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NWPS + CDM Retirement Consultants

NWPS + CDM Retirement Consultants

To:  NWPS Community
Fr:  Tim Wulfekuhle, CEO
Re: CDM Announcement

I wanted to follow-up on the recent announcement that NWPS has acquired CDM Retirement Consultants.   We are very happy to be working with Chip Earle, Virginia McGinnis and the entire CDM team, and are confident that this combination will bring benefits to both of our firms, our clients, and our service partners.

We were interested in combining with CDM for a few reasons.  First, we were impressed with Chip and Virginia individually and with the company they have created.  CDM shares our commitment to providing service of the highest quality to all clients and has assembled a high-performing staff that supports this commitment.  CDM’s service team structure is nearly identical to NWPS’.  Our firms are very complementary to each other and combined, we are able to serve clients and plan participants across the country.  We also liked the fact that CDM was not in the investment business.  We believe that the unbundled service structure is best for plan sponsors and participants and we have no interest in cross selling investment services to our clients.

Our combined organization has 60 staff members, providing services to over 800 retirement plans, representing 180,000 participants and over $10 billion in plan assets.  This scale will allow us to better deliver services across multiple platforms and provide service solutions for clients ranging from start-ups to Fortune 500® companies.  This will benefit all of our clients as it allows us to spread technology upgrades over a larger business base, freeing up more technology dollars while increasing what we get for spending, all without upsetting the service delivery model that has made both firms successful.

It is natural to wonder what is going change due to this combination of firms.  I want to assure you that we have no plans to lay off staff in either organization, consolidate operations in one office, reconfigure the service delivery model, or take any other actions that would change the way you work with us or change the people you work with.  We are partnering with CDM because we like the business, not because we think we can come in and improve it by changing it.  We trust you will see this commitment in our actions (or lack thereof) both immediately and on-going.

In conclusion, NWPS and CDM are both here to continue the high level of service you have come to expect from us without interruption