Ascensus Stands Ready to Assist Financial Professionals and Broker-Dealers with New DOL Fiduciary Regulations

Service provider will make it easy for financial professionals and broker-dealers to abide by new rules


Dresher, Pennsylvania–April 14, 2016Ascensus, the nation’s largest independent retirement plan and college savings services provider, is pleased to announce the development of a product offering that will provide much-needed simplicity and support for financial professionals and broker-dealers looking to comply with the Department of Labor’s (DOL’s) new fiduciary regulations that were announced on April 6, 2016. (See Ascensus’ April 2016 Retirement Spotlight for more information about the regulations.)


“We’ve been watching the developments surrounding the new fiduciary regulations with great interest, and we understand the challenges faced by financial professionals and broker-dealers,” says Todd Berghuis, Ascensus’ senior vice president of ERISA. “Now that the regulations have been finalized, we can move forward with providing them with the guidance they need.”


Ascensus has long been a leader in providing a fee-based platform for Registered Investment Advisors (RIAs) that offers flexibility for financial professionals looking to evolve their business model on a full-time, fee-for-service basis. The company is carefully studying the new regulations and will tailor its commission-based solution to be in line with them. Enhancements are scheduled to be available in the third quarter of 2016, and will be designed to ensure level compensation and a layer of additional fiduciary protection related to the management of a client’s investment lineup.


“Our product platform is designed to help financial professionals and broker-dealers comply with the new fiduciary regulations while minimizing disruption to their businesses,” states Steven Schweitzer, senior vice president of Ascensus’ Strategic Business Support Services. “Our ability to leverage technology and automation to ensure level compensation while offering an open-architecture investment platform and the flexibility to work within a desired business model makes Ascensus the easy choice for financial professionals and broker-dealers who want to comply with and thrive under the new standards.”


While financial professionals and broker-dealers may have had knowledge of various drafts of the new regulations, Ascensus anticipates that they will nevertheless be seeking assistance with the final guidelines as the new rules are reviewed and clarification from the DOL is provided prior to becoming effective.


“We’ve been working with financial professionals and broker-dealers to make sure that they’re comfortable with the new rules and the support we will provide them,” states Kathleen Connelly, Ascensus’ executive vice president of Client Services. “The ability to offer them a comprehensive product platform along with access to our ERISA experts will allow them to feel confident that they are adhering to the new standards as they service their clients.”


About Ascensus
Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 6 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 3.4 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


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