The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:PennRock Goes National Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, March 19, 2001

PennRock Goes National

Reported by Alfred Wang

Victims to the shrinking profit trends squeezing the industry, PennRock Financial Services has acquired the National Advisory Group in an attempt to wedge open new revenue. The merger brings Blue Ball, Pennsylvania-based PennRock the capacity to offer funds, brokerage services, 401(k) plan administration, and even actuarial services externally, while internally moving into place a new cross-selling partner for its banking services.

The Dresher Funds, National Advisory Group's two no-load fund of funds, will add approximately $100 million in assets under management to the $280 million already managed by the holding company's financial services division. Additionally, National Shareholder Services, a division of National Advisory Group, provides shareholder, administrative and transfer agency services.

The merger will add about 500 plan sponsors to PennRock, bringing the total to approximately 575.

National Advisory Group, headquartered in Dresher, Pennsylvania, will continue to operate in its current location as a subsidiary of PennRock under the management of newly-installed president Michael Peuler. Peuler, formerly the senior vice president of financial services, expects the National Advisory Group to be accretive in the first year.

PennRock expects to expand the staff, but Peuler declined to comment on specifics. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use