NPPG buys ProManage, lifting retirement assets past $17B

What's the deal? National Professional Planning Group Inc. (NPPG)Dealroom has a profile for this one. Try Dealroom → is acquiring ProManage LLCDealroom has a profile for this one. Try Dealroom →, a Chicago-based managed account and financial wellness app provider with $4.33 billion in assets under management as of July 31. Terms, agreed on August 24, were not disclosed.

What changes? ProManage keeps its leadership team and brings its managed account platform, proprietary technology, and financial wellness capabilities to NPPG. The deal will also expand NPPG's retirement plan and pooled employer plan platforms.

By the numbers: After the acquisition, NPPG — a retirement consulting, advisory, and ERISA fiduciary services firm — will hold more than $17 billion in retirement plan assets. It will serve more than 6,000 retirement plans and over 500,000 participants.

What they're saying: "Joining NPPG brings together two organizations with a shared commitment to improving retirement outcomes through personalized portfolio allocation solutions," said Tony Sabos, co-founder and chief executive officer of ProManage.

Why now? The deal comes days after ProManage's previous owner, Smart USA Co.Dealroom has a profile for this one. Try Dealroom →, was bought by Rival Companies LLCDealroom has a profile for this one. Try Dealroom →, a management company owned by Smart USA CEO Duane Bernt. Smart USA had owned ProManage since 2023 and was itself previously held by Smart Pension LtdDealroom has a profile for this one. Try Dealroom →.

The signal: The purchase reflects steady consolidation across retirement and advisory services, with firms bundling managed accounts, fiduciary services, and financial wellness tools to broaden their reach among plan sponsors and participants.

Read more: planadviser.com

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