First Mercantile Trust, a subsidiary of EdgeCo Holdings, Completes Strategic Acquisition of American Trust Retirement
Summary
“American Trust Retirement represents an ideal fit with our retirement plan platform and will support our continued growth and delivery of unique solutions in partnership with financial intermediaries,” said John Moody, Chief Executive Officer of EdgeCo. “We believe that advisors, TPA’s, and their respective clients, as well as our employees, will win in a big way as a result of this acquisition,” said Kurt Wedewer, who has joined EdgeCo as a Regional President of American Trust Retirement. “ATR and EdgeCo’s shared focus on creating better retirement outcomes and providing a differentiated fiduciary offering is a perfect combination. Following the acquisition, EdgeCo will be rebranding its full-service record-keeping business as “American Trust Retirement”, reflecting the organization’s national scale and growth. ATR and FMT’s dedicated service model, technology enabled participant engagement strategy, Collective Investment Trust offering, and discretionary trustee 3(16) and 3(38) solutions will all continue to be foundational elements of the combined business.