Strongpoint Partners, a tech-enabled retirement services platform catering to small- to mid-sized businesses, has announced a new partnership with Cash Balance Actuaries. This strategic alliance aims to further enhance Strongpoint’s retirement services by incorporating Cash Balance Actuaries’ expertise in Cash Balance and Defined Benefit retirement solutions.
Partnership Overview
- About Strongpoint Partners
Strongpoint is known for its integrated services, which include third-party administration, recordkeeping, payroll, and HR solutions. The company has established itself as a leader in providing retirement solutions tailored to meet the specific needs of its clients. - About Cash Balance Actuaries
Cash Balance Actuaries specializes in Cash Balance and traditional Defined Benefit retirement solutions, offering both B2B and B2B2B services. The firm has built a strong reputation for providing high-quality actuarial services and retirement outsourcing for Defined Contribution TPA firms.
Strengthening Retirement Services Expertise
- Expanding Service Offerings
Danny Hest, CEO of Strongpoint, emphasized the value that Cash Balance Actuaries brings to the partnership. “Adding Cash Balance Actuaries will bring additional expertise, more training capacity, and the unique B2B2B service model that has made CBA a great partner to many other retirement TPAs,” said Hest. - Deepening Expertise in Retirement Plans
The partnership expands Strongpoint’s capabilities in Cash Balance, Defined Benefit, and combo retirement plans. The growth in demand for these services is matched by the enhanced expertise offered by Cash Balance Actuaries.
Shared Values and Vision
- Service-First Approach
Charlie Steingas, Founder and President of Cash Balance Actuaries, highlighted the alignment between Strongpoint’s principles and those of Cash Balance Actuaries. “At the core of Strongpoint is their operating principles, which always prioritize serving the needs of their clients first,” said Steingas. This service-first mentality resonates deeply with Cash Balance Actuaries’ mission. - Commitment to the Retirement Industry
Both companies share a commitment to serving the entire retirement industry, offering solutions for both large independent TPAs and smaller retirement firms. “We believe in serving all of the retirement industry, and Strongpoint is aligned with that,” Steingas added.
Growth and Client Impact
- Serving a Larger Client Base
With the addition of Cash Balance Actuaries, Strongpoint now services more than 10,000 clients, including those requiring custom-designed Cash Balance, Defined Benefit, and combo plans. This partnership strengthens Strongpoint’s position as a leader in customer-centric retirement plan strategies. - Collaborative Growth
Within just 72 hours of joining Strongpoint, the team at Cash Balance Actuaries had already started collaborating with other partners, discussing strategies for expanding their CB/DB and combo plan offerings, and sharing best practices across the industry.
The partnership between Strongpoint Partners and Cash Balance Actuaries marks a significant milestone in the retirement services industry. By combining their expertise, both companies are poised to provide an even broader range of high-quality, customized retirement solutions, reinforcing Strongpoint’s mission to create a stronger, more robust retirement services marketplace for businesses across the nation.
