Acquisition/Partnership Opportunities

[EastCoast TPA]

I have several decades of experience in the TPA industry and have developed numerous relationships with financial advisers and plan sponsors throughout the years.  A few of my colleagues and I feel the time has come for us to look into acquiring an existing book of business to jump-start building our own firm.  We are primarily looking at NJ, PA, MD, DC, and VA but anywhere down the east coast through FL is desirable.  We all have extensive 401(k)/403(b)/457(b)/457(f) experience and have also worked with actuaries on DB/Cash Balance plans.

Does anyone out there know of a resource, whether it's a search firm or a listing, that can assist in finding a small TPA (or two) that would like to sell their book of business?  I have read through multiple forums and there has been a lot of great information posted by those of you that have already gone through what we are attempting.  Any insight would be appreciated - and if you just so happen to want to sell a book of business, please let me know.

[CuseFan]

what about being acquired and becoming part of a bigger national organization?

[ratherbereading]

Just don't get acquired by United Retirement Plan Consultants!! They are bad news.

[EastCoast TPA]

CuseFan - Joining a firm is an option we have discussed, but at this point there are no specific assets to be acquired.  While we have numerous contacts and a good reputations, we are at the infancy stage.  Our goal is to acquire a book of business then add to that through our contacts.

KarolineWriter - I know URPC is a large national firm but I haven't heard any horror stories.  Should I assume you are speaking from experience?

[CuseFan]

that trend will certainly continue.

good luck EastCoast

[TPAacquistion101]

Hi Richard,

I see you have a comprehensive database of TPA's.  I am in the market looking to acquire another small firm.  How extensive is your database?  Do you put people in touch with potential buyers?

[SM]

An alternative to acquiring a firm is to work with a company that creates a private label for your firm.  We provide daily valuation and third party administration for a couple of banks and the clients don't know we exist.  The website and statements will have your information and logo and we can be your back office.  No capital requirement or employees to manage.  

If you are interested, give me a call at 646-651-1975.  

Scott