HowardSimon, LLC

What HowardSimon, LLC does

HowardSimon, LLC (doing business as HowardSimon Retirement) is a Chicago-based third-party administrator (TPA) founded in 1981 that provides retirement plan design, administration, compliance testing, government reporting, and recordkeeping services to small and mid-sized employers, with particular focus on sole proprietors such as dentists, attorneys, and physicians. The firm administers 1,250+ plans representing $4.5B+ in assets under management and delivers approximately 120 new plan designs per year. Its service mix spans 401(k) (Traditional, Roth, Safe Harbor), Profit Sharing, 457, 403(b), Defined Benefit, Cash Balance, and ESOP plans, plus integrated payroll and HR modules (Strongpay, Mineral HR-OnDemand, Benefits Administration, Time Tracking, Accrual Tracking).

The firm's technology stack centers on a proprietary daily recordkeeping system launched in 1996 that supports variable fund options across multiple fund families and fund classes, scaled to $1B AUM and 300+ active customers by 2020, alongside the Strongpay payroll platform (processes $3B+ annually across 50 states) and a secure client portal with single sign-on. HowardSimon operates inside 18 major recordkeeper platforms (Fidelity, Vanguard, Empower, ADP, Principal, JPMorgan, Lincoln Financial, etc.) on a daily basis, and holds the ASPPA Administration Services Certification (held by fewer than 50 firms nationwide) and AICPA SOC compliance.

HowardSimon generates revenue through professional services fees on plan administration and managed services fees on payroll processing, with quote-based, annually-billed pricing tailored to each client. Go-to-market combines direct field sales to Chicago-area SMBs with channel partnerships through financial advisors, CPAs, attorneys, and recordkeepers. The firm is a founding partner of Strongpoint Partners, a 2022-vintage national network of 21+ retirement-administration firms aggregating 375+ partner firms, 40+ actuaries, 32K+ administered plans, and $54B+ in plan assets — providing HowardSimon with national scale while it retains its boutique, Chicago-anchored service model. The business remains founder/family-owned with no disclosed institutional capital, and was most recently led operationally by Vice President Nick Ciaccio (promoted 2025).

Name

HowardSimon, LLC

Legal name

HowardSimon Retirement

Website

https://howardsimon.com

Company type

Private

Founded year

1981

Operating status

Operating

Short description

HowardSimon Retirement is a Chicago-based third-party administrator providing retirement plan design, compliance, recordkeeping, and integrated payroll services to small businesses, sole proprietors, and financial advisors across the Midwest and nationwide via the Strongpoint Partners network.

Ownership category

akta.pro rank

Product category

Retirement Plan Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Pension Funds (525110)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Compliance, Reporting & Regulatory Administration (ERISA/ACA/No Surprises) (HLAEALAJ)

Keywords

• Retirement plan administration
• Third-party administrator services
• 401(k) plan design
• Integrated payroll services
• Retirement plan consulting

Headquarters

HQ city

Riverwoods

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Retirement Plan Administration Services: HowardSimon Retirement generates revenue as a third-party administrator (TPA) providing retirement plan administration services. Services include plan design, implementation, compliance testing, administration, government reporting and filings, recordkeeping, and ongoing plan support and consulting for 401(k), Profit Sharing, 457 Plans, Defined Benefit, Cash Balance, 403(b), and ESOP plans.
2. Integrated Payroll Services (Strongpay): Payroll processing services powered by Strongpay platform. Services include Time System and Integrated Workforce Management, Mineral HR-OnDemand, Benefits Administration, and Accrual Tracking. Processes $3B+ yearly across 50 tax compliant states.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

HowardSimon Retirement is a third-party administrator (TPA) that provides retirement plan design, administration, compliance testing, recordkeeping, government reporting, and ongoing consulting for 401(k), Profit Sharing, 457, Defined Benefit, Cash Balance, 403(b), and ESOP plans. It complements these services with an integrated payroll platform (Strongpay) and a proprietary daily recordkeeping system, delivering tech-enabled, locally delivered TPA services to small and medium-sized employers through the Strongpoint Partners national network.

Product overview

HowardSimon Retirement is a Third-Party Administrator (TPA) offering a comprehensive suite of retirement plan services and integrated payroll solutions. The core offerings include 401(k) Plans (Traditional, Roth, Safe Harbor), Profit Sharing Plans, 457 Plans, Defined Benefit & Cash Balance Plans, 403(b) Plans, and ESOPs. These retirement services are complemented by their proprietary Strongpay payroll platform, which is uniquely built by retirement administrators to integrate payroll and retirement administration. Additional modules include Time System and Integrated Workforce Management, Mineral HR-OnDemand, Benefits Administration, and Accrual Tracking. The company also operates a proprietary Daily Recordkeeping System that allows for dynamic fund management. All services are delivered through their Chicago-based team in partnership with Strongpoint Partners' national network.

Differentiator

Problem solved

Functional benefit

Brands

• Strongpay: A payroll platform built by retirement administrators that integrates payroll and retirement for enhanced efficiency and compliance.

Products and services

• 401(k) Plans Traditional, Roth, and Safe Harbor 401(k) plans with full plan administration, compliance testing, and reporting for employers and their advisors.
• Profit Sharing Plans Employer-funded retirement plans where employer contributions are discretionary, administered on behalf of small and medium-sized businesses.
• 457 Plans Tax-advantaged retirement plans for government and certain not-for-profit employers, with administration and compliance services.
• Defined Benefit and Cash Balance Plans Pension-style retirement plans with guaranteed benefits; Cash Balance plans combine features of defined benefit and defined contribution plans.
• 403(b) Plans Tax-advantaged retirement savings plans for employees of public schools, nonprofits, and certain religious organizations, with full administration and compliance support.
• Employee Stock Ownership Plans (ESOP) Qualified retirement plan that allows employees to gain ownership in the company by receiving shares of employer stock as a retirement benefit.
• Strongpay Payroll Platform Payroll processing platform built by retirement administrators that integrates payroll and retirement for enhanced efficiency and compliance, with concierge service, payroll and HR customization, and proactive compliance checks.
• Daily Recordkeeping System Proprietary daily recordkeeping system with variable fund options from various fund families at different fund classes, enabling dynamic plan management and used by HowardSimon to administer more than $1B in plan assets.

Quantifiable outcome

• $4.5B+ in Assets Under Management
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Strongpoint PartnerscoreStrategic or Co-development Partner · 1 January 2022HowardSimon Retirement founded Strongpoint Partners in 2022 as a tech-enabled financial services platform providing third-party retirement administration, recordkeeping, and integrated payroll and HR technology solutions. As a founding firm, HowardSimon combines the responsiveness of a Chicago boutique with the national scale of a 21-firm network with 375+ partner firms and access to 40+ actuaries nationwide.
• Recordkeeping PartnerscoreTechnology or IntegrationHowardSimon works directly within recordkeeping platforms daily, ensuring accurate data, timely contributions, and seamless plan administration for shared clients. Partners include: ADP, Alerus, American Funds, Ameritas, Ascensus, Empower, Fidelity, John Hancock, JPMorgan, Lincoln Financial, Nationwide, Principal, The Standard, Transamerica, TruStage, Vanguard, Vestwell, and VOYA.
• StrongpaycoreTechnology or IntegrationStrongpay is the only payroll built by retirement administrators. HowardSimon offers Strongpay as an integrated payroll and retirement solution featuring concierge service, payroll & HR customization, and proactive compliance with hundreds of sanity checks run daily. Processes $3B+ yearly across 50 tax compliant states.

Scale indicators13 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Principal Financial Group: Large retirement plan provider offering recordkeeping, administration, and investment products. Listed as an integration partner and serves comparable small and mid-sized employer segment.
• American Funds / Capital Group (Retirement Plan Services): Major retirement plan recordkeeper and administrator with deep small/mid-market presence. Listed as an integration partner for HowardSimon, indicating operational overlap in serving shared employer plans.
• Empower Retirement: One of the largest U.S. recordkeepers offering integrated retirement plan administration, recordkeeping, and investment services. Comparable as a national-scale TPA/recordkeeper combination serving employer plans, though it operates across a much broader product set than HowardSimon's boutique scope.
• Fidelity Investments (Workplace Investing): Leading recordkeeper for employer-sponsored retirement plans. Listed as an integration partner and serves overlapping small-business 401(k) market as both recordkeeper and TPA.
• ADP Retirement Services: Recordkeeper serving small and mid-sized employer retirement plans, often bundled with ADP's payroll platform. Listed as an integration partner and a relevant competitor given the Strongpay payroll-retirement bundling thesis.

Emerging players

• Guideline: Technology-driven 401(k) provider targeting small businesses with bundled plan administration. Comparable in targeting HowardSimon's sole proprietor and small-business segment with a modern, integrated UX approach.
• Vestwell: Tech-enabled retirement platform offering 3(38) and 3(21) fiduciary services, recordkeeping, and administration for advisors and small/mid-market plan sponsors. Listed as an integration partner and a relevant modern competitor in the digital-first TPA space.

Direct peers

• Ascensus: Largest independent TPA in the U.S. offering retirement plan administration, recordkeeping, and compliance services. Directly comparable as a third-party administrator serving employers and advisors across all plan types, including 401(k), 403(b), and defined benefit plans.

Regional players

• ABG Capital / American Benefits Group: Independent TPA offering retirement plan design, administration, and consulting for small/mid-market employers. Comparable in business model and target customer, operating as another Strongpoint-style boutique network alternative.
• American Pension Advisors / APA Benefits: Mid-sized TPA specializing in small-business retirement plan design and administration. Comparable as a similar-sized independent TPA competing in similar segments, though operating in different geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HowardSimon, LLC