Insurance broker and wealth management consultant National Financial Partners Corp. announced Tuesday that 401(k) Advisors Inc., a wholly owned subsidiary of NFP, has been rebranded NFP Retirement.
Founded by Vince Giovinazzo and President Nick Della Vedova, the newly rebranded NFP Retirement, based in Aliso Viejo, California, has become one of the largest retirement plan advisory firms in the U.S., consulting on over 700 plans with more than $30 billion in assets under advisement as of June 30.
“Nick and Vince have solidified a well-respected industry reputation for 401(k) Advisors, which will continue as NFP Retirement, while also taking advantage of the NFP brand and resources to aggressively bring their services to an even larger audience,” Ed O’Malley, president of NFP Corporate Client Group, said in a statement. “We’re excited about the significant opportunity NFP Retirement has to capitalize on the need for retirement plan solutions and advice that can help maximize positive retirement plan outcomes.”
NFP provides employee benefits, property and casualty, retirement, and individual insurance and wealth management solutions. NFP says that the rebranding is part of a “broader” NFP initiative to bring all the resources, experience and expertise within its retirement plan services unit directly to plan sponsors and participants.
NFP Retirement provides best-in-class consulting services for retirement plan sponsors by utilizing cutting-edge, proprietary technology and systems for investment due diligence, provider benchmarking, plan design and fiduciary education through a team of high-end consultants across the country.
“Our team has had a longstanding relationship with NFP, and the 401(k) Advisors name has only partially reflected our retirement plan expertise and the resources available to us,” said Della Vedova and Giovinazzo in a statement. “NFP is a broadly diversified financial services firm whose leadership shares our commitment to excellence and innovation within the changing retirement plan landscape.”
As of year-end 2013, NFP Advisor Services had a total of 1,275 registered advisors, with an average annual gross production per rep standing at $298,791.
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