BBB National Programs' National Advertising Division has ruled that Vestwell Holdings must modify claims about its $200 million annual recurring revenue to include clear disclosure of the calculation methodology. The decision followed a Fast-Track SWIFT challenge by competitor Human Interest Inc. The division found Vestwell provided sufficient information regarding its Accrue 401k acquisition, noting the press release adequately indicated the ARR figure included growth from the acquisition. However, NAD determined that potential customers may rely on the press release to compare providers and require transparent methodology to assess claimed revenues. Vestwell stated it disagrees with certain elements of the decision but will comply with NAD's recommendations. The companies compete in the workplace savings market, offering 401(k) plans to businesses and employees.

National Advertising Division finds certain Vestwell "Annual Recurring Revenue" Disclosures sufficient; recommends modification to disclose methodology. iCrowdNewswire May 18, 2026 10:30 AM ET New York, NY - May 18, 2026 - In a Fast-Track SWIFT challenge brought by Human Interest Inc., BBB National Programs' National Advertising Division found that Vestwell Holdings Inc. provided sufficient information regarding its recent acquisition of Accrue 401k, but recommended that certain claims regarding its Annual Recurring Revenue (ARR) be modified to include a clear and conspicuous disclosure of the methodology used to calculate that figure. Fast-Track SWIFT is an expedited process for single-issue advertising cases reviewed by the National Advertising Division (NAD). Vestwell and Human Interest compete in the workplace savings market, offering 401(k) plans and other products to businesses and their employees. At issue for NAD was whether Vestwell's ARR claims in its press release require disclosure of the methodology used to calculate ARR and the extent to which the reported ARR includes ARR from a recent acquisition. NAD found that, in the context of the press release, it was not necessary to require any specific disclosure of the extent to which the ARR figure is attributable to the recent acquisition. The press release includes a reference to the Accrue acquisition, with a bullet point stating "Nearly 30,000 plans added through the Accrue 401k acquisition," a hyperlink to the press release announcing the acquisition. Thus, there was sufficient information in the press release to inform consumers that the reported ARR figure is inclusive of growth through acquisition. However, regarding the ARR claims, NAD determined that the press release may be relied upon by potential customers to compare providers, as with any other advertising format, and that a succinct disclosure describing the method used to calculate ARR allows those potential customers to assess the claimed revenues for comparative purposes. Therefore, NAD recommended Vestwell modify the claims "The Series E doubles Vestwell's valuation as the company surpasses 2 million active savers, $50 billion in assets, and $200 million in annual recurring revenue," and "Vestwell has surpassed $200 million in annual recurring revenue and continues to grow profitability" to include a clear and conspicuous disclosure of the methodology used to calculate the reported ARR. In its advertiser statement, Vestwell stated that though it disagrees with certain elements of the decision, it will "comply with NAD's recommendations." All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. This press release shall not be used for advertising or promotional purposes. About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than 20 globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, promote fair competition for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org. About the National Advertising Division: The National Advertising Division of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. The National Advertising Division reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and promoting fair competition for business. Contact information: Name: Jennie Rosenberg Email: [email protected] Job Title: Media Relations

Vestwell has been selected as the exclusive partner for QuickBooks 401(k), a retirement savings offering for QuickBooks Workforce business customers. The partnership embeds a payroll-connected 401(k) directly into Intuit's business platform, streamlining plan administration for small and mid-market businesses. Nearly two-thirds of employees at businesses with fewer than 50 workers lack access to workplace retirement savings, according to Georgetown University's Centre for Retirement Initiatives. QuickBooks 401(k) by Vestwell integrates retirement benefits into existing QuickBooks workflows, reducing administrative complexity. The offering includes flexible plan options, professional investment oversight, multilingual support in over 240 languages, and built-in compliance support. Vestwell currently supports over 2 million active savers, 500,000 businesses, and administers more than $50 billion in assets following its $385 million Series E funding in February 2026.