PASADENA, Calif.--(BUSINESS WIRE)--Vertical Management Systems (VMS) is pleased to announce its selection of Ascensus as the preferred recordkeeper for plan sponsors on the Retirement Revolution platform. VMS will no longer service plans internally in order to focus on development of the Retirement Revolution platform as well as its process-and-control and data aggregation products. As a result of increased interest in these regulatory technology tools, VMS is committing 100% of its resources to developing innovative technology and software solutions for the financial services industry.
VMS chose Ascensus to be its preferred service provider due to its close working relationship and a shared commitment to the small 401(k) plan space. With Ascensus, VMS is confident that its Retirement Revolution clients will continue to enjoy quality, cost-effective recordkeeping services.
“Ascensus was a natural choice for us because they have been using our process-and-control and data aggregation technology – the backbone of Retirement Revolution – since 2009,” said Kevin Rafferty, President and Chief Executive Officer at VMS. “By leveraging their existing infrastructure, Ascensus is well-suited to provide a seamless transition for the plan sponsors on our platform.”
“The fact that VMS chose Ascensus for their Retirement Revolution clients shows a tremendous amount of trust in our technology and recordkeeping platform,” said Michael Narkoff, Executive Vice President of Sales at Ascensus. “We look forward to rewarding that trust by providing the best possible service experience for those third-party administrators, advisors, and their clients while continuing to build and strengthen our relationship with VMS.”
About Vertical Management Systems, Inc. (VMS)
Vertical Management Systems (VMS) is one of the nation’s leading providers of data, financial networking, and account aggregation technology. For 25 years, VMS has designed, developed and hosted accounting and securities process-and-control solutions for the largest financial institutions in the United States. VMS’ three core products include Retirement Revolution, a next-generation retirement platform; Mutual Fund Desk (MFD), a mutual fund process-and-control platform; and Specialized Information Services (SIS), a comprehensive source of customized and audited financial data. VMS is a NewSpring Holdings portfolio company. For more information, please visit www.vmsholdings.com.
Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 7 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 47,000 retirement plans, over 4 million 529 college savings accounts, and a growing number of ABLE 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.