A family of operating companies delivering recordkeeping, third-party administration, and trust services to financial advisors and SMB employers nationwide. Conflict-free, open architecture, built for ERISA and non-ERISA plans alike.
Founded in 2001 by tax & ERISA attorneys at Dilworth Paxson, Fiduciary Services Group (FSG) has grown both through organic build and disciplined M&A into a leading independent retirement services platform. We serve financial advisors and their SMB employer clients with a conflict-free, open-architecture model spanning both ERISA (401(k), DB) and non-ERISA (403(b), 457) plans.
Our family of operating companies — PCS Retirement and Aspire for recordkeeping, DWC - The 401(k) Experts for plan administration, and AdvisorTrust for trust & custody — share one platform, one back office, and one purpose: to make retirement plans easier for the people who sell, sponsor, and participate in them.
FSG is now in its second round of private equity ownership by partnering with Lee Equity Partners in 2024 following a seven-year run with LLR Partners, and continues to grow through both inorganic acquisitions and selective recordkeeping mandates from leading asset managers.
Each business serves a distinct part of the retirement plan value chain — recordkeeping, administration, and trust services. Together they share a centralized operating model, shared technology, and a national footprint.
Independent, conflict-free recordkeeping serving financial advisors and SMB employers. PCS Retirement anchors the ERISA (401(k), DB) side; Aspire — acquired in 2019 — extends our non-ERISA (403(b), 457) scale through an open-architecture platform.
Flexible end-to-end third-party administration and 3(16) fiduciary services for plans of every type and size, and with any recordkeeper. Includes the Beacon Benefits (2025) and Future Planning Associates (2026) acquired TPA businesses.
FSG's trust services arm, established in 2013. Provides a streamlined single-point-of-contact model for payroll processing, distribution, and reconciliation alongside full directed-trust and custody capabilities.
Our operating companies deliver four core services that plan sponsors, advisors, and recordkeeping partners can mix and match — bundled, unbundled, or co-sourced.
Participant-level retirement plan recordkeeping built on modern technology. Streamlined payroll integration, comprehensive workflow, and effective participant education across all plan types.
Flexible, end-to-end TPA and 3(16) fiduciary services for all plan types. Conflict-free, open-architecture support backed by a national team of credentialed retirement plan specialists.
Full-service directed-trust and custody offering. Single point-of-contact for payroll processing, distributions, and reconciliation — with enhanced reporting and seamless platform integration.
FSG is the recordkeeper of choice for leading asset managers' 403(b) and non-ERISA businesses — including Lord Abbett (2020), IPX Retirement (2023), and Franklin Templeton (2023).
FSG is led by a tenured management team with decades of combined experience across recordkeeping, plan administration, technology, and corporate development.
Scott joined FSG as CEO in 2024 alongside the company's partnership with Lee Equity Partners. He leads the firm's next phase of growth — accelerating organic expansion and integrating acquired TPA, recordkeeping, and trust businesses into a single, scalable platform.
Mike joined PCS Retirement as CFO in 2021 and now serves as President & CFO, overseeing finance, tax, treasury, risk, and people operations across the platform. He was previously CFO at eOriginal, Revitas, Quintiq, and Honeywell Scanning & Mobility, after starting his career as a Manager at PwC. BS in Finance & Accounting, Franklin & Marshall.
Emily leads PCS Retirement's people and culture function — overseeing talent, HR business partnership, and organizational development across the platform. She previously held senior HR roles at Reliance Standard Life Insurance, GeoBlue, The Access Group, and Mannington. MBA, Temple University; SHRM-CP and PHR certified.
Kumar leads technology strategy and engineering at PCS Retirement. He brings over three decades of experience architecting, designing, and securely implementing complex business and technology solutions — most recently as Chief Enterprise Architect at The Vanguard Group, with prior leadership roles at Moven, Vanguard, Chariot Solutions, SEI Investments. MS in Computer Engineering, Villanova University.
Jordan leads product strategy and roadmap across the FSG family of companies. A 20+ year veteran of PCS Retirement, he previously served as Chief Revenue Officer and led the firm's Strategic Account Management function — bringing deep institutional knowledge and direct experience with the advisor and plan sponsor needs that shape today's product roadmap.
Janis leads FSG's legal strategy and oversees the Legal function. She brings more than 25 years of legal leadership experience across retirement services, ERISA, investment advisory, and financial services — most recently in a senior legal role supporting retirement and regulated financial businesses, partnering with executive leadership on regulatory strategy, fiduciary governance, risk management, and growth initiatives.
Christian leads FSG's programmatic M&A strategy across the family of companies. He brings 20+ years of corporate development experience in PE-owned and publicly traded firms — previously VP of Corporate Development & M&A at Ascensus, with prior roles at Broadridge and Dataprise. MBA, Cornell Johnson; BS, Rider University. Active in the Transaction Advisors Institute.
Melissa leads marketing and communications across the FSG family of companies — shaping brand, demand generation, and product marketing for PCS Retirement, DWC, AdvisorTrust, and Aspire. She joined PCS in 2020 to build out the marketing function, after serving as VP at an RIA.
FSG and our operating companies show up where the retirement industry gathers — speaking on panels, demoing platforms, and meeting plan sponsors, advisors, and prospective partners in person.
Advocating for retirement plan policy alongside Capitol Hill leaders and industry peers.
Visit the FSG team at booth 305 — open-architecture recordkeeping built for fee-based advisors.
Aspire and PCS leadership presenting on 403(b), 457, and non-ERISA open-architecture recordkeeping.
DWC consultants leading four sessions on plan design, 3(16) fiduciary services, and compliance.
Christian Fulmino led a panel on TPA consolidation strategies. 1,000+ advisor meetings logged.
Plan sponsor–focused discussions on participant outcomes and benchmarking best practices.
DWC team connected with TPA peers and showcased the FSG platform integration model.
Strategic recordkeeping discussions and a live demo of the PCS Retirement participant experience.
Key strategic decisions and acquisitions that built FSG into the platform it is today.
Established by tax & ERISA attorneys at Dilworth Paxson, LLC, launching PCS Retirement as the firm's founding recordkeeping business.
Established as an in-house Registered Investment Advisor.
Launched in-house trust services to round out the platform.
Capital and partnership to drive organic and inorganic growth.
A large independent retirement recordkeeper and 403(b) administrator.
Selected to manage Lord Abbett's 403(b) business — further scaling non-ERISA capability.
A recordkeeper and TPA service provider that bolstered the existing offering.
Acquired IPX Retirement's non-ERISA business and won Franklin Templeton's 403(b) mandate — the largest account acquisition to date.
FSG enters its next phase of growth partnering with Lee Equity Partners. Scott David joins as CEO. DWC - The 401(k) Experts is acquired as the founding TPA platform.
Beacon Benefits joins as a DWC company. FSG divests Efficient Advisors to AssetMark to focus on core recordkeeping, TPA, and trust.
Most recent partnership — extending the platform's footprint with additional DC and DB expertise.
Whether you're a TPA owner, a regional recordkeeper, or an RIA exploring the retirement-services space, FSG is designed to be the partner of choice for high-quality businesses ready to grow.
Plug into a national platform built on modern technology, centralized operations, and a credentialed team.
Be part of what we believe will become the largest and best retirement services platform in the country.
Convert ownership into equity in a fast-growing platform — keeping skin in the game as the business compounds.
A proven private equity sponsor with a track record of building category-leading platforms in financial services.
National scale unlocks better pricing and contract terms across recordkeepers, software vendors, and service providers.
Hand off HR, accounting, and legal to FSG's centralized teams so your people can focus on serving plans.
Local relationships amplified by national reach — including coordinated marketing, brand, and lead-generation support.
If you're a TPA, recordkeeper, or trust services owner exploring a partnership, our corporate development team is the right place to start. Every conversation is confidential.
Christian leads FSG's programmatic M&A strategy across the family of companies. He brings 20+ years of corporate development experience in PE-owned and publicly traded firms — previously VP of Corporate Development & M&A at Ascensus, with prior roles at Broadridge and Dataprise. MBA, Cornell Johnson; BS, Rider University. Active in the Transaction Advisors Institute.
Tony partners with Christian on FSG's M&A pipeline — sourcing, evaluating, and executing acquisitions of TPA, recordkeeping, and trust services businesses across the country.
Whether you're early in your thinking or actively evaluating options, we'd welcome a confidential conversation about what joining FSG could look like for your firm.