$862B Workplace Savings Provider Ascensus Hires for New Advisor Liaison Role

Core Insights - Ascensus has appointed Josh Rundle from Transamerica to enhance connections between wealth and asset managers and its 16 million account holders, managing approximately $862 billion in assets [1][5] Group 1: Company Strategy - The new role aims to facilitate new capabilities and programs related to financial advice and wealth management, particularly in workplace retirement plans [2] - Ascensus intends to remove obstacles in accessing workplace financial advice, thereby adding more value to the savers it serves [4] Group 2: Market Position - Ascensus, majority-owned by Stone Point Capital and GIC, competes with major players like Fidelity Investments and Empower, which manage over $16.4 trillion and $1.8 trillion in assets, respectively [5] - The company sees a significant opportunity to collaborate with advisors and asset managers due to its independent model, which lacks competing divisions [6] Group 3: Industry Trends - There is a growing focus on connecting retirement plans to more lucrative financial advisor services and wealth management, as both recordkeeping and wealth management sectors seek to leverage the trillions in retirement assets [8] - Ascensus recognizes the need to curate investment solutions for the workplace, emphasizing personalized options and managed accounts [7]