Combination Creates One of the Nation’s Largest Comprehensive and Conflict-Free Retirement Recordkeepers
PHILADELPHIA, PA—July 31, 2019—PCS Retirement, LLC (formerly known as Professional Capital Services, LLC, “PCS”), the Nation’s Premier Fiduciary Retirement PlatformSM, announced today the acquisition of Aspire Financial Services. The combined, 300-person organization provides conflict-free recordkeeping services to 16,000 plans and 750,000 eligible participants representing more than $23 billion in assets under administration. Together, PCS and Aspire will serve thousands of financial advisors, strategists and Third-Party Administrators (TPAs) across the United States.
PCS and Aspire were both founded nearly two decades ago with the same common goal—to provide a comprehensive, independent and conflict-free retirement plan platform for financial advisors, TPAs, plan sponsors and participants alike. PCS became the first recordkeeper to offer advisors a prospecting engine and benchmarking toolkit and is now leading the charge in integrating with wealth management platforms, enabling advisors to have a holistic view of all assets, retirement and non-retirement. Aspire was the pioneer in flat-fee pricing, choice architecture and best-of-breed service delivery model. For the Non-ERISA and ERISA qualified plan markets, as well as the individual end market, the combined platform is now uniquely aligned with legislative tailwinds in favor of the establishment of retirement plans by small companies and growth in automatic enrollment.
“PCS and Aspire have always shared a common vision to help Americans retire with dignity. We believe the combined organization will offer a compelling full-suite retirement platform capable of enabling financial intermediaries a robust retirement solution framework,” said Pete Kirtland, CEO of Aspire. “We look forward to joining forces with PCS to provide an industry leading, full-service recordkeeping solution.”
As part of this transaction, Aspire senior leadership will join the PCS management team. Mark Klein, CEO of PCS, will be the CEO of the combined organization.
“Together, PCS and Aspire can more effectively fulfill our shared pledge to offer a platform that advisors and their clients can depend on, without conflict and without hidden fees or agendas,” said Klein. “It’s really a combination without compromise. We are focused on working together to continue to offer proactive, best-in-class service to retirement plan professionals, TPAs and the clients they serve. Today’s announcement represents our shared belief that all employers, regardless of size, and Americans at every income level deserve access to sophisticated, transparent workplace plans that increase their financial security.”
About PCS Retirement
PCS Retirement, LLC is The Nation's Premier Fiduciary Retirement PlatformSM. PCS makes it possible for advisors to extend sophisticated wealth management solutions and generate better outcomes for retirement plan sponsors and participants. Since 2001, PCS has been a partner to the fiduciary financial advisor for qualified retirement plans, providing transparent, conflict-free retirement solutions with no hidden fees. PCS offers a comprehensive retirement platform, including front-end business development tools, easy-to-use technology, and analytics to help advisors personalize and integrate retirement plans as part of their broader offering without conflict and with the highest level of service. The result: Better solutions for advisors—and the clients who trust them. To learn more, visit https://www.pcs401k.com/.
About Aspire Financial Services
Aspire Financial Services, LLC is a leading service provider of smart retirement solutions, serving advisors, plan sponsors and TPAs since 2002 with a conflict-free, open-investment retirement planning management system supporting all plan types [401(k), 403(b), 457, IRA including Payroll Deduction, HSA, Cash Balance, Defined Benefit, Non-Qualified]. Aspire provides a best-in-class technology-enabled portfolio of pre-defined or highly customizable smart retirement solutions with private-label branding options through its proprietary technology platform and strategic partnerships. To learn more, visit www.aspireonline.com or call 866.634.5873.