San Diego, CA (PRWEB) December 1, 2009
Retirement Capital Group, Inc. (RCG), an industry pacesetter in executive compensation and benefits consulting, announces today the completion of a year-long negotiation resulting in its acquisition by NIP, Inc., a leading independent risk management, executive compensation and corporate governance firm, headquartered in Austin. TX.
“While we posted solid revenue and profit growth for the last three years, executive benefits is undergoing radical change and demands new thinking and resources going forward. We’ll continue to build on our patented Management/Professional Security Plan™ and other unique solutions to benefit security, but we want more growth. NIP brings additional capital and a total compensation and benefits solution for continued national expansion. In fact, we’ve already opened a new office in Denver and Chicago, with New York and Dallas scheduled for December 2009,” says William L. MacDonald, RCG’s chairman, president and chief executive officer. “We also just signed a national strategic alliance with a leading pension consulting firm, giving our consultants access to new opportunities within their 125 office network”, MacDonald continues.
NIP’s Chairman and Founder Bill Pollock views “the acquisition of RCG as our flagship company, which will enable us to round out our business strategy of seamless delivery on compensation and benefits consulting with a clear-eyed focus on corporate governance.” Earlier this year NIP introduced a state-of-the-art director’s liability policy which fundamentally restructures and strengthens how directors are protected from personal liability in the new order of business and today’s economic times.
Simultaneously, RCG also has recently formed an important alliance with Benefits Group Worldwide (BGW), a 35-year old Los Angeles-based firm, specializing in nonqualified executive benefits plan administration and services. The joint venture will be known as RCG/Benefits Group.
“In the past, RCG outsourced client plan services to third party administrators (TPAs); however having these resources in-house will assist us in our continued growth with a focus on providing quality services to our clients,” says MacDonald.
BGW’s CEO Rob Shor has long been an active voice for the benefits industry in working with Congress. After many years of friendly competition with Bill MacDonald and RCG, Rob said “We are excited about the opportunity to partner with an industry innovator and thought leader. RCG’s consultative approach to our business complements our flexible technology platform. We can service what RCG designs.” The joint venture with BGW also brings several national strategic alliances and additional consultants to add to the RCG team.
About Retirement Capital Group:
Retirement Capital Group offers nonqualified executive benefit consulting services on plan structure, design, benefit security, funding, implementation, and administration. RCG’s unbundled approach provides companies access to proprietary solutions, top-tier advice and exemplary plan administration. RCG serves leading public and private corporations and non-profits nationwide.
NIP, Inc. is a Texas-based risk management, executive compensation and corporate governance firm.
About Benefits Group Worldwide:
Benefits Group Worldwide, formed in 1976, designs, implements, funds, and administers nonqualified benefit plans for mid-size and large publicly-owned companies. Known for its proprietary state-of-the-art administration system, BGW maintains offices in ten major cities throughout the United States.