Ascensus

Ascensus

Provides recordkeeping and savings plan services

About Ascensus

Simplify's Rating
Why Ascensus is rated
B+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated A on Differentiation

Industries

Consulting

Financial Services

Education

Company Size

1,001-5,000

Company Stage

N/A

Total Funding

N/A

Headquarters

Muhlenberg Township, Pennsylvania

Founded

1980

Overview

Ascensus provides services that help individuals save for their future through various savings plans. The company specializes in recordkeeping, third-party administration, and facilitating government savings programs. Their technology and expertise support partners in managing these savings plans effectively, ensuring that clients and savers can achieve their financial goals. Unlike many competitors, Ascensus stands out as the largest independent provider in the United States, which allows them to offer a wide range of services tailored to the needs of their partners and clients. The main goal of Ascensus is to enhance the growth and success of their partners and the individuals they serve, making saving for the future more accessible and effective.

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Simplify's Take

What believers are saying

  • Partnership with Janusea may increase efficiency and reduce operational costs for clients.
  • Phillip Gillespie's appointment could enhance regulatory compliance and risk management capabilities.
  • Collaboration with T. Rowe Price may increase market share in 529 plan administration.

What critics are saying

  • Integration with Janusea's fintech solutions may face compatibility or technical challenges.
  • ESOP business acquisition by Principal may divert focus from Ascensus' core services.
  • Competitive financial wellness market pressures Ascensus to innovate rapidly to maintain position.

What makes Ascensus unique

  • Ascensus partners with Janusea to streamline IRA and HSA administration for financial institutions.
  • Ascensus collaborates with T. Rowe Price, enhancing its leadership in 529 plan administration.
  • Ascensus offers comprehensive support during implementation, ensuring smooth transitions for clients.

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Benefits

Remote Work Options

Company News

Plan Adviser
May 2nd, 2025
Product and Service Launches - 5/2/25

Ascensus LLC and fintech firm Janusea Inc. announced the launch of an integrated technology solution aimed at streamlining individual retirement account and health savings account administration for banks and credit unions.

PR Newswire
May 1st, 2025
Ascensus Announces New Partnership With Janusea To Revolutionize Ira And Hsa Administration

DRESHER, Pa., May 1, 2025 /PRNewswire/ -- Ascensus announced a new strategic partnership with Janusea to deliver a financial technology solution that streamlines IRA and health savings account (HSA) administration for financial institutions. Janusea's product creates a direct integration between Ascensus' technology platform and banks and credit unions, eliminating manual, dual entry of IRA and HSA transactions.Ascensus currently offers full-service IRA and HSA administration as well as related services for approximately 5,500 financial organizations through its Retirement Products & Solutions (RPS) line of business. The new partnership combines Ascensus' position as the leading provider of IRA and HSA services in the industry with Janusea's deep experience bridging the gap between financial institutions and innovative fintech solutions."We're thrilled to partner with Janusea to bring this innovative solution to our clients," noted Anna Johnson, Head of Ascensus Retirement Products & Solutions. "Janusea believes integration should never be a barrier to innovation and is passionate about unlocking and accelerating financial technology for banks and credit unions. We're proud to offer this turn-key solution with minimal implementation effort on our clients' behalf, so banks and credit unions can spend more time doing what they do best and leave the data sharing and reconciliation to us."Key highlights of the integrated solution include:Comprehensive Implementation/Onboarding Support: Clients receive full support during the implementation and onboarding process, ensuring a smooth transition.Clients receive full support during the implementation and onboarding process, ensuring a smooth transition. Productivity Gains for Front-Line Staff: Elimination of dual data entry means front-line staff can operate more efficiently.Elimination of dual data entry means front-line staff can operate more efficiently

HR Today
Feb 27th, 2025
Ascensus Names Phillip Gillespie New Chief Legal, Risk and Compliance Officer

DRESHER, Pennsylvania, United States, February 2025 - Ascensus announced today that Phillip Gillespie has joined the company as its new Chief Legal, Risk and Compliance Officer.

PR Newswire
Feb 26th, 2025
Ascensus Names Phillip Gillespie New Chief Legal, Risk And Compliance Officer

DRESHER, Pa., Feb. 26, 2025 /PRNewswire/ -- Ascensus announced today that Phillip Gillespie has joined the company as its new Chief Legal, Risk and Compliance Officer. Gillespie reports to Ascensus Chair and CEO David Musto and is based in the company's Newton, MA office

GlobeNewswire
Nov 6th, 2024
Financial Wellness Software Market Report 2024, Featuring Profiles of Intuit, Voya Financial, Alight Solutions, MoneyLion and PlanSource Holdings

For instance, in May 2021, Ascensus LLC, a US-based financial services company, launched Aimee, an AI-driven virtual coach designed to offer personalized financial wellness guidance to employees participating in retirement plans.

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