Strategic Retirement Partners (SRP), a national independent retirement plan consulting services firm, is partnering with Global Retirement Partners LLC (GRP Financial) in a deal that will add 17 SRP offices with a total of $11 billion in client assets under management to GRP Financial.
GRP, headquartered in San Rafael, Calif., is LPL Financial's largest retirement-plan-focused hybrid RIA, with nearly $59 billion in AUM.
The partnership will give SRP access to GRP's compliance expertise, exclusive marketing content and back-office support, while SRP advisors will be able to leverage GRP's Plan Advisor practice management platform and advisor-centric technology. The partnership will further empower SRP advisors by allowing them to focus on their clients and grow their practices, while mandatory business functions are outsourced and streamlined.
SRP officially registered with GRP on April 1, 2019. Combined, the two companies retain nearly $70 billion in assets under administration (AUA), making GRP the third-largest aggregator in the industry.