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Interview with Tim Wulfekuhle & Scott Merriman, "Northwest Passage"

NWPS has been referred to as the “largest recordkeeper nobody has heard of”—though the retirement plan recordkeeping, administration, actuarial, consulting, compliance and participant services firm today provides support with a fully open architecture approach to more than 1,100 companies with 425,000 participants and $45 billion in retirement savings across a wide range of organizations. Their size is a testament to their approach to the marketplace. Pure conflict-free solutions designed with a singular purpose of servicing advisors and their clients better than any of the bundled providers they compete with in the marketplace.

NWPS serves and supports plans in a wide variety of sectors, including corporate, non-profit, Taft-Hartley, religious organizations, and tribal groups. They currently support managed account services, and offer a Pooled Employer Plan (PEP), expanded from an already established Multiple Employer Plan (MEP). The firm, a wholly owned subsidiary of Raymond James since December 2020, remains an independent business channel of that firm.

As the recordkeeping industry undergoes another wave of consolidation, NAPA Net sat down with NWPS CEO Tim Wulfekuhle and Scott Merriman, Managing Director—Financial Advisor at RBC Wealth Management, to talk about their partnership, consolidation’s impact(s), and the power of a customer-centric relationship.

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