This is our second year participating in the PlanSponsor Recordkeeping Survey and we are pleased to have made the Top Ten List of firms as measured by asset growth. Unlike 8 of the 9 other firms on this list, we managed this feat without any acquisitions, but by winning new clients and retaining our existing clients. It is quite an accomplishment for us – and a team win! Our growth is the result of constantly providing top quality services to our clients who, not only stay with us long term, but recommend us to others.
Our profile in the survey can be found here Northwest Plan Services, Inc. In the 2015 survey we climbed five spots from number 43 to number 38 overall among national recordkeepers. If we were to eliminate the big bundled providers who are in the recordkeeping business only to gather assets (mutual funds, insurance companies, banks, broker dealers) then we are among the Top 10 National Independent Recordkeepers.
Given the current winds in Washington, we expect that the marginal attractiveness of the retirement plan recordkeeping business will decrease for all of the big bundled providers. This is good for NWPS, for our independent competitors, and for the industry as a whole.