Press Release

Blue Ridge Associates Acquires Qualified Retirement Plans Services (QRPS), a Leading Provider of Administration Solutions for Qualified Retirement Plan Benefits in North Carolina

Issued by Blue Ridge Associates

Apr. 16, 2025

CHARLOTTESVILLE, Va. -- Blue Ridge Associates ("Blue Ridge"), a leading provider of administration solutions for employer-sponsored, tax-advantaged equity compensation and savings benefit plans, announced today that it has acquired Qualified Retirement Plan Services, Inc. ("QRPS"). The addition of QRPS further expands the Blue Ridge service offering, resource capacity, technical expertise, and geographical coverage, specifically in their 401(k) & Pension business line of services.

"At Blue Ridge, there are three things that make us different in the retirement consulting space: superior client care, unparalleled industry expertise and advanced technology. The addition of QRPS will strengthen all three of these market-leading differentiators," said Matt Slyter, Group President of the 401(k) & Pension practice at Blue Ridge. "This fact, coupled with the long-term relationship we have had with Forrest and the skills and experience of the entire QRPS team, made it abundantly clear they were the perfect partner to advance our strategic and growth objectives."

Established in 1988, QRPS has been a market leader in administration and compliance solutions for all types of employer-sponsored qualified retirement plans, serving over 1,000 plans covering over 31,000 participants and over $2 billion in assets under management across the small and middle-market business community.

"When it came time to plan for the future of our business, I wanted to be thoughtful about the process to secure our legacy and provide a stable succession plan for our team members," said Forrest Knowles, President of QRPS. "Blue Ridge is a natural choice. Their values align with ours, and I'm confident that together we will take our business to new heights. I trust the team at Blue Ridge to honor what we've built and lead us into the next chapter of our success."

About Blue Ridge Associates

Serving since 1966, Blue Ridge is a leading provider of administration and compliance solutions for employer-sponsored ESOP and qualified retirement plan benefits serving 8,700 plans covering over 875,000 participants. The Company offers a full suite of tech-enabled services, including recordkeeping, administration, compliance, consulting, communication, and education for tax advantage employer sponsored ESOP plans, as well as all types of qualified retirement plans. The Company's integrated, best-of-breed delivery model, proprietary technology platform, and established network of strategic distribution partners, make it easy for employers to provide wealth building benefits to employees.

About QRPS

Founded in 1988, QRPS is an independent third-party administrator of qualified retirement plans located in Raleigh, North Carolina. Today, QRPS provides expert service to more than 1,000 plan sponsors and more than 31,000 plan participants, with more than $2 billion assets under management. QRPS has grown by delivering on the promise of individualized service, while also investing in highly efficient technologies. It is this high-touch, high-tech approach that has made QRPS a sought-after partner for financial advisors, technology providers, and most importantly, plan sponsors.

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