Blue Ridge Associates Expands Reach with QRPS Acquisition in North Carolina

Expansion in Retirement Plan Services

In a significant strategic move, Blue Ridge Associates has acquired Qualified Retirement Plans Services (QRPS), a prominent provider of retirement plan administration solutions based in Raleigh, North Carolina. This acquisition is set to enhance Blue Ridge’s service offerings in the realm of employer-sponsored retirement plans, particularly within their 401(k) Pension business line.

The Acquisition Details

Blue Ridge Associates, established in 1966, is known for its comprehensive administration and compliance solutions related to employer-sponsored ESOPs and qualified retirement plans. The addition of QRPS, established in 1988, aligns perfectly with Blue Ridge's mission to deliver superior client care, industry expertise, and innovative technology. As Matt Slyter, the Group President of Blue Ridge’s 401(k) Pension practice, stated, "This integration will bolster our core strengths in the retirement consulting space."

QRPS has built a reputation over its three decades of operation, managing over 1,000 plans with more than $2 billion in assets. They serve a significant base of over 31,000 participants, showcasing their deep commitment to providing tailored retirement solutions for small to middle-market businesses. The QRPS team brings invaluable experience and technical skills that are expected to further elevate Blue Ridge’s position in the market.

Improving Client Services

The integration of QRPS is intended to enhance the range of services that Blue Ridge offers. By combining their resources and expertise, both companies aim to improve productivity and deliver greater value to their clients. This acquisition will also expand Blue Ridge’s geographic footprint, allowing them to serve a broader client base across the USA. The leadership of QRPS, including President Forrest Knowles, expressed enthusiasm about the collaboration, believing that they share foundational values and a common vision. Knowles stated, "Blue Ridge is a natural choice for us. We trust their capability to honor our legacy while driving our business to new heights."

Looking Ahead

As the retirement landscape undergoes continuous evolution, with increasing regulations and a growing demand for advanced technological solutions, Blue Ridge is poised to adapt and thrive. With the merger, they aim to enhance their technological capabilities and compliance expertise, ensuring they remain at the forefront of retirement administration. In addition to traditional services, they will continue investing in innovative, tech-enabled solutions that meet modern clients' needs.

This acquisition is more than just a business expansion; it reflects a strategic vision to create a comprehensive, client-centric retirement service platform that stands out in the marketplace. As businesses navigate through complexities in retirement planning, the combined forces of Blue Ridge and QRPS will provide a robust support system tailored to meet diverse client needs.

In conclusion, the acquisition marks a significant chapter for Blue Ridge Associates as they look to solidify their reputation as a trusted provider in the retirement planning industry. With combined expertise, exceptional client service, and an unwavering commitment to quality, both organizations are set to redefine the landscape of retirement plan administration.