NRP Announces Broker/Dealer Acquisition
NEWS RELEASE
February 21, 2007
FOR IMMEDIATE RELEASE CONTACT: Robert L. Francis Chief Operating Officer rfrancis@n-r-p.com 888- 899-4015, Ext.106
National Retirement Partners (NRP) Announces Broker/Dealer Acquisition Creates a unique NASD Firm focused on the retirement plan market. (Capistrano Beach, CA) National Retirement Partners, Inc., the nation’s largest network of independent retirement advisors, has announced that it will acquire Oberlin Financial Corp.; an Ohio based full service broker/dealer, on or about March 15, 2007. In accordance with industry regulations, the transaction has met the NASD’s requirements for notification and application. The acquisition, the culmination of 8 months of rigorous analysis and due diligence, is intended to create a robust brokerage firm whose focus is the retirement plan market. The benefits to NRP Member Firms who transition to the new broker dealer will be numerous, including the ability to accept fiduciary responsibility for plan sponsor investment advice, dealer concession payouts which reflect the efficiency of institutional business, streamlined rollover services for job changers and retirees and compliance supervision which specializes in the retirement plan market. William Cvengros, Chairman of National Retirement Partners, stated “The acquisition of Oberlin Financial also completes a critical step to further NRP’s strategy to acquire approximately 50 plus retirement advisory practices from within our expected network of approximately 150-200 affiliated Member Firms.†"We could not be more pleased with the final outcomeâ€Â, says NRP Chief Executive Officer, Bill Chetney. “Our goal is to build the nation’s leading retirement services broker/dealer, uniquely capable of supporting the distinct needs of retirement advisors. We constructed a blue-print of the characteristics of such a firm and it was readily apparent that Oberlin Financial was the perfect fit.†“We determined early on that it would be more prudent to acquire an existing operation with a seasoned management team vs. building one from scratchâ€Â, says Bob Francis, Chief Operating Officer of NRP. “Our criteria were very firm; the broker/dealer had to have a pristine record of strong compliance supervision, a solid grasp of the retirement market and operations automation to allow for scaled growth of new businessâ€Â. For Oberlin Financial the acquisition brings the opportunity for significant advisor growth and a much stronger brand and market position in the $9+ trillion U.S. retirement market. Cliff Oberlin, President and Chief Executive Officer of Oberlin Financial stated, “We understand the unique needs of a retirement advisor, whether it is from a fiduciary standpoint, product due diligence, rollovers and the like. By formally coming together as one organization, we have the opportunity to provide tremendous operational efficiency to representatives whose primary focus is in the retirement market.†“NRP retirement advisors are truly distinct from the standard, retail-oriented registered representative†says Brian Carlson, NRP Executive Vice President. “Quite often, registered representatives who focus on the retirement market become frustrated with the absence of specialized support capabilities within their broker/dealer. We expect to fill this void so that the broker/dealer becomes a strong contributor to their practice managementâ€Â. About National Retirement Partners National Retirement Partners, Inc., formerly 401k Advisors USA, has 79 Member Firm offices that make up a network of independent advisors providing consulting and investment services to retirement plan sponsors and participants nationwide. NRP is dedicated solely to the retirement plan marketplace and provides advisory services for over 2,500 retirement plans with over $24 billion in assets. Sharing diverse talents, expertise and a common focus, NRP Member Firms are able to deliver to clients what had traditionally only been available to larger firms - heightened best practices and investment due diligence, open architecture plan analysis and design, independent vendor search and benchmarking analysis and high quality service and communications. For more information about NRP, the retirement plan experts visit www.n-r-p.com. About Oberlin Financial Corp. Oberlin Financial Corp., member NASD/SIPC, located in Bryan, Ohio, is a full-service broker/dealer focused on meeting the needs of high-end financial advisors. It is able to support a wide array of insurance and securities products including equity and debt instruments, government and municipal bonds, options, REITs, mutual funds, and fixed and variable insurance products. Additionally, its SEC-filed Registered Investment Advisor (RIA) allows its representatives to provide financial advisory services and asset management services for a fee in lieu of commissions. Oberlin Financial’s clearing contracts with Pershing, LLC, and Bear, Stearns Securities Corp. and its custodial agreement with Charles Schwab & Company, Inc. allow its representatives access to some of the best platforms in the industry. For more information on Oberlin Financial, please visit www.oberlinonline.com