In the retirement plan industry, acquisitions aren’t just about numbers—they’re about narrative. And with its seventh deal in two years, July Business Services (JULY) is writing a very clear one: they’re not just growing, they’re building something with intention.
JULY finalized its acquisition of Employee Incentive Plans (EIP), a respected small to mid-sized 401(k) service provider. This wasn’t a shotgun wedding. By all accounts, the match was driven as much by cultural alignment as it was by strategic expansion.
But this deal wasn’t just about absorbing another recordkeeper. JULY also folded in the retirement advisory practice of AtlasMark Financial, Inc. into Expand Financial (EXPAND), its fiduciary advisory subsidiary. This move brings more than clients—it brings capabilities. EXPAND now becomes a stronger fiduciary partner, promising a model grounded in ERISA standards and backed by scalable tools for growth-hungry advisors.
That last part is key. Too often, advisors are left stuck between the ever-growing compliance burden and a service model that was built for 2005. With this merger, JULY seems to be making a play: let’s give advisors what they actually need—compliance infrastructure, investment management, and a support system that doesn’t force them to choose between growth and risk.
From a business perspective, JULY now serves over 10,000 plans and oversees $18 billion in assets under administration. But more interesting than the numbers is the structure they’re building. With EXPAND offering ERISA-based fiduciary services and a pipeline of culturally aligned firms joining the fold, JULY isn’t just scaling—they’re sculpting.
There’s a lesson here for the rest of the industry. Growth for growth’s sake is a vanity metric. But growth with purpose? That’s a competitive advantage.
Let’s see if others are paying attention.
