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403(b) Firm Rolls Up 3 Plan Vendors

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Organizers of U.S. Retirement Partners Inc. are forging ahead with efforts to acquire regional firms that sell retirement plans to grade schools, middle schools and high schools.

U.S. Retirement, Iselin, N.J., a new 403(b) plan “roll up” company, announced in June that it would be using funding from Centre Partners Management L.L.C., New York, to make the deals.

The owners of the acquired companies will be shareholders in the parent company and members of the parent company’s senior leadership team, but they will continue to run under their firms under the firms’ original names, according to U.S. Retirement.

U.S. Retirement says it has acquired F.R. Owen & Associates, Charlotte, N.C.; Eschels Financial Group Inc., Birmingham, Mich.; and Stephen H. Greenberg & Associates, Weston, Fla.

Stephen H. Greenberg helps manage about $165 million in client plan assets, U.S. Retirement says.


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