# NFP Retirement

NFP Retirement is a Bank / Wealth / Trust based in South Jordan, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** South Jordan, United States
- **Region:** North America
- **Address:** South Jordan, UT, United States
- **Founded:** 2000
- **Assets under management:** Undisclosed
- **Website:** nfpretirement.com

## Regulatory record

- **Reports private funds:** No

## About

NFP Retirement is a wealth manager based in New York, US. It manages approximately $45 billion in assets, primarily serving clients in North America.

## Questions

### Who is NFP Retirement's corporate parent, and how does that relationship shape the unit?

NFP Retirement is a division of NFP Corp, which global professional services firm Aon acquired for $13.4 billion in a deal that closed in December 2023. That acquisition places the retirement advisory unit inside a publicly traded company with over 50,000 employees worldwide. The relationship means NFP Retirement can distribute its retirement-plan fiduciary services through Aon's existing commercial relationships, but it also subjects the unit to the governance and capital allocation priorities of a large public parent rather than an independent partnership.

### Does NFP Retirement manage proprietary funds or act as an open-architecture fiduciary?

NFP Retirement operates on an open-architecture basis — it does not manufacture or manage proprietary mutual funds, collective trusts, or ETFs. The firm selects and monitors fund lineups from external asset managers under ERISA 3(38) and 3(21) fiduciary designations. This role is closer to an outsourced CIO for retirement plans than an asset gatherer for house-branded products, which distinguishes it from large recordkeepers that compete on proprietary target-date series.

### What types of retirement plans does NFP Retirement typically serve?

The unit serves corporate defined-contribution plans, primarily 401(k) and 403(b) arrangements, concentrated in the US mid-market. Plan sizes tend to be smaller than the mega-plan segment served by dedicated institutional OCIO firms like Aon's own investment consulting practice, creating a distinct client profile within the broader Aon ecosystem.

### Since the Aon acquisition, does NFP Retirement still operate as a distinct fiduciary entity?

Yes. NFP Retirement continues to accept ERISA fiduciary obligations under its own regulatory filings and client agreements. The Aon acquisition changed the corporate ownership but did not dissolve the unit's legal status as a registered investment advisor. Plan sponsor clients retain the same contractual fiduciary protections, though the distribution and operational back-office have converged with Aon's broader wealth solutions platform since the deal closed.

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Last updated: 2026-06-03T20:00:00.000Z

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