Online retirement account transfer platform Capitalize this week announced a new partnership with Webull, a leading digital investment platform, that it says will empower Webull clients to locate and transfer old 401(k)s into Individual Retirement Accounts (IRAs) within the Webull platform.
“We’re thrilled to partner with Webull and offer Webull users an efficient, digital way to find and consolidate their retirement accounts.”
Capitalize’s Gaurav Sharma
The new partnership combines Webull’s online brokerage platform and advanced trading tools with Capitalize’s Embedded Rollover API, the industry’s first API to help financial institutions power rollovers natively for their users. “By integrating Capitalize’s digital rollover technology, Webull users will enjoy a simplified and streamlined process to transfer legacy retirement accounts, like 401(k)s, into IRAs at Webull,” said a Feb. 25 press release. The enhancement enables Webull customers to more efficiently manage their retirement savings on a single platform.
“We are always leveraging technology to expand access and empower our customers in pursuing important financial goals,” said Arianne Adams, Chief Strategy Officer and Head of Derivatives at New York City-based Webull. “Retirement savings are a vital part of our users’ financial health, and our partnership with Capitalize offers them a seamless solution to transfer and manage their retirement savings directly through Webull.”
The release notes Webull joins a growing list of providers using the Capitalize Embedded Rollover API to help their users find and transfer retirement accounts and grow their platform assets in the process. Capitalize’s proprietary technology helps retirement account providers and their users instantly locate left-behind 401(k)s and consolidate them efficiently, avoiding the historically cumbersome “401(k) rollover” process.
“We’re thrilled to partner with Webull and offer Webull users an efficient, digital way to find and consolidate their retirement accounts,” said Gaurav Sharma, CEO and Co-founder of Capitalize. “Together, we’re working to help more Americans take control of their retirement savings and grow their wealth for a more secure future.”
By offering users a digital path to finding and consolidating retirement accounts, the release said the partnership will help reduce the $1.65 trillion of assets currently held in forgotten or left-behind 401(k) accounts, and help more Americans take control of their retirement savings.
The new offering will be available for Webull’s U.S. users in the coming weeks.
New York-based Capitalize is the first platform to help consumers and financial institutions digitally locate and transfer retirement assets, such as 401(k)s. The company’s platform has been recognized as one of TIME’s 100 Best Inventions, a World Changing Idea by Fast Company, and a Forbes Top 50 Fintech.
SEE ALSO:
• Capitalize Partners with M1 Finance
• Capitalize Closes $19M in Funding
• Access to 401(k)s Surges Past 70 Million in 2023: Capitalize
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
