000 retirement plans with about $10 billion in assets. It also has sales and service offices in 20 cities outside of Pittsburgh, and it has a participant counseling strategy that emphasizes face-to-face meetings with investment advisors.