CHICAGO--(BUSINESS WIRE)--Strongpoint Partners (“Strongpoint” or the “Company”), a tech-enabled financial services platform focused on third-party administration of retirement plans, recordkeeping, payroll and HR solutions for SMBs, today announced a new partnership with Retirement Planners and Administrators (“RPA”), a leading retirement third-party administrator (TPA) headquartered in Falls Church, Virginia.
Backed by Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm focused on microcap investing, Strongpoint combines an integrated software platform for outsourced retirement services alongside a relentless passion for service and innovation. The partnership with RPA comes on the heels of Strongpoint’s recently-announced partnership with Retirement Strategies Group, an independent, TPA firm headquartered in New Orleans, and an exceptional year of business performance and growth in 2022.
Founded in 1969 by Hans Banziger, RPA provides cost-effective, accurate and hassle-free retirement plan compliance administration and open-architecture valuation daily recordkeeping. With the addition of RPA to its family of brands, Strongpoint now has over 3,200 plans under administration, serves clients in more than 35 states, and manages more than $6B in total assets under administration, making the company one of the leading, fully U.S.-based TPA firms in the industry.
“My father, our talented team and I have spent the past 54 years putting our all into building this business, and joining the Strongpoint family is a monumental step for us,” said Richard Banziger, Principal at RPA. “We are proud to be solidifying the legacy of RPA, and it was important to us to partner with an organization committed to building upon that legacy, not replacing it. Strongpoint has already established an incredibly strong foundation with early success and the backing of an experienced capital partner such as Shore, and we are very excited to be invested in the future success of the business.”
“Strongpoint could not be more pleased to welcome RPA into our family,” said Danny Hest, Chief Executive Officer of Strongpoint. “When building Strongpoint, we knew the importance of identifying and partnering with firms that prioritize client service and serving the small and medium-sized business community. Richard shares our passion for bringing the best firms in the industry together to create an unrivaled experience that our clients and partners can rely on. As the industry continues to adapt to constant regulatory change, including upcoming changes to state retirement mandates in RPA’s home state of Virginia, our reach, size, and concentration of experience will ensure we’re better prepared than anyone to serve the needs of small and medium-sized businesses through a continuously evolving regulatory environment.
To learn more about Strongpoint Partners, please visit www.strongpointpartners.com or email info@strongpointpartners.com.
About Strongpoint Partners
Strongpoint Partners is a fast-growing, tech-enabled financial services platform that provides third party retirement administration (“TPA”), recordkeeping, and integrated payroll and HR technology solutions for small-and-medium businesses. Strongpoint’s suite of services prioritizes accuracy, compliance, and reduction of regulatory risk for its clients, delivered by local client success teams that understand the nuances of the markets they serve. With a coast-to-coast network of leading firms including HowardSimon, Jocelyn Pension Consulting, Retirement Strategies Group (“RSG”), and Retirement Planners and Administrators (“RPA”), Strongpoint Partners combines a relentless passion for service and innovation with the experience and expertise required to make retirement work for everyone. For more information, please visit: www.strongpointpartners.com
About Retirement Planners and Administrators
RPA has proudly served the employee benefits market since its founding in 1969, leading with a customer-centric approach that helped simplify the complicated and made retirement benefits accessible to a traditionally underserved segment of the small and medium-sized business community. Located in Falls Church, Virginia, RPA works with clients across the continental US with a focus on serving the local DMV community. Having navigated the introduction of defined contribution plans such as 401(k) solutions and near-constant regulatory change for over 50 years, RPA is our community’s partner in ensuring everyone has a plan for their financial future. For more information on how we keep our clients compliant while maximizing the benefits of their retirement strategies, please visit us at www.retirementplanners.com.
About Shore Capital Partners
Shore Capital Partners, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services and Real Estate industries. Shore supports management partners with capital, business development expertise and industry knowledge to accelerate growth, fund acquisitions and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.
