Ellement Consulting Group

What Ellement Consulting Group does

Ellement Consulting Group is a privately held, family-owned Canadian financial services consulting firm established in 1996 and headquartered in Winnipeg, Manitoba. The firm delivers pension, benefits, and investment consulting alongside third-party administration (TPA) to roughly 250 client organizations across four dedicated market segments: multi-employer and union plans, corporate, public sector, and post-secondary (operated through the StudyWell Benefits sub-brand). It maintains five offices across Canada (Winnipeg, Toronto/Vaughan, Edmonton, Ottawa, and Vancouver) and reports $120B+ in assets under management and $3B+ in annual health and welfare payments and premiums under advisory.

The firm's service architecture spans three core platforms — Pension Consulting & Management, Benefits Consulting & Management, and Investment Consulting & Management — supported by modular add-ons including actuarial consulting, claims payment, recordkeeping, trust fund administration, performance measurement, manager selection and monitoring, asset mix studies, and investment policy review. A registered proprietary service mark, Plan Member Advocacy™ (PMA), adds a dedicated member-services layer. Underlying technology is described as secure platforms for enrollment, data management, claims processing, and integration, anchored by in-house actuarial and underwriting capabilities rather than by an AI-native technology stack.

Ellement monetizes through professional services fees paid directly by clients, with no external monetary ties — establishing a fiduciary-independent revenue model. Go-to-market is consultative, sales-led, and relationship-driven, executed through direct field engagement with plan administrators, HR/finance decision makers, and trustees. Pricing is not publicly disclosed and appears quote-based, consistent with bespoke enterprise engagements. The firm has no disclosed external funding, M&A, or institutional investment and operates as an independent, self-funded platform.

Name

Ellement Consulting Group

Legal name

Ellement Consulting Group

Website

https://ellement.ca

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Ellement Consulting Group is a family-owned Canadian financial services consulting firm, founded in 1996 in Winnipeg, delivering pension, benefits, and investment consulting plus third-party administration to 250 organizations across multi-employer, corporate, public sector, and post-secondary markets.

Ownership category

akta.pro rank

Product category

Pension, Benefits and Investment Consulting

NAICS

Management Consulting Services (54161), Portfolio Management and Investment Advice (523940), Pension Funds (525110), Health and Welfare Funds (525120)

SIC

Services-Management Consulting Services (8742), Investment Advice (6282), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)

akta.pro secondary industries

Employee Benefits Brokerage & Consulting (FSAEADAC), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

Keywords

• Pension consulting services
• Benefits administration
• Investment consulting
• Actuarial consulting services
• Third party administration

Headquarters

HQ city

Winnipeg

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Pension Consulting and Administration: Comprehensive pension consulting and third-party administration services including plan design, compliance, funding strategies, actuarial valuations, pension payments, and member support.
2. Benefits Consulting and Administration: Tailored benefits consulting with in-house actuaries and underwriters, third-party administration (TPA) services including recordkeeping, eligibility management, claims payment, and trust fund administration.
3. Investment Consulting: Investment consulting services including asset mix studies, manager selection and monitoring, performance measurement, and investment policy review. Compensation comes directly from clients with no external monetary ties.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Ellement Consulting Group delivers pension, benefits, and investment consulting and administration services to organizations across Canada. The firm provides plan design, actuarial valuations, regulatory compliance, third-party administration (TPA), claims payment, trust fund administration, and investment consulting including asset mix studies, manager selection, and performance measurement. Services are backed by in-house actuaries and underwriters and delivered across four market segments: multi-employer/union plans, corporate, public sector, and post-secondary institutions.

Product overview

Ellement Consulting Group is a Canadian consulting firm (established 1996) offering a unified platform of pension, benefits, and investment consulting services with integrated administrative capabilities. The core offerings include Pension Consulting & Management, Benefits Consulting & Management, and Investment Consulting & Management. These core services are supported by add-on modules including Third Party Administration (TPA) for both pensions and benefits, Actuarial Consulting, Claims Payment, Plan Member Advocacy (PMA), Trust Fund Administration, Individual Financial Services (IFS), and specialized investment services (Performance Measurement, Manager Monitoring, Manager Selection, Asset Mix Studies, Investment Policy Review). The firm serves four distinct market segments: Multi-Employer (trade unions), Corporate, Public Sector, and Post-Secondary (via the StudyWell Benefits sub-brand). The company differentiates through in-house actuaries and underwriters, offering tailored solutions rather than standardized approaches.

Differentiator

Problem solved

Functional benefit

Brands

• StudyWell Benefits: Post-Secondary Services - specialized benefit solutions for post-secondary students, ensuring comprehensive coverage that meets their unique needs.

Products and services

• Pension Consulting & Management Comprehensive consulting and management of secure, compliant retirement plans for organizations, including plan design, regulatory compliance, funding strategies, actuarial valuations, pension payments, and member support.
• Benefits Consulting & Management Tailored, member-focused benefits consulting and management backed by in-house actuaries and underwriters, covering plan design, eligibility management, claims payment, and regulatory compliance for group benefits programs.
• Investment Consulting & Management Client-centered investment consulting including asset mix studies, manager selection and monitoring, performance measurement, and investment policy review, with customized strategies aligned to client beliefs, goals, and objectives.
• Third Party Administration (TPA) - Pensions Comprehensive pension third-party administration including plan setup, documentation, member support, recordkeeping, data management, and regulatory compliance for organizational pension plans.
• Third Party Administration (TPA) - Benefits Streamlined benefits third-party administration covering recordkeeping, eligibility, regulatory compliance, member communications, claims payment, and trust fund administration with a high-touch concierge approach for organizational clients.
• StudyWell Benefits Specialized benefit solutions for post-secondary students, institutions, and administrators, ensuring comprehensive coverage that meets the unique needs of the student population through seamless technology-driven enrollment and claims processing.

Quantifiable outcome

• $120B+ Assets Under Management
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Hub International: Hub is a North American insurance brokerage with significant Canadian operations in group benefits and retirement. It overlaps with Ellement's benefits brokerage and TPA offerings but emphasizes brokerage distribution over consulting.

Broad incumbents

• Mercer (Canada): Mercer's Canadian practice delivers pension, benefits, and investment consulting at scale under Marsh McLennan. It competes directly with Ellement across multi-employer, corporate, and public-sector engagements but with significantly broader global resources.
• Aon (Canada): Aon's Canadian human capital and risk practices offer pension administration, actuarial, and benefits brokerage services. It overlaps Ellement's offerings but operates as part of a global brokerage platform with much larger scale.
• Willis Towers Watson (WTW, Canada): WTW's Canadian practice provides pension, benefits, and investment advisory across corporate and multi-employer clients. It is a direct competitor to Ellement with deeper technology platforms and broader international reach.
• Morneau Shepell (now LifeWorks / TELUS Health): Originally a Canadian pension, benefits, and HR consulting firm, Morneau Shepell was acquired by LifeWorks and then TELUS Health. Its heritage business competed directly with Ellement across Canadian pension and benefits administration.
• Arthur J. Gallagher & Co. (Canada): Gallagher operates Canadian benefits and retirement consulting practices serving mid-market and large employers. It competes with Ellement for corporate benefits and pension administration mandates with deeper insurance brokerage scale.
• Buck Global (now part of Conduent): Buck provided pension, benefits, and actuarial consulting to mid- and large-market employers in North America. Its service mix closely mirrors Ellement's, although it now operates within Conduent's broader HR services portfolio.

Direct peers

• Segal Group: Segal is a North American independent consulting firm offering pension, benefits, and investment advisory with a similar employee-owned/family-like model. It serves comparable multi-employer and public-sector clients.
• Pinpoint Partners (formerly part of Mercer): Pinpoint Partners is a Canadian-focused pension and benefits consulting firm serving mid-market and multi-employer clients. It is closely comparable to Ellement in size, vertical mix, and Canadian-only footprint.
• Eckler Ltd. Eckler is a Canadian actuarial and consulting firm specializing in pension, benefits, and investment consulting. It is one of the closest direct comparables to Ellement in size, geography, and service mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ellement Consulting Group