PlanSponsor Magazine just released the 2017 Recordkeeper Survey. In 2016 NWPS was the fastest growing national recordkeeper as measured by assets under administration (AUA) with an increase of 59.6% from our 2015 numbers.
NWPS has been participating in this survey since 2013, and our national ranking (measured by AUA) has moved up from our debut in 2013 at #43 to this year’s ranking of #30. Over that time we have passed up many of our better known competitors including The Standard, CUNA, Securian, PNC, Mutual of America, Pentegra and others.
NWPS is growing for a number of reasons:
- We take care of our clients. It is much easier to grow the business with very high retention. Take a look at our most recent survey results.
- Strong referral network. Clients, former clients, ERISA attorneys, auditors, etc. If you do good work, people notice and will recommend you.
- Great advisor network. NWPS has many strong, sophisticated, independent RIA partners who we work with on many plans.
- Industry trends. Recent industry focus on fiduciary best practices favors NWPS’ 100% transparent, headcount-based, fee-for-service pricing model.
- Great team: Except for #4 above, all of these growth drivers are the result of our people. NWPS consultants and analysts are committed to doing the right thing for our clients, even when it is the hard thing to do. We are committed to long-term, client-centric relationships and we are rewarded with high retention and referrals. It all flows from the team.
I would like to extend a special thanks to our team, clients, advisors and partners for trusting NWPS to serve your retirement plan needs.