Ascensus Unveils Revolutionary Platform Connecting Savers and Financial Advisors

Ascensus Launches a New Era in Financial Guidance

Ascensus, recognized as a pivotal player in America's savings ecosystem, has unveiled its groundbreaking workplace-to-wealth platform. This initiative marks a significant stride in connecting millions of retirement savers with knowledgeable financial advisors during essential financial transitions, such as job changes and retirement planning.

With a record of serving over 16 million savers, Ascensus is uniquely positioned to tackle an enduring challenge within the retirement industry: the lack of access to professional financial advice for many individuals. A recent study revealed that 63% of active 401(k) participants do not have a financial advisor, underscoring the critical need for solutions like this new platform.

Dan Morrison, the President of Retirement at Ascensus, emphasized the necessity of this service by stating, "Working Americans need help. We believe every saver deserves an advisor." He pointed out the alarming reality where individuals face vital financial decisions without access to professional guidance, particularly regarding crucial moments like changing jobs or preparing for retirement. Ascensus is committed to bridging this gap.

The platform is designed thoughtfully, integrating participant connectivity, advisor engagement capabilities, and referral workflows, thereby enriching the overall experience for savers. At its core, this offering aims to unify workplace savings and personal wealth management while nurturing the trust between savers, their advisors, and their employers. Importantly, it maintains compliance with data privacy requirements.

In addition to enhancing connectivity, Ascensus is also focused on improving the digital experience for participants. The platform aims to deliver personalized support and AI-driven assistance, enabling savers to make informed decisions and to engage with the financial advisor handling their retirement plan.

Josh Rundle, Head of Investment and Wealth Solutions at Ascensus, highlighted the importance of this initiative, stating, "Workplace retirement plans represent one of the most important opportunities to expand access to financial advice." This new paradigm promises to create a seamless link between workplace savings and wealth management, offering new engagement opportunities for partners while reinforcing existing trusted relationships.

The launch of this platform signals a larger trend within the retirement industry, as the lines between savings and wealth management continue to blur. Ascensus is eager to support this shift because their business model is designed not to compete with financial advisors, but rather to enhance their relationships with savers. Partners retain control over how participant needs are served, ensuring a tailored approach to financial guidance.

Looking ahead, Ascensus plans to roll out this model with select advisory firms and expand connections with more financial institutions in the near future. Additional updates regarding partnerships and new capabilities will follow as the initiative grows.

The advantages of this platform are manifold:
1. Participants will have improved access to professional financial advice during critical life transitions.
2. Financial advisors associated with Ascensus will find new avenues to support savers as their financial needs evolve.
3. Plan sponsors can promote financial wellness beyond the retirement experience.
4. Industry partners and institutions will unlock new opportunities to enhance participant engagement and improve retirement outcomes.

About Ascensus: Ascensus stands as the cornerstone of America’s savings ecosystem, simplifying the saving process through a blend of intuitive technology, AI, and personalized service. They administer comprehensive retirement plans and financial solutions, supporting over 16 million savers and managing assets exceeding $1.3 trillion. For further information, visit ascensus.com.