Sep 08, 2020
PLANSPONSOR magazine, a premier monthly publication reporting on the retirement industry, has again ranked Newport among the nation’s largest and fastest growing defined contribution recordkeepers. Of the 53 companies featured in the magazine’s annual “Recordkeeping Survey,” Newport was ranked #17 in overall plan assets—up one position from the previous year. We were also ranked in the Top 10 for a second consecutive year for most defined contribution plans added in 2019.
The survey found us firmly established among top recordkeepers—ranking #16 in overall plans and #20 in overall participants, the first time we have been included in the Top 20 in this category.
In addition, we were named a Top 10 leader in several other categories, including:
- Non-Qualified Plans: Newport is the industry leader in offering unbundled non-qualified plan services through advisors, and we were ranked #2 for overall non-qualified assets and #2 for total non-qualified plan participants.
- 403(b) Plans: Newport continues to be a leading provider of 403(b) plans, ranking #3 for total ERISA plans, #4 for total non-ERISA plans, and #10 for total ERISA plan assets (the first time Newport has been in the Top 10 in this category).
“These rankings recognize Newport’s important position in the retirement services market, and further solidify our position as one of the largest independent recordkeepers working through financial advisors,” CEO Greg Tschider said in an announcement to employees. He added that the results reflect more than just our growth, but also “our commitment to our clients and retirement plan participants.”
PLANSPONSOR published its survey results in print and online at plansponsor.com.