AIG Valic, a national provider of retirement plan services to for-profit and not-for-profit education, health-care, and government organizations, announced Wednesday that it had bought certain assets of Acumen Financial Group from KPMG LLP.
Terms of the deal for Acumen, a provider of financial and retirement planning technology tools to financial services companies, were not disclosed.
Acumen creates technology to let large organizations communicate highly customized information to employees and other constituents in print; electronic; or dynamically interactive, Web-based formats. The company has been the financial planning software provider to Valic's national sales organization through AIG Valic's registered investment adviser, Valic Financial Advisors Inc., since 2000. It is to be renamed AIG Acumen.
Houston-based AIG Valic is a leading retirement plan service provider in the United States. It serves 28,000 client groups and more than two million plan participants. It is a subsidiary of American International Group Inc.
