Associate Director of Advisor Sales

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

Human Interest to provide recordkeeping for UBS financial advisers. The platform offers direct integrations with more than 500 payroll partners. Reported by Human Interest Inc., a 401(k) and 403(b) plan provider, announced Monday that more than 5,000 UBS Group AG advisers will have access to the company's recordkeeping platform, which is designed to automate setup, administration and compliance for 401(k) and 403(b) plans. It can help with tasks such as rollovers into Human Interest plans and depositing withdrawals in as little as one business day, according to the announcement. Human Interest also offers direct integrations with more than 500 payroll partners, according to its internal data, allowing employers to monitor contribution flows and confirm funding status. "Advisers working with retirement plans shouldn't be held back by manual administration. We've built a turnkey ecosystem that automates the operational heavy lifting through deep integrations," said Chris Cupolo, Human Interest's head of strategic partnerships, in a statement. "This allows financial advisers to scale their practice and focus on high-value, holistic advice." According to the announcement, Human Interest has invested more than $200 million in product development for its platform. In January, Human Interest announced its "price match guarantee," calling it an "industry-first pledge" to match or beat verified offers from competing plan providers. The company also expanded its customer experience guarantee in August 2025, offering customer credit for missed benchmarks, and earned a J.D. Power certification in December 2025 for "outstanding customer service phone support." It also introduced an automated auditing process for midsize businesses' 401(k) plans in September 2025 and an investment lineup that included collective investment trusts for small and midsize businesses in October 2025. As of December 1, 2025, Human Interest was a recordkeeper for almost 50,000 customers and more than 2 million eligible employees. More than 650 advisory firms use Human Interest technology, according to the announcement.

The next fintech going public might surprise you. Welcome to TechCrunch Fintech! This week, Domlai is looking at Human Interest's path toward an IPO, fintech's newest unicorn, a slew of new fundraises, and more. To get a roundup of TechCrunch's biggest and most important fintech stories delivered to your inbox every Tuesday at 8:00 a.m. PT, subscribe here. The big story. SMB-focused 401k provider Human Interest last week announced a $267 million funding round, further paving the way for a public market listing. No timeline has been given. CFO Tripp Faix told TechCrunch: "We are looking to become a public company when the time is right." It's been wild watching this company grow. I first covered Human Interest when it raised a $40 million Series C in March 2020. It raised a few more rounds before BlackRock acquired a minority stake in the company in January 2023. Impressively, the company says it is "approaching cash flow break-even and has enough cash on the balance sheet to fund continued 70%+ year-over-year growth without additional capital." Fun fact: Layoffs.fyi founder Roger Lee co-founded Human Interest in 2015 and remains a director on its board. Analysis of the week. Fintech unicorns are getting to be about as rare as a four-leaf clover. According to CB Insights' State of Fintech Q2 Report, the number of new fintech unicorns born in the second quarter totaled just two. For comparison, in the second quarter of 2021, 49 new fintech unicorns were birthed. Altruist, a custodian for registered investment advisors (RIA), in May raised $169 million in a Series E funding round led by investment firm ICONIQ Growth that gave it a valuation of more than $1.5 billion. And in April, Paris-based startup Pigment raised a $145 million funding round, valuing it at $1 billion just five years after its inception. The enterprise software company offers a business planning platform for large companies to visualize their past financial performance and forecast upcoming quarters. Will Domlai see more unicorns in 2024? Scroll down to read about one more. Dollars and cents. Digital ledger API startup Fragment raised $9 million from fintech infrastructure executives from Stripe, BoxGroup, Avid Ventures, Zach Perret (Plaid), and Jack Altman (Lattice). Coast, a startup that describes itself as "a financial services platform for the future of transportation," has raised $40 million in Series B funding led by ICONIQ Growth - just four months after announcing a $25 million venture round. Astor, a free personal finance platform for women that merges community and investing in an approachable way, raised $1.4 million. Sam Altman-backed Slope, a Silicon Valley-based B2B payments platform offering order-to-cash workflow automation for enterprise companies, secured JP Morgan Payments as the lead in a new $65 million strategic equity and debt financing round. Matera, a Brazilian company that provides instant payment, QR code payment and core banking software to financial institutions, received a $100 million investment from Warburg Pincus. What else Domlai is writing. Indian fintech Paytm's struggles won't seem to end. The company on Friday reported that its revenue declined by 36% and its loss more than doubled in the first quarter as it continues to grapple with a regulatory clampdown that has significantly curtailed business at its payments bank subsidiary. Fast-growing payroll provider Deel has made another acquisition - its third this year. Deel has acquired Hofy, a London-based company that delivers and helps manage office equipment for remote hires. Financial terms weren't disclosed, but a source familiar with the matter told TechCrunch that the deal was worth over $100 million. African remittance fintech Pesa is in the final stages of acquiring the requisite licenses for rollout in the United States, having just recently launched in 27 European countries after seeing success in Canada.