Combines PDR’s PensionPlanet.com with the Judy Diamond suite of data tools to broaden Summit’s reach and services in the qualified retirement plan market
New York, NY, June 9, 2014 –Summit Professional Networks today announced the acquisition of Pension Data Resources, Inc., known best in the industry by its PensionPlanet.com brand. Pension Data Resources, founded in 1987, provides Form 5500 pension/retirement plan data and information services to individual financial advisors and enterprise financial institutions. Summit owns Judy Diamond Associates, a suite of pension/retirement and health/welfare prospecting and plan analysis tools. The acquisition expands Summit’s position as a leading provider of data-driven prospecting, plan analysis and strategic planning tools to financial advisors, retirement professionals, and financial institutions.
The combined product portfolio, which includes Summit’s Retirement Plan Prospector and PDR’s ERISA Red Book Online among other products and services, will offer solutions to every facet of the qualified retirement plan market, from prospecting to sales training to competitive analysis and strategic planning. The collective resources of the two organizations will provide a full complement of information services, with multiple products and price points, to meet the needs of customers ranging from individual financial advisors to large-scale enterprises requiring detailed and complex information resources and market intelligence.
“The team at Pension Data Resources has built a very robust product set with great functionality and a long-standing history of enterprise services,” said Jeff Patterson, who oversees Summit’s Insurance and Benefits Networks and its retirement data business. “In addition to aggressively expanding our strength in the large enterprise segment of our business, this acquisition will enable us to bring expanded services to our individual customers as well.”
As part of the acquisition, Sam Sarcone, PDR’s Founder and Owner/Principal, will join Summit Professional Networks as President of the PensionPlanet division of Judy Diamond Associates.
“I’m pleased to have Sam Sarcone join our organization. Sam has built PDR into a valued industry resource,” said Patterson. “He is a respected expert in this field and has helped many companies grow their retirement plan businesses. His expertise and sales practice consultation will be a valuable addition for our customers.”
“We look forward to becoming part of the Summit family,” said Sam Sarcone, President, Pension Data Resources, Inc. “Along with the clear synergies between Judy Diamond & PensionPlanet.com, Summit’s broad presence in the qualified plans marketplace will enable us to continue to grow and innovate our research, sales & reporting products at the next level.”
About Summit Professional Networks
Summit Professional Networks supports the growth and vitality of the insurance, financial services and legal communities by arming professionals with the knowledge and education they need to succeed at every stage of their careers. We provide face-to-face and digital events, websites, mobile sites and apps, online information services, and magazines giving professionals multi-platform access to our critical resources, including Professional Development; Education & Certification; Prospecting & Data Tools; Industry News & Analysis; Reference Tools and Services; and Community Networking Opportunities.
Using all of our resources across each community we serve, we deliver measurable ROI for our sponsors through a range of turnkey services, including Research, Content Development, Integrated Media, Creative & Design, and Lead Generation.
For more information, go to www.summitprofessionalnetworks.com/.
About Judy Diamond Associates
Summit Professional Networks’ Judy Diamond Associates is a premier provider of sales prospecting and plan analysis tools for benefits brokers, financial advisors, plan providers, and carriers serving the employee benefits and retirement markets. Judy Diamond Associates offers instant access to 5500 plan data and a broad suite of analytical tools designed to support the lead generation, relationship building, market research, and plan analysis needs of benefits and retirement professionals.
About Pension Data Resources
Founded in 1987, Pension Data Resources, Inc. (PDR) is a leading provider of ERISA form 5500 Qualified Retirement and Health & Welfare Plan Sponsors data. PDR’s flagship product “ERISA Red Book Online” launched in 1999 at www.pensionplanet.com as the first web-based Software as a Service ERISA research & reporting solution. Serving the spectrum of ERISA plan providers including Financial, Recordkeeping, Accounting, Investment Advisory, Legal, Actuarial, and Trust Banking, users can easily navigate hundreds of valuable data elements found in DOL/IRS form 5500, schedules and attachments. ERISA Red Book Online replaced the iconic print version of ERISA Red Book of Pension Funds. PDR’s new proprietary “Navigator” Asset & Investment Fund Database includes comprehensive investment position data for over 90,000 ERISA qualified plans including 401k full Investment menus, asset descriptions, ticker symbols, & asset values.
Media Contacts:
Sam Sarcone
Pension Data Resources, Inc.
813-258-0628
[email protected]
Laura Brophy, Marketcom
PR 203.331.7618
[email protected]
