Ubiquity breaks record for number of financial advisor relationships, plan sponsors, and third-party administrators on the platform
SAN FRANCISCO–(BUSINESS WIRE)–In a volatile year, one thing remained constant — Ubiquity Retirement + Savings‘ commitment to small businesses. Today, the company announces it broke three more of its records in 2022: number of financial advisor relationships, number of plan sponsors, and number of third-party administrators (TPAs) to join the platform. This is on top of other records Ubiquity announced breaking in November 2022.
Over the past year, the financial technology pioneer in flat-fee1 small business retirement plans has seen a significant increase in financial advisor clients, highlighting the value they see in Ubiquity’s offerings for small business owners.
This uptick in relationships follows a slew of legislation updates as 21 states worked to establish, amend, or explore state-mandated retirement plans during 2022 legislative sessions. Today, a total of 16 states and two cities have enacted programs with more coming in 2023. At the federal level, the Securing a Strong Retirement Act of 2022, coined Secure 2.0, was signed into law last December, furthering the democratization of retirement savings opportunities for small businesses.
“There’s a high degree of trust and communication that takes place on a daily basis to ensure our strategic partners and their advisors receive the best support in the industry that is specifically geared toward small businesses,” said Bill Minogue, VP of Major Accounts, Relationship Management at Ubiquity. “We are continuing to keep an eye on the latest legislative developments, how it will impact our valued customers, and ways in which they can capitalize on new savings and benefits opportunities as proposals progress.”
Ubiquity’s number of TPA relationships also grew significantly in 2022 following enhanced offerings allowing them to more easily assign roles, add users, and apply various fees and disclosures on participant accounts.
In addition to financial advisor and TPA growth, Ubiquity noted significant growth in their plan sponsor clients in 2022. To ensure plan sponsors receive top-notch service and support, the company has embarked on an extensive training and support regimen for existing and new hires.
“This record-breaking year is a testament to our team and their unwavering dedication to providing small businesses with qualified retirement plans that meet their unique needs,” said Chad Parks, Founder and CEO of Ubiquity. “As we look to 2023, we remain committed to expanding our leadership position in the small/medium-size 401(k) space and to continuing to provide outstanding service and support to our clients,” said Parks.
About Ubiquity Retirement + Savings
Since launching Ubiquity Retirement + Savings in 1999, the company’s driving force has been to provide qualified retirement plans that meet the needs of small business owners. Our mission is to empower small businesses and their employees to create a more secure financial future by leveraging technology with affordable retirement solutions and world-class customer support.
Ubiquity is a leading fintech company that is one of the first flat-fee-for-service small business plan providers in the nation. With our exclusive, best-in-class Paradigm RKS™ cloud-based platform that automates recordkeeping and plan management functions, we’re able to deliver an easy-to-use experience and peace of mind with zero hidden fees. The company is headquartered in San Francisco with satellite offices from coast to coast. Ubiquity serves over 10,000 American small businesses and hundreds of thousands of savers. With over $3 billion in retirement assets, Ubiquity has clients in all 50 states, delivering a transparent, flat-fee, customizable savings experience. Our tenured team are retirement experts and future-you champions!
Visit myubiquity.com to learn more.
1Flat fees are charged by Decimal, Inc. for recordkeeping and administrative services. Third-party service providers may assess asset-based fees to customers. Plan Sponsors are advised to review all service agreements with providers (e.g., investment advisors, custodians, broker-dealers) to evaluate total plan costs.
Contacts
Gregory FCA for Ubiquity Retirement + Savings
Sarah Horton, 610-246-2346
[email protected]
