Accelerate Retirement Spins Off From Aggregator NFP

Accelerate Retirement, a newly independent registered investment adviser focused on retirement plan consulting, is bucking the trend of consolidation in the space by spinning off from insurance brokerage and RIA aggregator NFP Corp.

Accelerate Retirement had an “amicable” break with NFP after the team of about 15 investment advisers with just less than $2 billion in client assets felt it had reached the scale where it could go out on its own and grow, both organically and by bringing on more advisers, according to Chris Giovinazzo, managing director Accelerate Retirement. The Aliso Viejo, California-based firm will continue to serve both plan sponsors and individuals with retirement planning and wealth management.

Chris Giovinazzo.

“There’s no shortage of M&A out there, and because of all that consolidation, there are so few independent national aggregators left,” Giovinazzo says. “We have reached critical mass and decided it was time to be independent.”

Giovinazzo points out that NFP was a “phenomenal partner,” but the move to go independent will allow the firm to be nimbler in making decisions about technology, resources and how advisers are allowed to work with clients.

“We have spoken with so many advisers, even those acquired by larger organizations, who don’t feel they own their business or their clients,” Giovinazzo says. “Our goal as an RIA is to provide all the tools that advisers need, but to let them be the architect of their own day. … We want to give them all the technological advantage and support, but in a way that they can focus on their clients with their own preferences and style.”

Currently, about 95% of the firm’s revenue is derived from qualified retirement plans, according to Giovinazzo. But Accelerate Retirement will be looking to grow in the area of wealth management services to serve clients who, while not considered high-net-worth individuals, are seeking more personalized investment management advice, he says.

“We believe every American deserves access to fiduciary advice at a reasonable price,” he says. “We feel that there is a large population of underserved people who don’t meet the asset minimums of high-net-worth focused advisors, yet they need our help. We want to bridge the gap and provide guidance through our workplace financial wellness platform and tailored wealth management solutions.”

Accelerate Retirement will remain a member of the Retirement Plan Advisory Group, which provides a retirement plan practice management platform.

NFP is active in the M&A space for RIAs, and its businesses that include insurance, benefits consulting, retirement plan advisement and wealth management. The Los Angeles-based firm has more than 7,000 employees globally.