The acquisition enhances NWPS’ ability to meet growing demand for unbundled retirement and health & welfare plan services
Northwest Plan Services (NWPS), a Seattle, Washington-based retirement plans services provider has acquired Venuti & Associates (V&A), for an undisclosed amount.
Venuti & Associates was founded in 2002 in Los Altos, California.
The company offers actuarial and benefits consulting services to multi-employer, single-employer and public defined benefit, defined contribution and health & welfare plans.
Venuti & Associates provide service to over 20 client-relationships, with over 25 plans and nearly 60,000 participants.
The firm offers its services to industries such as brick, masonry & marble, metal trades, entertainment, electrical workers, hotel & restaurant, single employer plans, clerical, mining, lumber trades, transportation labourers and farming sectors.
NWPS president and CEO Tim Wulfekuhle said: “We have tremendous respect for V&A and the client service reputation the company has built. V&A’s broad-based expertise will be a great addition to the services we offer to our clients and advisors, and their actuarial practice will add depth to our current practice.
“We are very happy they are joining us, and we look forward to working with them.”
NWPS will benefit from V&A’s team specialising in retirement plans
The deal will benefit Northwest Plan Services with a tenured team of professionals from Venuti & Associates. The team also includes the company’s founder, David Venuti, who is experienced in the multi-employer trust area.
Venuti & Associates founder David Venuti said: “At Venuti & Associates, our approach has always been to put our clients and their participants first, and we are excited about the synergies and growth opportunities NWPS will bring.
“The added depth and industry experience will serve to enhance what has always been our mission: to give plan sponsors the guidance they need to provide secure, reliable retirement income and health benefits to their plan participants and beneficiaries.”
Founded in 1994, in Seattle, Washington, NWPS offers a suite of services for retirement plans with an unbundled, open architecture platform for employers to offer thousands of investment options for their employees.