Deal Will Extend Foster & Foster’s Reach in the West Coast Actuarial Consulting Market
FORT MYERS, Fla.–(BUSINESS WIRE)–Foster & Foster Consulting Actuaries, Inc. a premier actuarial and health and welfare plan consulting firm based in Fort Myers, Florida, which represents over 1,000 public pension and health and welfare plans in the United States, announced today that it has completed its acquisition of California-based Bartel Associates, LLC, which has provided quality and cost-effective actuarial consulting services to public agencies for the past nineteen years.
Foster & Foster’s team of experts provide strategic guidance to a wide range of public sector organizations to help them forecast and navigate the economic perils of pension reform and other municipal cost-cutting measures that can have negative implications for millions of working men and women.
Bartel’s core business is focused in performing Other Postemployment Benefits (OPEB) consulting. This acquisition will enable Foster & Foster to broaden its OPEB consulting practice by expanding these services on behalf of a larger client base. Like Foster & Foster, Bartel also provides pension consulting services to public entities, which are part of CalPERS, one of the largest public pension funds in the world.
This deal follows a string of key acquisitions Foster & Foster has made in recent years including last year’s acquisition of Beyer Barber in Pennsylvania and Rodwan Consulting in Michigan.
“This latest acquisition significantly expands our footprint into the West Coast Market, deepens our exceptional team of actuaries, and bolsters our health and welfare plan consultants, who are experienced in public-sector pensions and Taft-Hartley markets,” said Brad Heinrichs, Chief Executive Officer of Foster & Foster. “Foster & Foster is quickly becoming a national leader in providing actuarial services to public retirement programs. We are excited to collaborate with our new colleagues to provide additional tools and resources to our growing client base.”
John Bartel, founder of Bartel Associates said, “Foster & Foster is a highly reputable firm that shares our number one mission, which is to always put the interests of clients first. We’re thrilled to join an outstanding team of actuaries who share our passion for high quality work for public sector entities and systems. I am confident our current clients will continue to see the same level of service and our employees will continue to grow under Foster & Foster’s leadership.”
About Foster & Foster
Based in Fort Myers, Florida and founded in 1979, Foster & Foster provides actuarial pension and health and welfare consulting services to public, labor, not-for-profit and private organizations throughout the country. Foster & Foster seeks to maximize the benefits that can be afforded to police officers, fire fighters, electricians, painters, teachers, ironworkers, sheet metal workers, healthcare workers, carpenters, sanitation workers, teamsters, and other municipal, county, state and Taft-Hartley members across all trades. Foster & Foster’s client base consists of members who provide the essential services that communities around the United States depend on every day. For more information about Foster & Foster, please visit www.foster-foster.com
Michael Skelly 917-364-8142