Human Interest to Provide Recordkeeping for UBS
UBS announced on Tuesday its partnership with 401(k) provider Human Interest as a recordkeeping solution on its platform.
Human Interest’s recordkeeping services automates workflows involved with retirement plan management, like removing manual processes that require PDFs or spreadsheets.
The platform also works with over 500 payroll providers to allow employers to track ACH debits, monitor contribution flows, confirm funding status, onboard participants faster, and track employee contributions accurately.
“Advisors 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. This allows financial advisors to scale their practice and focus on high-value, holistic advice,” said Chris Cupolo, head of Strategic Partnerships at Human Interest.
Among the services Human Interest offers includes its Rollover Concierge service, QuickDeposit, and compliance features like Employee Data Alerts, 360 Degree Compliance Monitoring, Notice Delivery Protection, and Audit Relief. With its Rollover Concierge service, participants can rollover retirement balances to Human Interest plans, while its QuickDeposit feature allows for quick withdrawals.
“Human Interest is proud to provide UBS Financial Advisors with a fully integrated solution that simplifies the retirement landscape,” said Rakesh Mahajan, chief revenue officer at Human Interest. “Our award-winning, tech-forward platform eliminates the complexity of plan onboarding and administration for financial advisors, helping them capture more plan business. We’re focused on delivering the highest-rated4 401(k) customer experience, backed by our industry-leading Customer Experience Guarantee—which is a driving force behind Human Interest onboarding more than 2,000 new customers each month.”
The announcement comes a few months after the 401(k) provider said it would begin a price match guarantee for businesses soliciting offers from completing retirement plan providers. Among the services covered in this guarantee include annual administration fees, per participant fees, transaction fees, asset-based fees, and annual large plan audit fees.
Founded in 2015 and headquartered in San Francisco, Human Interest has helped provide retirement benefits to employees at over 45,000 companies.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.