The producing TPAs will create the NRP National TPA Network, the San Juan Capistrano, California-based company said in a press release.
Producing TPAs are generally aligned with small broker/dealers that do not support the retirement business, Tim O’Brien, EVP, said. By recruiting them to NRP, O’Brien told PLANADVISER.com, the TPAs can receive the retirement tools and services they need to help further develop their retirement plan business. In addition to creating a peer group of producing TPAs, the network will also be a resource for existing NRP firms who can use the services of the TPAs, he noted.
“It has always been our goal to attract the best retirement consultants in the industry to NRP and producing TPAs bring an important added element to our consulting services,’ said Bill Chetney, CEO of NRP, in a press release. “The combination of additional services for our existing firms and additional distribution opportunities for the new member firms makes this a win-win proposition for all of us at NRP.’