This financial services organization which specializes in retirement plans, 529 College Savings Accounts, Health Savings Accounts and benefits plans, and trust services, faced an aggressive, multi-year, organic and inorganic growth objective.
Acquisitions of small retirement plan advisory businesses and a Health and Welfare advisor added volume as well as a new line of business. As acquisitions grew to two per month on average, the integration of these businesses could not be accommodated by current internal staffing. The organization had tried temporary staffing but found that approach to be inconsistent and error prone.
Each acquired business had a large number of individual contracts that required adherence to GAAP revenue recognition rules. Furthermore, most of the acquired companies had data in various systems that were not consistent and were not on a GAAP basis of accounting.
Eliassen Group was engaged and developed processes to evaluate the data for each acquisition. As part of this process, we developed:
Our team coordinated the integration process from date of acquisition until full integration with the corporate system was achieved. As an added benefit, our processes were standardized and sustainable to achieve efficiencies in acquisition integration.