New York-based RiXtrema has acquired Novato, Calif.-based Larkspur Data, according to an announcement from the two companies.
The deal will combine RiXtrema’s risk and qualified plan analytics capabilities with Larkspur’s targeted data and intelligence services on more than 500,000 retirement plans.
As a result, RiXtrema’s 401kFiduciaryOptimizer prospecting tool for plan advisors will enjoy a jolt of data to help advisors conduct financial and legal diagnostics on 401(k) and 403(b) plans.
“Acquiring Larkspur was a no-brainer decision for us,” said Daniel Satchkov, founder and president of RiXtrema, in released comments. “Not only will advisors be able to show significant plan savings using 401kFiduciaryOptimizer algorithms, but Larkspur’s data will enable them to produce complete financial and legal diagnostics for any plan, including non-audited ones.”
RiXtrema will also launch Larkspur Executive, a dataset of plan executive contact information, social media profiles and other publicly available data on “one million executives at hundreds of thousands of plans,” according to the announcement.
Robert Morris, COO of Larkspur, will join RiXtrema to lead business development.
Other details of the acquisition were not announced.