LPL Financial LLC will provide the platform for retirement plans handled by Retirement Planning Analytics (RPA), a new retirement plan advisory and consulting firm based in Charlotte, N.C., LPL announced Tuesday.
The first company RPA is bringing to the LPL network is Ronald Blue & Co., which manages $1 billion in retirement plan assets held by its clients, LPL says.
Ronald Blue & Co. advisors will be the relationship managers, interacting with retirement plan administrators and clients. LPL and RPA will be the fiduciaries in the relationship and provide support services. Ronald Blue & Co. is a wealth management firm based in Atlanta.
RPA is a new firm founded by Todd Timmerman, who has more than 27 years of experience assisting with the retirement plans of major companies. He is joined at RPA by a relationship manager and plans to bring on two additional analysts.
David Reich, an LPL executive vice president and head of its Retirement Partners, says, “At a time when the importance of retirement planning is gaining greater attention across the United States and there also is increased complexity and regulation, we are able to support Todd and RPA as they help their clients work to achieve better outcomes for plan participants.”
RPA focuses on retirement plan consulting, providing fee-based services to a wide range of organizations across the United States. RPA works with retirement planning committees to help mitigate their risks and improve decision-making in the fulfillment of their fiduciary duties.
The firm also assists human resources and finance departments in the implementation of their organizations’ retirement plans and helps employees and other plan participants engage in the retirement planning process.
RPA serves nonprofits, such as ministries and faith-based organizations; professional groups, including organizations for doctors, lawyers and dentists; and businesses in a diverse array of industries.
“Ronald Blue & Co. wanted a person they had a relationship with to lead the way in moving to LPL,” says Timmerman, whose firm will remain as the fiduciary and consultant for Ronald Blue & Co.
The addition of RPA to the LPL network continues its growth plan, LPL says.