DRESHER, PA – Ascensus, the nation’s largest independent retirement plan and college savings services provider, announced today that it has partnered with Devenir, a national leader in customized investment solutions for Health Savings Accounts (HSAs), to offer the Devenir myHSAinvestments (https://myhsainvestments.com/) solution and private-labeled HSA investment platform (http://www.devenir.com/solutions/) to banks and credit unions.
“Integrating Devenir’s HSA investment solutions and platforms into the Ascensus portfolio deepens the consultative value we deliver to banks and credit unions, which ultimately influences what they can deliver to individuals,” said Steve Christenson, executive vice president at Ascensus. “It’s a significant opportunity to tap into the explosive growth and potential surrounding HSAs right now while helping people protect their healthcare dollars.”
Devenir’s myHSAinvestments is a white-label solution for HSA custodians to provide investments as a feature to their HSA offering without having to integrate platforms. The firm’s HSA investment platform helps clients gather and retain more HSA assets through a solution that includes investment custodial services, independent investment consulting, and a wide array of mutual fund choices through Devenir’s open-architecture platform.
The strategic marketing agreement allows Ascensus to offer Devenir investment solutions to key financial institutions, thereby tapping the rapid growth of HSAs as a forward-looking financial planning tool. According to the recent Devenir HSA survey (http://www.devenir.com/research/2015-year-end-devenir-hsa-research-report/) and research report, HSAs reached $30.2 billion in assets and 16.7 million accounts by year-end 2015, and had exceeded $33 billion in assets during the month of January.*
“This is the ideal partnering of Ascensus and Devenir capabilities,” said Eric Remjeske, president and co-founder of Devenir. “While Ascensus has decades of experience successfully working with financial institutions to provide the latest and most effective consumer savings products available, at Devenir, we’re known for our ability to seamlessly customize HSA investment solutions and platforms that help individuals make the most of their healthcare dollars.”
Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 6.5 million Americans save for the future. With more than 35 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 40,000 retirement plans and over 3.5 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts and is home to one of the largest ERISA consulting teams in the country. For more information about Ascensus, visit www.ascensus.com.
Based in Minneapolis, Devenir is an industry-leading investment firm and national leader in customized investment solutions for HSAs and the consumer-directed health care market. Devenir offers a host of investment solutions to meet the unique needs of employers, banks, third party administrators, health plans and individual account holders. The company is also known for its leadership in HSA research and market analytics. To learn more, visit www.devenir.com.
*Projections derived from 2015 Year-End Devenir HSA Market Survey, press releases, previous market research, ad market growth rates. Projections are barring any regulatory or market environment changes. Forward-looking statements are based on current expectations and assumptions based on historical growth, the economy, other future conditions and forecasts of future events, circumstances and results.