NPPG’s Acquisition of Oriental’s Retirement Plan Record Keeping and Third-Party Administration Line of Business Expands Employee Benefit Services Outside of the Continental United States
Shrewsbury, NJ – March 15, 2023 – National Professional Planning Group, Inc. (“NPPG”) announces the acquisition of Oriental Pension Consultant Inc. and Oriental Bank’s (collectively, “Oriental”) retirement plan record keeping and third-party administration line of business. Oriental Bank is an FDIC-insured Puerto Rico-chartered commercial bank and Oriental Pension Consultants, Inc is an affiliate of the Bank. Oriental offered Record Keeper and Third-Party Administrator services to qualified retirement plans in the United States and Puerto Rico for over 30 years.
“Our latest acquisition provided us the opportunity to increase our client centric product and service offering with the unique discipline in handling all aspects of Puerto Rico qualified retirement plans.” comments, Michael M. Salerno, Founder and CEO of NPPG. “We look forward to working and growing with Oriental, one of Puerto Rico’s largest and well-established companies, as they will continue to provide trustee services for our mutual clients at NPPG Record Keeping Solutions.”
Oriental’s client philosophy of developing long-term relationships by providing high-quality, professional, and personalized services backed by technological guidance and support aligns with NPPG’s vision to be the preferred employee benefits solution partner by always setting a new standard of excellence at all times.
“Our acquisition underscores our continued commitment to bring retirement plan sponsors a full-suite of comprehensive recordkeeping, administrative, and fiduciary services to reduce the burdens of retirement plan management. We are proud that our trusted services, enable our clients to focus on company growth while plan participants have an opportunity to save for their future.” Mr. Salerno adds, “We look forward to NPPG’s future with additional company announcements on the horizon.”
About National Professional Planning Group (NPPG)
NPPG and its affiliate companies offer full-service employee benefit consulting, retirement planning, actuarial consulting, recordkeeping, ERISA fiduciary services, and Pooled Plan Provider (PPP) services. NPPG handles more than $7 billion in assets and more than 7,000 plans for clients nationwide. A full suite of compliance services include ERISA 3(16) administrative fiduciary services, retirement plan third party administration including Multiple Employer Plans (MEPs), Pooled Employer Plans (PEPs) as well as overall regulatory consulting and plan correction. NPPG customizes solutions to meet the business and financial goals of their clients. NPPG’s national clientele is made up of members of the New York Stock Exchange and NASDAQ, non-profit organizations, Fortune 500 companies, government agencies, as well as small entrepreneurial businesses, associations, and Professional Employer Organizations (PEOs). For further information, contact National Professional Planning Group, Inc. corporate office in Shrewsbury, NJ at 1-(800) 340-5160.