RJF - Raymond James expands retirement services range with NWPS acquisition

Raymond James Financial ([[RJF]] -0.9%) agrees to acquire Seattle-based NWPS Holdings, a provider of retirement plan administration, consulting, actuarial, and administration services based, expanding RJF's retirement services offerings.Terms of the transaction, which is expected to close before Dec. 31, 2020, weren't disclosed.Raymond James's cash acquisitions over the past 11 years:The acquisition comes in the wake of this year's SECURE Act, which allows for pooled retirement arrangements and increases the investable market for employer and employee small business solutions.NWPS will continue to operate under its current name. The firm currently has more than 400,000 participants with more than $35B in plan assets.

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Raymond James expands retirement services range with NWPS acquisition