REDWLLC, one of the largest and most respected certified public accounting and business consulting firms in the Southwest, has announced the formation of Alliance Benefit Group Southwest (ABG-Southwest), a separate company for retirement plan recordkeeping and third-party administration services.
The change took effect earlier this year, when all REDW team members in the group transitioned to the new organization. Its name derives from the group’s established participation in Alliance Benefit Group, a nationwide network of independently owned retirement administration firms. Collectively, Alliance Benefit Group is one of the largest retirement plan administrator networks in the country, providing administration services to more than 15,000 plans representing more than $56 billion in assets and more than one million participants.
“Creating a separate, sister company provides our current clients with the support and focus of a firm dedicated exclusively to meeting the needs of both plan sponsors and plan participants,” said Carol Cochran, REDW Principal also head of ABG Southwest. “As an independent, stand-alone firm, ABG-Southwest is able to more clearly demonstrate our commitment to provide sound advice and innovative solutions like no other retirement plan administration firm in our marketplace.”
Dennis Davis, ABG-Southwest Senior Manager, added, “The same highly skilled team of professionals in Albuquerque and Phoenix who assisted our clients under the REDW name for more than two decades are continuing to serve them. Creating the separate company simply makes it easier to create program enhancements and service offerings for clients – and assures them we are truly focused on their needs.”
“This not a merger, acquisition or other change of ownership,” Cochran noted. “In addition, this name change does not affect the accounting services offered by REDW. We expect ABG-Southwest to grow as prospective clients who need retirement plan administration services – but not the traditional accounting services offered by REDW – engage the new firm.”