Raymond James Financial agreed to acquire NWPS Holdings, a provider of plan administration, advisory and actuarial services.
Terms were not disclosed. According to a press release released by Raymond James on Thursday, the transaction is expected to close by year-end.
NWPS Holdings, operating as NWPS and Northwest Plan Services, manages more than $ 35 billion in pension plan assets for more than 400. 000 participants, according to the press release. A spokeswoman for Raymond James declined to provide details of her company’s pension plan business.
NWPS will continue to operate under its current name and the approximately 160 NWPS employees will remain at the company’s current locations, according to the press release. Tim Wulfekuhle, President and CEO, and the executive team of NWPS Holdings will retain their positions, with the company becoming part of the Raymond James Private Client Group, the press release said.
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Raymond James, Finance, 401 (k), NYSE: RJF, Financial Services
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