Strongpoint Partners Announces Partnership with Cash Balance Actuaries

CHICAGO, IL — December 30, 2024 – Strongpoint Partners (“Strongpoint”), a tech-enabled retirement services platform serving small- to mid-sized businesses with integrated retirement third-party administration, recordkeeping, payroll, and HR solutions, announced a new partnership with Cash Balance Actuaries, a leader in B2B and B2B2B Cash Balance and traditional Defined Benefit retirement solutions. This alliance furthers Strongpoint’s commitment to providing a suite of services that can meet any client’s retirement needs, delivered by the best experts in the industry, and serviced by local experts who understand the specific demands of their customers and their marketplace.

“Across our partner brands, we have substantial depth of expertise in Cash Balance, Defined Benefit, and 401(k)/Defined Benefit combo plans, and given the explosive growth we’ve seen in this space in the past few years, it’s impossible to have enough breadth of expertise to meet the market demand,” said Danny Hest, CEO of Strongpoint Partners. “Charlie (Steingas, Founder and President of Cash Balance Actuaries) and his team have built an incredibly impressive organization that fosters some of the best talent and depth of expertise anywhere in the industry, with a breadth that has allowed them to serve the broader needs of the retirement industry. While we’ll continue to service Cash Balance, Defined Benefit, and combo-plans within each of our brands, adding Cash Balance Actuaries will bring additional expertise, more training capacity, and the unique B2B2B service model that has made CBA a great partner to many other retirement TPAs,” continued Hest.

“What stood out to me the most about Strongpoint Partners is that this is genuinely a service-first organization that cares about people,” said Steingas. “It was evident that the core of Strongpoint is the values that are their operating principles – and all of those principles ultimately point back to serving the needs of their clients, be that internal or external, and having a great employee culture. As someone who places only his employees above his clients, finding an organization built on the same principles, that shares my passion for retirement services and for the difference we can make for our customers and their retirement needs, this partnership ultimately felt like an opportunity that made so much sense for me to continue to grow my business.”

Cash Balance Actuaries will continue to provide actuarial services and full Cash Balance/Defined Benefit outsourcing to dozens of retirement TPA firms across the industry.

“I love Strongpoint’s mission statement of ‘making retirement work for everyone’ because it aligns so well with what we’ve built here at Cash Balance Actuaries. In exploring different options for a partnership, some firms we talked to wanted to take us out of the marketplace and make us exclusive, but that’s not who we are. We believe in serving all of the retirement industry, and Strongpoint being aligned with that model was a huge selling point for us,” continued Steingas. “Strongpoint is encouraging us to expand our B2B2B market because they know that a robust retirement services marketplace is better for everyone.”

With the addition of Cash Balance Actuaries, Strongpoint Partners now services more than 10,000 unique clients across its lines of business, including thousands of custom-designed Cash Balance, Defined Benefit, and combo-plans. Strongpoint is proud to be one of the industry leaders in custom-built, customer-centric retirement plan strategies.

“We constantly reiterate that our people are our greatest strength, and with every new partner that joins, it makes all of us better,” continued Hest. “It was less than 72 hours after the Cash Balance Actuaries team joined before we had other partner Presidents reaching out to Charlie to discuss strategies for expanding their CB/DB and combo plan offerings, as well as looking at ways to collaborate on training, administrative best practices, and actuarial development. We couldn’t be more excited to welcome Charlie and the team at Cash Balance Actuaries to the Strongpoint family or be more grateful for how much they’re leaning into what it means to be Stronger Together.”

About Strongpoint Partners

Strongpoint Partners is an Inc. 5000 recognized fast-growing, tech-enabled retirement services platform serving small- to mid-sized businesses with integrated retirement third party administration, recordkeeping, payroll, and HR solutions. 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”), Retirement Planners and Administrators (“RPA”), Pension Financial Services (“PFS”), Pollard & Associates, Carlson Quinn, SI GROUP, Retirement Planning Consulting Group (“RPCG”), Karel-Gordon & Associates, and Cash Balance Actuaries, 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 Cash Balance Actuaries

Cash Balance Actuaries specializes in the design and administration of small to medium sized Defined Benefit Plans including Cash Balance Plans. Our mission is to provide well-structured retirement plans to all profitable businesses around the country, and to be the first choice of employment for the best and brightest actuaries and consultants.

The defining characteristic of Cash Balance Actuaries is the high quality of employees who provide the best service to our clients. And it all starts at the top with Founder and President Charlie Steingas, EA, MSEA, MAAA. He possesses a unique ability to communicate complex technical issues to clients in a simple, easy-to-understand way. Clients who understand their pension plans are much more likely to appreciate them.

Along with the best employees, we seek to partner with the best clients from around the country. Everything is done online whenever possible, so we help our clients minimize the paper required to sponsor a plan. We pride ourselves on being available to answer our clients' questions with accurate and creative solutions all while making sure the plan still meets their needs of being easy-to-understand and administer.

For more information, please visit our website at www.cashbalanceactuaries.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. From 2020-2023 Shore received recognition from Inc Magazine as a 4x Top Founder Friendly Investor and by Pitchbook research for being the global leader in Private Equity total deal volume. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has over $7 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services.

For more information, including with respect to these awards and investment platforms, please visit: www.shorecp.com.