American Trust Completes Asset Acquisition of LT Trust Company
September 2, 2021

MEMPHIS, Tenn.–(BUSINESS WIRE)–American Trust Company (“American Trust”), a leading, full-service provider of retirement solutions to small- and mid-sized plan sponsors, has completed its asset acquisition of the LT Trust Company (“LT Trust”) following required regulatory approval. The transaction was first announced on June 24, 2021.

Based in Denver, LT Trust provides open architecture 401(k) recordkeeping, outsourced retirement solutions, and other administrative plan solutions to approximately 4,500 retirement plans and 115,000 participants across all 50 states. The acquisition complements American Trust’s technology-enabled retirement solutions for financial intermediaries and enhances the company’s operational capabilities.

“The recordkeeping landscape has become increasingly complex as participant needs shift and technology evolves, and we are hearing louder calls for support among individual plan advisors and large institutions,” said Micah DiSalvo, Chief Revenue Officer at American Trust. “American Trust has proudly served as a trusted partner to the retirement community throughout our history and I am thrilled to welcome LT Trust to our family. LT Trust has a longstanding reputation for delivering high quality services and solutions and their capabilities will significantly enhance the resources, tools, and technology we can provide for our partners.”

American Trust will maintain a presence in Denver, expanding American Trust’s diverse talent pool in the Midwest and Western U.S. regions. LT Trust Chairman and CEO Bob Beriault will continue as a consultant to American Trust, as well as a shareholder, and the firm’s approximately 100 employees will all join American Trust.

Beriault added: “American Trust is widely regarded for its commitment to empowering advisor success and supporting stronger outcomes for retirement investors. The company is focused on creating a streamlined experience that’s rooted in quality service, and we are eager to bring LT’s technology and innovation to further enhance the advisor and client experience.”

This is American Trust’s third strategic acquisition in the past twelve months and represents a continuation of the company’s rapid growth trajectory. American Trust and its affiliates support over $125 billion of total retirement assets under advisement, management, or custody. The acquisition strategy advances the firm’s objective of delivering comprehensive solutions to financial institutions and intermediaries while improving retirement outcomes for participants. American Trust is a subsidiary of EdgeCo Holdings, a leading provider of technology-enabled solutions to financial intermediaries and their clients.

Sherman Howard acted as legal counsel, and Raymond James & Associates served as financial advisor to LT Trust with respect to the transaction. Kirkland & Ellis served as legal counsel to American Trust.

About American Trust Retirement

American Trust is a leading, full-service provider of retirement plan solutions to advisors serving the small- and mid-sized plan market. With offices in Dubuque, IA, Memphis, TN, Lexington, KY, and Greensboro, NC, American Trust brings together the cornerstones of a quality retirement plan including plan design, fiduciary oversight, discretionary trust services, cost efficiency, service, and technology. AT Retirement Services is a subsidiary of EdgeCo Holdings. For more information, visit www.americantrustretirement.com

About EdgeCo Holdings

Through its subsidiaries, EdgeCo is a leading provider of best-in-class technology-enabled solutions for financial intermediaries and their clients. For over four decades, EdgeCo companies have provided a suite of technology and support services including full-service retirement plan administration, brokerage, advisory, and trust and custody services to a diverse national client base of financial intermediaries. This client base includes registered representatives, investment advisors, and other financial intermediaries including retirement plan recordkeepers, TPAs, bank trust departments, broker dealers, and insurance companies. The firm services approximately $150 billion under custody, administration and wealth, working with over 15,000 financial advisors and 500 financial institutions.

Contact

Marissa Foy Comerford
Gregory FCA for American Trust/EdgeCo
EdgeCo@gregoryfca.com
610-228-2147