The State of Our Company

by Greg W. Tschider, CEO, Newport Group

As we approach the mid-point of 2017, I’m pleased to share with you an update on our company.

Newport Group continues to focus exclusively on delivering exceptional retirement, insurance and consulting services through you, our advisor partners. And we are investing in our business, so we can provide you and your clients with the best service, technology and expertise in the industry.

Our Continued Growth

At the end of last year, Newport Group serviced more than 9,000 retirement plans, just short of one million participants, and had more than $80 billion in retirement assets under administration. Our growth last year was strong, and that continued in the first quarter of this year, with the addition of 150 new retirement plans, 31,000 new participants, and asset growth of an additional $4 billion.
Newport Group also services about $75 billion of corporate-owned life insurance and bank-owned life insurance—in fact, we service roughly 30% of the total BOLI market.
We have received gratifying recognition for our continued efforts and investments:

  • The independent technology evaluation firm DALBAR continued to rank our sponsor and participant experiences in their Top 10.
  • Plansponsor magazine named us a Top 20 provider, and ranked us #1 in non-qualified assets and in the Top 10 for DC plans in our target market.
  • From a qualitative standpoint, we received 52 “best in class” honors in Plansponsor’s annual DC survey, the second-highest number of any firm in our industry.

What’s Ahead for Newport Group?

We are very excited about our recent announcement of the acquisition of Evercore Trust Company’s institutional trust and independent fiduciary business. The addition of this talented team to Newport Group allows us to provide even more comprehensive trust solutions to you and your clients. This transaction, which is expected to close later this year, will bring our total trust assets to more than $70 billion.
In 2017, Newport Group is investing further in our unified experience for qualified and non-qualified retirement plans. This solution will help guide the advisor and client through all the necessary steps, from design and funding, to implementation and administration. To further demonstrate our commitment, earlier this year we announced new pricing for bundled 401(k)/non-qualified plans.

About AdvisorFacts

At Newport Group, we measure ourselves not just on our success and growth, but on how well we are supporting you, your clients, and your goals. In fact, our newsletter AdvisorFacts is an example of this. It’s intended for advisors, with information on all aspects of our business, designed to give you the information you want and need to help your business grow.

This current issue has stories about qualified plan design, current practices in non-qualified executive benefit plans, and an update on where federal tax reform currently stands in Washington. In upcoming issues, you can expect to read about the latest industry updates on all types of retirement plans, up-to-the-minute legislative updates, a calendar of upcoming events, Newport Group technology developments, and stories about the Newport Group team members whose expertise you rely on to help serve your plan sponsors.
We look forward to continued mutual success in 2017 and beyond.

To download a copy of this article, click here.

To view a video of Greg Tschider addressing
our 2017 Advisor Conference, click here.

The information contained herein is for informational and/or educational purposes only.

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Fiduciary consulting services are provided through Newport Group Securities, Inc., an SEC-registered investment adviser and FINRA-registered broker-dealer, and Newport Group Consulting, LLC, an SEC-registered investment adviser. Newport Group Securities, Inc. and Newport Group Consulting, LLC are affiliates of Newport Group, Inc. All securities transactions are provided through Newport Group Securities, Inc., in its role as broker-dealer. All fiduciary consulting services are provided through the registered investment advisers. When offering variable insurance products, Newport Group Securities, Inc. acts solely in its capacity as a broker-dealer. Trust and custody services provided by Newport Trust Company, a New Hampshire state chartered trust company and wholly owned subsidiary of Newport Group, Inc.