Strongpoint Partners

Based in the USA, Strongpoint Partners specializes in providing tailored retirement and payroll solutions for small to medium-sized businesses, ensuring compliance and effective administration of retirement plans. Strongpoint Partners operates as a provider of retirement and payroll services, focusing on small to medium-sized enterprises. The firm is headquartered in Chicago, US. In December 2021, Strongpoint was acquired by Shore Capital Partners, with undisclosed financial terms.

The company has completed one deal as of the latest update. Strongpoint Partners specializes in providing a comprehensive retirement and payroll platform tailored for small to medium-sized businesses. Their core offerings include defined contribution and defined benefit plan design and administration, fiduciary oversight, compliance reporting, and integrated payroll and HRIS solutions. These services are designed to address the unique retirement challenges faced by diverse customer segments, ranging from sole proprietors to larger employers.

The company's client base encompasses over 25,000 unique customers across 42 states, representing more than 600,000 plan participants. By leveraging a tech-enhanced service delivery model, Strongpoint ensures local service with national support, effectively catering to the needs of businesses in various geographical markets, including the Midwest, Southeast, and West Coast. Revenue generation for Strongpoint Partners primarily stems from their service fees for retirement plan administration and consulting services, structured as B2B transactions with businesses seeking tailored retirement solutions. These services are typically provided under multi-year agreements, where clients pay for ongoing management, compliance, and advisory support.

The firm’s revenue structure may involve annual subscriptions or service agreements that include a range of offerings, such as actuarial services and fiduciary guidance. Specific pricing plans for these services are designed to reflect the complexity and customization required by clients, with potential variations based on the size of the business and the scope of the retirement plans involved. Strongpoint’s flagship services include its comprehensive retirement plan solutions, which are integral to its value proposition in the marketplace. In line with its growth strategy, Strongpoint Partners is focusing on expanding its product offerings and exploring new markets.

Plans are underway to enhance their retirement and payroll platform with innovative features aimed at improving user experience. The firm aims to enter new geographic regions by the end of 2022, targeting areas in the Northeast and Pacific Northwest. The recent acquisition by Shore Capital Partners in December 2021 is expected to provide the necessary resources to support these initiatives.