Northwest Plan Services
Northwest Plan Services is an independent retirement plan recordkeeper and administrator serving 1,100+ plans with 425,000+ participants and $49.5B AUA across corporate, non-profit, religious, tribal, Taft-Hartley, and MEP/PEP clients on a 100% fee-for-service model.
- Company typePrivate
- Founded1994
- HeadquartersSeattle, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Northwest Plan Services does
Northwest Plan Services (NWPS), founded in 1994 in Seattle as Northwest Investment Consulting, Inc. and now doing business as NWPS, is a third-party retirement plan recordkeeper, administrator, actuary, and consultant serving 1,100+ plans with 425,000+ participants and $49.5 billion in assets under administration as of December 31, 2025. The firm is a wholly owned subsidiary of Raymond James Financial (NYSE: RJF) but operates as an independent business channel with no investment-advisory or trust operations and no proprietary investment products. Its customer base spans corporate sub-segments (law firms, manufacturing, retail, utilities, healthcare, professional services, financial services), non-profits, religious organizations, Tribal and Alaska Native corporations, Taft-Hartley union plans, and Multiple/Pooled Employer Plans.
NWPS delivers its services on the Relius and Omni recordkeeping platforms hosted in a Fidelity Information Services (FIS) ASP environment, supplemented by Microsoft Azure cloud infrastructure and Salesforce Service Cloud for client management. The platform is built on an open-architecture investment model supporting 11,000+ mutual funds, collective funds, company stock, self-directed brokerage, model portfolios, and non-traditional investments such as limited partnerships, integrated with five major trust companies. Security and compliance are core: SOC1 and SOC2 Type 2 reports, segmented customer data, encryption in transit and at rest, multi-factor authentication, quarterly employee security training, and third-party participant-level fraud detection. The product portfolio is organized around plan types (Defined Contribution including 401(k), 403(b), 457, ESOP/KSOP, 401(a), MEPs, PEPs; Defined Benefit and Cash Balance; Non-Qualified Deferred Compensation; Health & Welfare for Taft-Hartley clients; and Taft-Hartley administration), with add-on modules for ERISA Section 3(16) fiduciary services, the EXPLORE Financial Wellness platform, and a Retirement Readiness projection tool served through web, mobile, and U.S.-based call centers in Towson, MD and Seattle, WA with Spanish-speaking representatives.
NWPS operates on a 100% transparent, fee-for-service pricing model in which fees scale with plan headcount and complexity rather than plan assets, aligning incentives with client outcomes. Distribution is two-tiered: financial advisor partnerships serve as the primary acquisition channel while advisors retain control of investment menus and client relationships, and a national direct sales team organized into seven geographic territories (South, Northeast, Central, Southeast, Mid-Atlantic, West, Mountain) supports advisor engagement and direct plan-sponsor outreach. Service delivery uses dedicated integrated client teams with no functional silos to ensure continuity from implementation through ongoing administration. Operational performance is a stated differentiator: 150+ plan implementations completed on time over the last two years, 30+ DOL audits cleared with zero findings or restitution, and a >98% client retention rate sustained over each of the last five years.
Northwest Plan Services firmographics
Firmographics- Name
- Northwest Plan Services
- Legal name
- Northwest Investment Consulting, Inc.
- Website
- https://nwpsbenefits.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Northwest Plan Services is an independent retirement plan recordkeeper and administrator serving 1,100+ plans with 425,000+ participants and $49.5B AUA across corporate, non-profit, religious, tribal, Taft-Hartley, and MEP/PEP clients on a 100% fee-for-service model.
- Ownership category
- akta.pro rank
Northwest Plan Services industry classification
Industry- Product category
- Retirement Plan Administration
- NAICS
- Pension Funds (525110), Health and Welfare Funds (525120)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)
- akta.pro secondary industries
- Employee Benefit & Retirement Plan Trust Services (FSAAANAC), Benefits Administration & Enrollment Support (BPAAAIAB), Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK), Retirement Plan Participant Advice & Managed Accounts (FSAEABAF)
Keywords
Where Northwest Plan Services is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Northwest Plan Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Fee-for-Service Retirement Plan Administration: NWPS operates on a 100% transparent, fee-for-service model. Fees are based on plan headcount and complexity, not plan assets. This model aligns incentives with client outcomes rather than asset gathering.
- ERISA 3(16) Fiduciary Services: Optional additional fiduciary services provided as ERISA Section 3(16) co-fiduciary, including administrative duties management, compliance monitoring, and participant notice preparation.
- Actuarial Services: Actuarial valuations, certifications, financial accounting disclosures, and benefit calculations for defined benefit pension plans.
- Health & Welfare Consulting: Health and welfare plan consulting, actuarial, and compliance services for Taft-Hartley clients including plan design, claims review, and regulatory compliance.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Northwest Plan Services product offering
Product offeringCore offering
Northwest Plan Services provides retirement plan recordkeeping, administration, actuarial, consulting, compliance, and participant services to over 1,100 plans covering 425,000+ participants and $49.5 billion in retirement savings. The firm operates on a 100% transparent, fee-for-service model and is independent — not in the investment advisory or trust business — serving defined contribution, defined benefit, non-qualified, Taft-Hartley, and pooled employer plans for plan sponsors and financial advisors.
Product overview
NWPS is a retirement plan recordkeeping, administration, and consulting firm that operates as a wholly owned subsidiary of Raymond James while maintaining an independent business channel. Its product portfolio is structured as a unified service platform organized around plan types: Defined Contribution (401(k), 403(b), 457, ESOP, MEP, PEP) and Defined Benefit pension plans as the core offerings, supplemented by Non-Qualified Deferred Compensation, Health & Welfare (for Taft-Hartley clients), and Taft-Hartley plan administration. The participant-facing layer consists of a Web/Mobile/Call Center platform, the EXPLORE Financial Wellness add-on module, and a Retirement Readiness Tool. An optional ERISA Section 3(16) Fiduciary Services module provides co-fiduciary coverage. The platform is built on open architecture with integrations to managed account providers (Russell Investments, ProNvest, Edelman Financial Engines) and trust/custody partners (Charles Schwab, BNY Mellon Pershing, Northern Trust). NWPS's model is 100% fee-for-service, not asset-gathering, with revenue sharing credited back to plans.
Differentiator
Problem solved
Functional benefit
Products and services
- Defined Contribution Plan Services Full suite of defined contribution plan services covering 401(k), 403(b), 457, ESOP/KSOP, 401(a), non-ERISA plans, MEPs, and PEPs; includes plan design, recordkeeping, compliance, participant services, communication, education, and an open-architecture investment platform. Targeted at plan sponsors and the financial advisors who serve them.
- Defined Benefit Plan Services Actuarial, administration, and consulting services for traditional defined benefit and Cash Balance pension plans, including actuarial valuations, financial accounting disclosures, government filings, benefit calculations, and asset/liability assessments. Targeted at plan sponsors maintaining DB pension plans.
- Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation (NQDC) plans for select groups of management or highly compensated employees, offering 100% open investment architecture with optional integration to qualified/401(k) plan lineups. Targeted at plan sponsors seeking executive deferred compensation arrangements.
- Health & Welfare Plan Services Health and welfare plan consulting, actuarial, and compliance services for Taft-Hartley clients including general consulting, technical guidance, actuarial services (FASB ASC 965), HRA recordkeeping, and communication/education. Targeted at Taft-Hartley plan sponsors.
- Taft-Hartley Benefit Plan Administration Specialized administration for Taft-Hartley (union) plans, including member services, plan sponsorship support for joint labor-management Boards of Trustees, and coordination with plan administrators, ERISA attorneys, recordkeepers, and auditors. NWPS currently serves 48 Taft-Hartley plans with 94,000 participants and over $4 billion in assets.
- MEP & PEP Administration Administration for Multiple Employer Plans (MEPs) and Pooled Employer Plans (PEPs), enabling small employers to pool purchasing power. Supports associations in dental, technology, construction, and education industries with varying plan provisions, plan- and employer-level reporting, and complex compliance testing.
- ERISA Section 3(16) Fiduciary Services Optional co-fiduciary service under ERISA Section 3(16), taking responsibility for day-to-day administrative duties including Form 5500 preparation, operational compliance monitoring, participant notice preparation, eligibility tracking, QDRO/loan processing, and lost participant searches. Targeted at plan sponsors seeking fiduciary relief.
- Participant Services Platform (Web/Mobile/Call Center) Participant-facing service layer including a secure website for enrollment, beneficiary management, contribution changes, investment rebalancing, distributions, and statements; a U.S.-based call center in Towson, MD and Seattle, WA with Spanish-speaking representatives; and integrated financial wellness tools. Targeted at retirement plan participants.
Quantifiable outcome
- >98% client retention rate
- +2 more outcomes
Companies that use Northwest Plan Services
Customer profileNamed customers5 records
Segments12 records
Ideal customer profiles6 records
Northwest Plan Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature3 records
Northwest Plan Services partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and supporting.
- Charles SchwabcoreTrust and custody partner providing institutional custody services for retirement plan assets. NWPS utilizes multiple trust partners to accommodate the wide range of investment structures and preferences of clients.
- BroadridgecoreTrust and custody partner providing institutional custody services for retirement plan assets.
- BNY Mellon PershingcoreTrust and custody partner providing institutional custody services for retirement plan assets.
- Northern TrustcoreTrust and custody partner providing institutional custody services for retirement plan assets.
- Fidelity Information Services (FIS)coreTechnology partner providing ASP environment for Relius and Omni recordkeeping systems. FIS provides security programs covering network, website, data storage and protection, including segmented customer data, encryption, and multi-factor authentication.
- Microsoft AzurecoreCloud infrastructure partner for supplementary tools and systems. NWPS utilizes Azure cloud with security protocols and practices for non-recordkeeping tools.
- Salesforce Service CloudcoreCustomer management platform used for client relationship management and service delivery.
- Russell InvestmentssupportingManaged account provider partner offering investment management options for retirement plan participants.
- ProNvestsupportingManaged account provider partner offering investment management options for retirement plan participants.
- Edelman Financial EnginessupportingManaged account provider partner offering investment management and financial planning services integrated with NWPS platform.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Northwest Plan Services competitors and assessment
Company assessmentDirect peers
- Ascensus: Largest independent retirement plan TPA in the US, offering recordkeeping, administration and government retirement solutions. Directly comparable as an independent, fee-based recordkeeper serving corporate, governmental and MEP/PEP markets.
- T. Rowe Price Retirement Plan Services: Major recordkeeper for defined contribution plans, including 401(k), 403(b) and defined benefit plans. Closely comparable in serving mid-to-large plan sponsors with open-architecture investment menus and dedicated client teams.
- OneAmerica: Mid-sized retirement plan recordkeeper and administrator serving corporate, Taft-Hartley and government plans. Closely comparable in scale, segment focus and open-architecture orientation to NWPS.
- Capital Group (American Funds Retirement Plan Services): Recordkeeping arm of Capital Group providing DC plan administration with access to American Funds and open architecture. Comparable in mid-to-large corporate plan sponsors with a focus on advisor-led distribution.
Broad incumbents
- Empower Retirement: Largest US retirement plan recordkeeper following the Prudential and MassMutual acquisitions, offering bundled recordkeeping plus proprietary investment products and participant advice. Competes with NWPS in mid-to-large corporate DC plans but at much greater scale.
- Fidelity Workplace Investing: One of the largest US recordkeepers offering bundled recordkeeping, custody, proprietary investment products and participant advice. Competes with NWPS across corporate DC plan segments but at significantly larger scale and bundled pricing.
- Schwab Retirement Plan Services: Major bundled recordkeeper leveraging Schwab custody and participant advice. Directly competes in the open-architecture segment where NWPS operates, with greater scale and integrated custody offerings.
- Principal Financial Group: Diversified retirement and asset management firm offering bundled recordkeeping, investments and participant advice. Competes across corporate DC, DB and non-qualified segments where NWPS also serves.
- Vanguard Retirement Plan Services: Major bundled recordkeeper with low-cost target date funds and participant advice. Competes on price in the mid-to-large plan sponsor segment, often putting pressure on independent TPAs like NWPS.
- Transamerica Retirement Solutions: Large recordkeeper offering DC and DB administration with proprietary investments. Comparable as a competitor for mid-market plan sponsors seeking bundled recordkeeping services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Northwest Plan Services social profiles
Digital presenceNorthwest Plan Services compliance and trust
Trust signalCompliance2 records
Northwest Plan Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Northwest Plan Services leadership team
Management profileNumber of profiles
Profiles17 records
Northwest Plan Services funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Northwest Plan Services M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Northwest Plan Services
What does Northwest Plan Services do?
Northwest Plan Services provides retirement plan recordkeeping, administration, actuarial, consulting, compliance, and participant services to over 1,100 plans covering 425,000+ participants and $49.5 billion in retirement savings. The firm operates on a 100% transparent, fee-for-service model and is independent — not in the investment advisory or trust business — serving defined contribution, defined benefit, non-qualified, Taft-Hartley, and pooled employer plans for plan sponsors and financial advisors.
Is Northwest Plan Services a public or private company?
Northwest Plan Services is a private company. It is classified as corporate owned and is currently operating.
When was Northwest Plan Services founded?
Northwest Plan Services was founded in 1994. It employs 101 to 250 people.
Where is Northwest Plan Services based?
Northwest Plan Services is headquartered in Seattle, United States, in the North America region.
How does Northwest Plan Services make money?
Four revenue lines are on record. Fee-for-Service Retirement Plan Administration is the primary driver. The others are ERISA 3(16) Fiduciary Services, actuarial Services and health & Welfare Consulting.
Who are Northwest Plan Services's main competitors?
Direct peers on record are Ascensus, T. Rowe Price Retirement Plan Services, OneAmerica and Capital Group (American Funds Retirement Plan Services). Broad incumbents are Empower Retirement, Fidelity Workplace Investing, Schwab Retirement Plan Services, Principal Financial Group, Vanguard Retirement Plan Services and Transamerica Retirement Solutions.
Does Northwest Plan Services have an API?
No public API is recorded for Northwest Plan Services.
What industry is Northwest Plan Services in?
Northwest Plan Services's product category is Retirement Plan Administration. Its primary akta.pro industry code is FSAEABAE, Employer Retirement Plan Advisory (401(k)/Pension), with a secondary code of FSAAANAC, Employee Benefit & Retirement Plan Trust Services. Its NAICS code is 525110 and its SIC code is 6282.