#USA #New York #Firstrade #401(K) #Capitalize

Firstrade Partners with Capitalize to Upgrade Retirement Account Rollovers

In a significant move to modernize retirement savings, Firstrade, a prominent player in the commission-free online brokerage space, has forged a partnership with Capitalize, an award-winning platform known for facilitating digital retirement account transfers. This collaboration aims to simplify the often cumbersome process of rolling over legacy 401(k) accounts into Individual Retirement Accounts (IRAs), making it easier and more efficient for users to manage their retirement savings.

A Growing Need for Simplified Rollovers

The current landscape reveals an alarming statistic: nearly 75% of American savers struggle to complete a rollover on their own, resulting in approximately $2.1 trillion in assets left in outdated 401(k) accounts by those who have changed jobs. Individuals attempting to transfer their assets often encounter a maze of complex requirements and lengthy delays. In this context, Firstrade's initiative comes at a crucial time, promising to address the challenges faced by many in this sphere.

Innovative Integration of Technology

By integrating Capitalize's leading-edge Rollover API into its onboarding process for retirement accounts, Firstrade is revolutionizing the way users approach 401(k) rollovers. This new feature provides clients with a frictionless experience, empowering them to easily identify old 401(k) accounts and submit rollover requests digitally without the hassle of navigating complex procedures. This modernization is expected to significantly enhance user experience, bringing everything from account management to investment tracking under one roof.

Making Retirement Savings Hassle-Free

One of the standout features of Firstrade has been its No-Fee IRA, which has consistently drawn acclaim for its absence of account minimums, maintenance fees, and inactivity fees. The partnership with Capitalize elevates this offering, making it easier than ever for individuals looking to kickstart their retirement savings journey.

John Liu, CEO of Firstrade, expressed enthusiasm about the new collaboration, stating, "This partnership gives Firstrade clients a more streamlined, digital-first way to prepare for retirement. By collaborating with Capitalize, we're making it easier for investors to consolidate and manage their retirement accounts in one place." This sentiment is echoed by Gaurav Sharma, CEO and Co-Founder of Capitalize, who mentioned, "Together, we're making it easier for people to consolidate their old retirement accounts and ensure their savings keep working for them."

The Future of Retirement Savings

Capitalize's rollover technology has already facilitated billions of dollars in retirement account transfers since 2020. With the latest integration, Firstrade clients will gain access to this enhanced experience via both the Firstrade mobile app and web platform.

As retirement planning becomes more critical for Americans, this partnership between Firstrade and Capitalize is poised to transform how individuals secure their financial future. By merging their expertise and technology, both companies are dedicated to crafting a more inclusive and efficient platform for all users.

About Firstrade and Capitalize

Firstrade, founded in 1985, has established itself as a leader in online brokerage services. The firm is known for providing commission-free trading in a variety of investment products including stocks, ETFs, and mutual funds. Its commitment to lowering costs for users and enhancing their experience is central to its mission.

Capitalize, on the other hand, is recognized for its innovative approach to retirement asset transfers, aiming to simplify the rollover process for consumers and financial institutions alike. Their technology has gained significant recognition, including accolades from TIME and Forbes, showcasing their impact on the retirement savings landscape.

This partnership not only signifies a leap forward in the retirement savings space but also reflects a collective commitment towards a more user-friendly financial future.