OneDigital and Ascensus Create Small Market 401(k) Solution

401k, retirement, MassMutual

Employees will thank you.

OneDigital and Ascensus recently announced the availability of a co-created small market solution for retirement plans that brings “institutional-quality employee services to plan participants.”

Called the OneDigital Complete Retirement Solution offering includes Personalized Portfolios, OneDigital’s managed account solution that gives employees access to personalized investment strategies and savings recommendations that are unique to their investor profile within the retirement plan, and Financial Elements, a wellness solution offered through OneDigital. Other features and services include:

Curb cost, reduce risk

OneDigital is one of the largest partners on Ascensus’ recordkeeping system, with more than 900 plans and upwards of $3.75 billion in assets under administration. The companies expanded their relationship after both were involved in the acquisition of Truist’s retirement business in the first quarter of 2021.

“The OneDigital small market solution is another example of Ascensus’ dedication to helping plan sponsors curb costs, reduce risk, and save time via access to institutional-quality employee services that help drive plan health and retirement readiness,” Jason Crane, Ascensus’ head of retirement distribution, said in a statement. “Our commitment to using our independence to offer partners like OneDigital the flexibility to design their own retirement programs has never been stronger, and we look forward to supporting their advisors and plan sponsor clients.”

“When it came to developing a small market solution, we recognized that Ascensus’ platform allowed us to deliver OneDigital’s best-in-class managed account and financial wellness solutions to clients in a highly integrated fashion,” added Vince Morris, president of OneDigital Retirement + Wealth. “Ascensus’ open-architecture platform and expertise in small business retirement plans, along with top-tier service excellence and distribution enablement capabilities, made it easy for us to design and offer a retirement plan solution that is customized at the plan level and personalized at the participant level.”

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