Benefit Commerce Group (BCG), an Alera Group company, announced that Fraser Group, a retirement plan services firm based in Scottsdale, has joined Alera Group. BCG provides diversified services across employee benefits, commercial property and casualty insurance, and retirement plan services.
Fraser Group is led by retirement industry leader George Fraser. Fraser and his team will continue in their existing roles and combine operations with BCG’s Retirement Plan Services Division.
“George Fraser is one of the leading lights in the retirement plan industry, and we’re thrilled to welcome him and his team to Alera Group Retirement Plan Services,” said Christian Mango, Executive Vice President and National Practice Leader, Retirement Plan Services, at Alera Group.
Fraser is known nationwide for retirement plan innovations, including his PENNIES ON THE DOLLAR® model at the core of academic research published by acclaimed behavioral economist, Shlomo Benartzi. As much as his innovations, George is known for his enthusiasm around participant education.
“The addition of Fraser Group and George’s outstanding stature within the industry are significant enhancements to BCG’s Retirement Plan Services Division,” said Scott Wood, Managing Partner and Principal of BCG. “We know that utilizing the concepts that George and his team have developed will provide the very best service and support to our existing clients and our prospective new clients. BCG’s Retirement Plan Services Division will now include both BCG 401(k) Advisors and Fraser Group to address the retirement plan needs of employers of all sizes.”
BCG 401(k) Advisors was formed in 2022 when Alera Group acquired a retirement plan practice led by Jeff Anderson, another industry veteran. Anderson, President of BCG 401(k) Advisors, said, “There’s no one who’s more focused on truly helping the retirement plan participant than George Fraser. George and his team will be an integral part of our overall growth strategy with a keen eye on improving participant outcomes.”
Fraser and his team will continue serving existing clients as well as growing their practice across a wide range of plan sizes.
“My team and I have built our practice by focusing on trying to do the right thing to change the dynamic for retirement plan participants,” said Fraser. “That includes cutting the jargon and talking in ways people connect with. It also means helping plan sponsors craft exemplary plans they can be confident about.
“We looked at various scenarios for growing our practice’s reach, and Alera Group Retirement Plan Services was clearly the best fit. There aren’t many places where an advisor can walk into a firm of any size—from a small business to a global enterprise—and offer best-in-class solutions. Most importantly, we share a dedication to doing the right thing to help people,” Fraser added.
Terms of the transaction were not disclosed.
