Aldrich Completes Sale of Aldrich Retirement Solutions to Prime Pensions, LLC

LAKE OSWEGO, OR, August 17, 2022— More than 20 years after establishing and successfully growing a thriving retirement plan administration business, the Aldrich Group of Companies has announced that it will be exiting the third party administration (TPA) market.

Aldrich Retirement Solutions (“ARS”)—a provider of retirement plan design, administration, and consulting services—has been acquired by Prime Pensions, LLC (“Prime Pensions”), an actuarial and third party administration firm with a 20-year history of providing high quality services to retirement plan sponsors. ARS is a leading provider of third-party retirement plan compliance and administration services to small- and medium-sized businesses. Key services include plan design and implementation, annual administration, consulting and other actuarial services to ensure its clients are compliant with the United States Department of Labor, IRS and other regulatory organizations.

David Strom, President of ARS, commented, “Our partnership with Prime Pensions provides meaningful resources to drive both future growth and expansion of our client base. This partnership demonstrates our commitment to providing exemplary service to our clients.”

Since the Company’s founding in 2000, ARS has been a top Oregon service provider in the retirement plan administration industry. The Company is headquartered in Lake Oswego, OR and primarily operates in the Northwestern United States. As part of the transaction, Aldrich Retirement Services’ name will change to Prime Retirement Solutions, and the team will remain in place and operate as an independent subsidiary of Prime Pensions, continuing to provide new and existing clients with the same level of support they always have, now backed by Prime Pension’s’ significant TPA business resources.

Scott Feit, CEO of Prime Pensions, added, “The acquisition of ARS is highly complementary to Prime Pensions, as it diversifies our client base and adds significant extension to our geographic presence. We are thrilled that ARS and its clients are joining the Prime Pensions family. I am looking forward to having the President of ARS continue in his role, and join the leadership team of the combined business.”

While Aldrich Advisors is exiting the TPA space, the company will continue to provide investment advisory and consulting services to 401(k) plans through its Aldrich Wealth business, which remains committed to the investment advisory, employee education, and plan consulting work it has provided its clients since 1998.

The Aldrich Group of Companies includes a Top 100 Accounting Firm nationally providing tax, advisory, and consulting services to businesses and individuals. Working closely with businesses, business owners, and individuals, The Aldrich Group of Companies manages financial, wealth, tax, technology, benefits, and business transition strategies. We serve clients with deep industry expertise in construction, manufacturing, healthcare, nonprofit, telecommunications, utilities, professional services, food processing, agribusiness, real estate, and a variety of privately held companies and individual clients. The Aldrich Group includes the following professional services firms: Aldrich CPAs + Advisors LLP, Aldrich Wealth LP, Aldrich Retirement Solutions LP, Aldrich Benefits LP, Aldrich Technology LLC, and Aldrich Capital LP.

Headquartered in Florham Park, NJ, Prime Pensions is an independent provider of retirement plan compliance and administration services primarily to small and medium-sized businesses. Prime Pensions is not affiliated with any investment product provider and does not offer investment advice. For more information, please visit www.primepensionsinc.com.