NEW YORK - January 5, 2022 - NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement, and individual solutions, today announced it has acquired Improved Funding Techniques Inc. (IFTI). The transaction closed on December 1, 2021.
IFTI is a third-party administrator (TPA), with an internal RIA, offering a consolidated solution for designing, implementing and administering retirement plans for privately owned business. In acquiring IFTI, NFP adds scale to its retirement business and expands its footprint in the New York metro area and around the country. The acquisition also advances NFP's existing internal TPA expertise, while adding complementary defined benefit plan capabilities that can be leveraged across the entire organization.
Daniel Bystrom, IFTI's president, will join NFP as a senior vice president reporting to Nick Della Vedova, president of NFP Retirement. Bystrom and the IFTI team will collaborate with NFP's team in the Northeast region on opportunities to introduce unique solutions across the NFP Retirement distribution network.
'We're excited to welcome Dan and the entire IFTI team to NFP,' said Della Vedova. 'Their excellent relationships across the region, together with their unique and comprehensive defined benefit plan design, implementation and administration capabilities, will enhance our ability to deliver value to businesses of all sizes, including larger manufacturing companies as well as professional services firms such as medical and law practices.'
"We're thrilled to be joining NFP and to have the opportunity to work with Nick and NFP's team of retirement specialists,' said Bystrom. 'Our team of consulting and actuarial experts who specialize in the design, installation and administration of employee benefit plans will complement NFP's commercial P&C, group benefits and executive benefits solutions, and benefit clients working hard to compete for talent and drive growth in a dynamic environment.'