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 Pension Financial Services (“PFS”), a leading retirement third-party administrator (TPA) headquartered in Duluth, GA.
The partnership with PFS expands Strongpoint’s reach and expertise throughout the Southeast United States. It also further elevates Strongpoint’s position as the leading financial services platform and growth partner for TPA founders and leaders looking to build upon their company’s legacies. 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.
Founded in 1982 by Earle Garvin, PFS brings the highest caliber actuarial and retirement planning services to more than 800 clients throughout the Southeast. With the addition of PFS to its family of brands, Strongpoint now has over 4,000 plans under administration, serves clients in more than 40 states, and manages more than $7B in total assets under administration, making the company one of the leading, fully U.S.-based TPA firms in the industry.
“For over 40 years, our mission at PFS has been to help plan sponsors create brighter futures for their employees,” said Earle Garvin, Founder and Principal of PFS. “Having the ability to navigate the retirement services industry’s ever-evolving regulatory landscape and market dynamics, without sacrificing the personalized service core to the PFS brand, was central to our decision to partner with Strongpoint. Strongpoint will not only invest in modernizing our infrastructure and maximizing our growth, but will also enable us to service our clients with the same care, accuracy and customer-centric support that has defined us since our founding.”
“This partnership has been a long time coming,” said Danny Hest, Chief Executive Officer of Strongpoint. “Earle is a well-respected leader within the industry and shares our people-first approach to serving plan sponsors and participants across the small and medium-sized business community. From the first day we put our organizational vision down on paper, we knew that Earle was the type of leader we wanted to join us on this journey. His team has been incredible throughout this process – we’re so excited by the relationships they’ve already built across the organization and are thrilled by the industry experience and expertise they will bring to Strongpoint. When your organizational ethos is ‘stronger together,’ it’s impossible to have too many good people – and Earle and his team at PFS are a very welcome addition to the Strongpoint Family!”
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 Pension Financial Services
Incorporated in 1982, Pension Financial Services brings the highest caliber actuarial and retirement planning services to over 800 clients in the Southeast. Knowing that "interest today creates tomorrow," Pension Financial Services strives to help each company we serve offer the right retirement plan to its employees, coupled with our strong administration services. Since its inception, PFS has helped companies design and administer retirement plans that help create brighter futures for their employees. And our unwavering commitment to superior service and building long-term relationships with our clients is ingrained in everything we do. For more information, please visit: www.pfs401k.com.
About Shore Capital Partners
Shore Capital, a Chicago-based private equity firm with offices in Nashville, is an investor in microcap companies in the healthcare, food and beverage, business services, industrial, and real estate industries. Shore’s strategy is to support management partners to grow faster with less risk, through access to capital, world-class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. For the third consecutive year in 2022, Shore received recognition from Inc. Magazine as a top founder-friendly investor, and by Pitchbook research for leading all U.S. Private equity firms in total deal volume. Shore targets investments in established, successful private companies with premier management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has over $6 billion of assets under management and in additional investment platforms to which it provides business and operational services. For more information, including with respect to these awards and investment platforms, please visit: www.shorecp.com.