Q1 2023 Strongpoint Partners Business Update

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 several updates from companies under its umbrella of brands in the first quarter of 2023. 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.

“Following last year’s transformational growth, we are focused on expanding and investing in our partners, products and services throughout 2023,” said Danny Hest, Chief Executive Officer of Strongpoint. “We are committed to ensuring that we continue to provide the highest quality retirement, payroll, and human experience management services for our growing customer base, while pursuing a relentless passion for innovation.”

Strongpoint Partners is pleased to share the following updates for Retirement Strategies Group, Jocelyn Pension Consulting and HowardSimon.

Retirement Strategies Group

Retirement Strategies Group (RSG) has been recognized as a Top-Tier third party administrator (TPA) by John Hancock. The rating recognizes RSG’s continued plan growth and plan retention rate of 98.7 percent, including a plan asset retention rate of 99.8 percent compared to the industry average of 84 percent.

“We are honored to be recognized as a Top-Tier TPA partner of John Hancock,” said Todd Barker, Principal and Director of New Business at RSG. “For over a decade, John Hancock has been one of RSG’s leading Recordkeeping partners. This Top-Tier recognition illustrates that it is possible to achieve significant growth while continuing to prioritize customer service and client needs above all else.”

“This recognition is a testament to the phenomenal relationships our team has built with John Hancock and the numerous leading investment advisors across the greater southeast who use their platform to serve our mutual clients,” continued Toni Superneau, General Manager at RSG. “We are proud of the work our staff does to give our clients confidence that their plan is designed, administered and managed with the best interest of their business and employees in mind.”

Jocelyn Pension Consulting

Nick Jocelyn, Principal of Jocelyn Pension Consulting, has been appointed to the Schwab Retirement Business Services Trust & Custody Advisory Board. As a board member, Jocelyn will be responsible for assisting Schwab Retirement Business Services to develop, enhance, and deal with planned or existing Schwab products and services to better meet the needs of its clientele. Jocelyn Pension Consulting has also been a member of the Schwab Retirement Network for over a decade and has a proven track record of designing solutions that meet the needs of their customers, regardless of the complexity of the plan design demands.

“Over the years, Schwab has been an incredible partner, and I am humbled by the opportunity to give back to the company by joining the Schwab Retirement Business Services Trust & Custody Advisory Board,” said Jocelyn. “I look forward to representing Jocelyn Pension and Strongpoint, and providing strategic insights, guidance and concepts for tools and services that will further our ability to collectively serve both our customers and the broader marketplace. We work every day to ensure our customers receive the best service and resources, and this role will further ensure our customers’ needs are well represented throughout Schwab’s strategic initiatives.”

HowardSimon

HowardSimon has begun utilizing the Strongpoint plan administration infrastructure, built in partnership with Salesforce. The infrastructure aims to streamline workflows, improve cross-team communication, better enable seamless data integration and ultimately improve transparency, accuracy and compliance for customers. While still in beta testing, early results illustrate that the ability to serve customers and connect with partners through one single pane of glass - from first interaction through a lifetime of customer service, across payroll, human experience management and retirement administration - is providing significant value to HowardSimon’s stakeholders, including administrators, partners and customers.

“Utilizing Salesforce enables our team to seamlessly integrate payroll, HR and retirement administration services, which increases accuracy and prepares us for a future of auto-enrollment, auto-increases and increased regulatory compliance as the Secure Act 2.0 regulatory framework goes into effect,” said Brad Simon, Chief Operating Officer at Strongpoint. “This platform will provide our employees with a unique toolset that is more adaptive, and adaptable, to the ever-increasing complexity of modern retirement administration. As an added benefit, the platform offers greater transparency and interoperability for our clients that leverage multiple services from across our retirement administration, payroll, and human experience management product portfolio.”

To learn more about Strongpoint Partners, please visit www.strongpointpartners.com or email info@strongpointpartners.com.

About Strongpoint Partners

Strongpoint Partners is a tech-enabled financial services platform that provides third party retirement administration (“TPA”), payroll, HR, and recordkeeping to small-and-medium businesses (“SMB”). Headquartered in Chicago, Illinois, with offices in Riverwoods, Illinois, Boulder, Colorado, and Northern California, Strongpoint combines an integrated software platform for outsourced retirement and payroll services alongside a relentless passion for service and innovation. For more information, please visit: www.strongpointpartners.com.

About Shore Capital Partners

Shore Capital Partners, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services and Real Estate industries. Shore supports management partners with capital, business development expertise and industry knowledge to accelerate growth, fund acquisitions and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.