CalSavers, Ascensus Unveil AI Chatbot, Nationwide’s Eric Stevenson Retires
CalSavers, Ascensus Launch AI-Powered Chatbot
CalSavers and Ascensus announce the launch of CalSavvy, an AI-powered chatbot designed specifically for state-sponsored auto-IRA programs.
With over 600,000 employers mandated to register with CalSavers or offer a qualified retirement plan by the end of 2025, CalSavvy is designed to streamline user interactions with 24/7 access.
“With CalSavers’ new CalSavvy customer support solution, we’re leveraging the power of artificial intelligence to close the retirement savings gap across the Golden State,” said California State Treasurer Fiona Ma, who chairs the CalSavers Retirement Savings Board. “This bilingual service empowers both savers and employers with immediate access to accurate information about the CalSavers program, delivering on our commitment to help Californians build a secure financial future.”
“Ascensus is pleased to partner with the State of California to deliver this first-of-its-kind solution, helping California to expand retirement access to hundreds of thousands of Californians,” said Peg Creonte, president of Ascensus Government Savings. “This is an exciting expansion of Ascensus’ broader efforts to deploy AI in support of better client experiences and higher standards of delivery. The combination of Ascensus’ AI leadership and CalSavers’ forward-thinking stance on retirement savings availability demonstrates the power of public-private collaboration.”
CalSavvy answers common questions, in English and Spanish, about account setup, contributions, investment options, and retirement planning without wait times or business hour restrictions.
Currently, CalSavvy draws from the CalSavers public website and the California State Treasurer’s Office website to answer questions. The program also complements existing tools like recorded webinars, videos, and guides to make program onboarding and facilitation easier.
Future enhancements will include personalized account support and expanded language accessibility.
Ascensus administers two of the largest state auto-IRA programs—CalSavers and Illinois Secure Choice—which together represent 72% of the industry’s funded accounts and assets under administration.
Nationwide Retirement Solutions President Announces Retirement
Eric Stevenson, president of Nationwide Retirement Solutions, has announced his plans to retire next year.
Kevin Jestice, president of the Nationwide Investment Management Group will become leader of Nationwide Retirement Solutions, effective Oct. 1.
Stevenson joined Nationwide in 2006, beginning in life insurance marketing and rising through leadership roles in retirement plans marketing and distribution. As senior vice president of Retirement Plans Distribution, he led a national team supporting more than 2.5 million participants in preparing for and living in retirement. In 2019, Eric became president of Retirement Solutions, guiding the organization to over $200 billion in assets under management.
Stevenson also testified before Congress in support of the SECURE Act and other legislation aimed at improving retirement outcomes for millions of Americans.
“Eric’s legacy is one of advocacy, innovation and a commitment to helping people achieve financial security in retirement,” said Craig Hawley, president of Nationwide Financial. “We wish him the best in his retirement.”
Since 2023, Kevin Jestice has served as President of Nationwide’s Investment Management Group (IMG).
“Kevin will work with Eric over the next several months to ensure a smooth transition leading up to Eric’s retirement,” Hawley said.
Nationwide will conduct a search for Jestice’s replacement as leader of IMG starting immediately.
Betterment at Work, First Citizens Wealth to Offer SMB 401(k) Benefit
Betterment at Work is partnering with First Citizens Wealth to offer a 401(k) solution for small and mid-sized business clients.
The solution will service clients of First Citizens Bank, including its Silicon Valley Bank and CIT Bank divisions.
First Citizens Wealth will provide consulting services for the retirement program, including overseeing plan design, investment fiduciary services, investment selection and monitoring, and continuous benchmarking. Betterment at Work will serve as the plan’s recordkeeper, responsible for plan administration, a digital platform, and ongoing operational support services and employee resources.
“We’re thrilled to be partnering with First Citizens Bank in a strategic collaboration that expands access to our 401(k) offering,” said Matt Heater, senior director of Strategic Initiatives. “By aligning with a trusted financial institution like First Citizens, we’re combining their deep banking relationships with our cutting-edge, automated retirement platform. Together, we’re equipping growing businesses with the cost-effective financial benefits they need to attract and retain talent, and support their employees as they plan for the future.”
Ascensus Welcomes Investment, Wealth Solutions Leader
Ascensus announced that Josh Rundle will join the company as head of Investment & Wealth Solutions, a newly created role, later this month. Rundle will report to Ascensus Chair and CEO David Musto.
“As an independent, technology-enabled savings platform, Ascensus sees the benefits of connectivity across the workplace and savings ecosystems in support of our noble purpose ‘to help more savers save more,’ and enhance how we engage with our asset and wealth management partners to benefit our clients,” said Musto. “Josh’s leadership will add momentum to our current efforts and further strengthen the value we bring to savers, employers, and savings program sponsors, maintaining our long-standing alignment with our institutional partners, clients, and their advisors. We are uniquely positioned to support our partners in the democratization of the best investment and wealth solutions across virtually every form of tax-advantaged savings and to nearly 16 million savers, both in and out of plan.”
Rundle brings 17 years of experience at Transamerica spanning retirement, wealth management, and insurance solutions. He most recently served in roles including head of Retirement Solutions, president of Transamerica Retirement Advisors, and head of Product – Workplace Solutions.
He has a bachelor’s degree in mathematics and risk management from Illinois Wesleyan University. Rundle is a fellow of the Society of Actuaries, a chartered financial analyst and chartered enterprise risk analyst, and served as a board member of the American Benefits Council.
PGIM Announces Collaboration with Partners Group
PGIM, the $1.44 trillion global investment management business of Prudential Financial, Inc., and the global private markets firm Partners Group, have entered a strategic partnership to construct and deliver a suite of multi-asset portfolio solutions for individual and institutional investors.
“PGIM has a robust history of investing across market cycles and has built global scale across public and private markets,” said Stuart Parker, head of Global Wealth at PGIM.
“Given our unique position as an insurance-backed asset manager and one of the top global asset managers for defined contribution plans, we are well suited to provide solutions that are differentiated and scalable across various client segments. Our partnership with Partners Group deepens our firm’s ability to provide clients with market-leading, innovative and comprehensive multi-asset investment solutions that meet their evolving needs.”
The collaboration was established in response to growing client interest in alternative investments and rising demand for comprehensive investment strategies, PGIM and Partners Group state. It is designed to meet the complex needs of individual and institutional investors, both who are seeking turnkey, diversified exposure across public and private markets either as a stand-alone option or integrated within a defined contribution plan or insurance portfolio.
“Partners Group has been delivering bespoke private markets solutions since its inception,” said David Layton, CEO, Partners Group. “Today, we combine our transformational investing approach with the ability to tailor flexible portfolio solutions to meet a broad range of investor requirements. This partnership with PGIM stands testament to that and is another important step in broadening access to private markets for a range of end clients.”
According to the announcement, PGIM and Partners Group will collaborate to develop a suite of investment solutions designed to deliver broad diversification across multiple public and private markets asset classes to enhance portfolio outcomes. The solutions will be built with flexibility at their core, capable of functioning as stand-alone investments or being integrated into defined contribution (DC) plans, insurance portfolios and other investment structures.
SecureSave Reaches $100M+ in ESA Contributions
SecureSave announced that platform users have saved over $100 million toward unanticipated expenses, helping provide customers additional financial security. Beyond reaching the nine-figure mark, SecureSave also announced customers have used the ESA platform for more than 400,000 financial emergencies.
Co-founded in 2020 by Devin Miller and Bassam Saliba and personal finance guru Suze Orman, SecureSave is available to over 90,000 employees nationwide through 120 employers.
“We are proud to have reached this savings milestone because it means our platform has given so many the financial support they need,” said Devin Miller, CEO of SecureSave. “We have long focused on providing an avenue that’s easy for employers to implement and simple for employees to use. As a result, we’ve seen a nine-fold increase in users from just two years ago and a participation rate of 60% – a number that’s significantly higher than other elective benefits.”
Mutual of America Unveils Managed IRA Solution
Mutual of America Financial Group has launched the MoA Managed IRA product, in collaboration with Morningstar Retirement, IRALOGIX and Envestnet.
“The MoA Managed IRA is the next evolution in our retirement investing offerings,” said Chris Bailey, executive vice president, Individual Products and Third Party Distribution, at Mutual of America Financial Group. “We’re not just offering investment choices. Through our strategic partnerships, we’re providing a customized strategy for each account holder that can evolve over time, helping them to stay aligned with their specific goals from enrollment through retirement. We’re also making sure that they have robust customer support available to assist them throughout their journey.”
Through this collaboration, Morningstar Investment Management LLC, a registered investment adviser and umbrella entity for Morningstar Retirement, delivers personalized portfolio recommendations and advice to account holders through the Morningstar Retirement Manager platform.
Additional features include quarterly portfolio rebalancing and Morningstar Retirement Manager’s Income Secure feature which provides drawdown guidance to support those transitioning into retirement.
The MoA Managed IRA considers more than just an individual’s age. Investment and savings strategies are built around each individual’s income, risk tolerance, retirement timeline, and contribution behavior, delivering an enhanced level of customization.
“Investors are demanding more personalized retirement services, ones that are responsive and easy to navigate,” said James Smith, global head of Retirement Business Strategy at Morningstar Retirement. “This service meets that need with a professionally managed approach that adjusts over time to help individuals make more informed decisions and stay on track toward their long-term financial goals.”
The infrastructure behind the MoA Managed IRA is powered by IRALOGIX. In addition, Envestnet will provide non-discretionary portfolio management.
OneDigital Receives Majority Investment from Stone Point, CPP
OneDigital announced a majority investment from funds managed by Stone Point Capital and Canada Pension Plan Investment Board (CPP Investments).
The transaction values OneDigital in excess of $7 billion and will support the company’s growth through a combination of organic expansion and strategic acquisitions. Stone Point Capital and CPP Investments will make this investment through the acquisition of a stake from existing shareholders including Onex Partners, which will remain a significant minority owner.
“This commitment from Stone Point Capital and CPP Investments represents two high-quality investors aligning behind a single platform that integrates across a multitude of verticals,” said Adam Bruckman, president and CEO of OneDigital. “This partnership gives us the fuel to keep building – investing in both people and technology, while sharpening our capabilities and showing up even stronger for our clients. Over the past five years with Onex, we’ve meaningfully expanded our platform and are grateful for their continued investment.”
“OneDigital represents an opportunity to partner with a founder-led leadership team whose multi-decade track record of growth and innovation speaks for itself,” said Jarryd Levine, managing director at Stone Point Capital. “We are enthusiastic about OneDigital’s growth potential and look forward to collaborating with the team as we enter the next phase of value creation.”
“OneDigital’s strong culture and differentiated focus on its clients has helped create a resilient business that delivers essential advice and solutions for businesses and individuals. In this new investment alongside our valued partners at Stone Point Capital, we look forward to working with management and Onex, a long-standing shareholder, to support OneDigital in its continued expansion and impact to deliver value to the CPP Fund,” said Sam Blaichman, managing director, head of Direct Private Equity at CPP Investments.
Onex Partners will remain a significant investor in OneDigital, having first invested in 2020.
Evercore acted as lead financial advisor to OneDigital. Ardea Partners and Barclays also served as financial advisors, and Kirkland & Ellis provided legal counsel to the company. J.P. Morgan Securities LLC and RBC Capital Markets acted as financial advisors to Stone Point. Simpson Thacher & Bartlett LLP provided legal counsel and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided debt financing counsel to Stone Point. The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals.
Wealthspire Reveals Professional Dev Initiative
Wealthspire Advisors LLC has launched its “Find Your People” initiative—a firmwide professional development program designed to help advisors cultivate client relationships and define their personal brand.
According to an announcement from Wealthspire, “Find Your People” is a “strategic growth initiative that supports early-career and experienced advisors alike in building thriving, client-centered practices.”
The program includes workshops, mentorship, and training across branding style, client referrals, executive leadership development, and advisor media and AI training.
“We believe the future of financial advice lies in authentic relationships and personalized service,” said Michele Walthert, managing director and head of Advisor Success at Wealthspire. “Find Your People is about giving our advisors the tools and confidence to lead with who they are and to build meaningful, lasting connections with the clients they serve best.”
Modera Hires M&A Head
Modera Wealth Management has hired Vince Curtin as director and head of Mergers and Acquisitions, where he will spearhead the firm’s acquisition strategy and partnership development.
Curtin has more than 15 years of experience in wealth and asset management, with senior M&A roles at Transcend Capital Advisors, The Mather Group, and UBS Investment Bank. He will lead Modera’s efforts to identify and structure partnerships that support the firm’s long-term growth.