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PCS Retirement, Aspire ‘Connect’

Client Services

A pair of retirement plan service providers have combined forces, as PCS Retirement, LLC has acquired Aspire Financial Services.

According to a press release, the combined, 300-person organization provides conflict-free recordkeeping services to 16,000 plans and 750,000 eligible participants representing more than $23 billion in assets under administration. Together, Philadelphia-based PCS and Tampa, Florida-based Aspire will serve thousands of financial advisors, strategists and Third-Party Administrators (TPAs) across the United States.

As part of this transaction, Aspire senior leadership will join the PCS management team. Mark Klein, CEO of PCS, will be the CEO of the combined organization.

PCS Retirement, LLC (formerly known as Professional Capital Services, LLC, “PCS”), describes itself as “the Nation’s Premier Fiduciary Retirement Platform.” The press release notes that PCS was the “first recordkeeper to offer advisors a prospecting engine and benchmarking toolkit” and is now integrating with wealth management platforms, “enabling advisors to have a holistic view of all assets, retirement and non-retirement.” 

For its part, Aspire claims to be “the pioneer in flat-fee pricing, choice architecture and best-of-breed service delivery model.” The parties note that “the combined platform is now uniquely aligned with legislative tailwinds in favor of the establishment of retirement plans by small companies and growth in automatic enrollment.”

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