Ubiquity Retirement + Savings® Hits New Record for 401(k) Plan Sales Amid a Year of Workforce Changes

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With an increased investment in partnerships, Ubiquity is opening its doors wider to support firms in need of small-to-medium size retirement plan providers.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, November 15, 2022
Information
Tags: 
Small Business, Professional Services, Finance, Paradigm, Growth, Small business, SVP, Business Growth Fund, Business development, Ubiquity, Partnership, Bank
Geotags: 
CALIFORNIA, UNITED STATES, NORTH AMERICA, SAN FRANCISCO
Organisation: 
UBIQUITY RETIREMENT + SAVINGS
Summary
Key Points: 
  • With an increased investment in partnerships, Ubiquity is opening its doors wider to support firms in need of small-to-medium size retirement plan providers.
  • Since launching Ubiquity Retirement + Savings in 1999, the companys driving force has been to provide qualified retirement plans that meet the needs of small business owners.
  • Ubiquity is a leading fintech company that is one of the first flat-fee-for-service small business plan providers in the nation.
  • With over $3 billion in retirement assets, Ubiquity has clients in all 50 states and delivers a transparent, flat-fee, customizable savings experience.


Ubiquity Retirement + Savings (Ubiquity), a financial technology pioneer in flat-fee small business retirement plans, broke its record for new 401(k) plan sales faster than its most aggressive forecasts had projected. The firm anticipates exceeding additional records by year-end, including record-breaking number of plan participants, plan sponsors, TPAs, and financial advisor relationships.

New 401(k) plan sales at Ubiquity have been strong since its inception in 1999. As the workforce undergoes a seismic shift with an average of 4 million employees switching jobs each month from January to March 2022, businesses are placing a greater emphasis on holistic benefits packages that support and retain employees as well as withstand industry competition.

Ubiquity remains dedicated to supporting plan sponsors, participants, TPAs, and financial advisors amid the Great Resignation by pivoting to address new opportunities in the workplace.

“We had a banner year as small business owners across industries such as professional services, benefit and insurance agents, retirement and wealth management advisors, payroll firms, credit unions, law firms, healthcare doctors, dentists and other gig workers increasingly responded to the need for competitive retirement plan offerings that differentiate them amid the great talent war,” said Chad Parks, Founder and CEO of Ubiquity. “We are honored to serve as a trusted partner for small business owners and to provide security for themselves and their employees,” said Parks. “We are proud of the progress we have made, especially in the areas of partnerships and Single(k) sales, and look forward to continuing to invest in these priorities.”

Business Highlights:

Ubiquity is poised for more record growth, and the company is building a strong foundation with the following key new hires:

  • CFO
  • CRO
  • SVP, Head of Marketing
  • Director, Partner Marketing
  • Additional Customer Service Support Team Members

“We have generated exciting growth in both our partnership business and client categories, and achieved this by executing our long-term strategies, actively responding to changing client needs, and aggressively seeking new opportunities,” said Michael Bissett, VP, Business Growth. “As we finish out 2022, we will continue to focus on expansion, performance, and supporting our amazing team,” said Bissett.

With an increased investment in partnerships, Ubiquity is opening its doors wider to support firms in need of small-to-medium size retirement plan providers.

“It’s been amazing to be part of this expansion of new business,” said John Farmakis, SVP of Business Development. “For too long, small and medium-size business 401(k) needs were underserved. Now, our white-glove customer service keeps all our clients satisfied, and I could not be more excited about our future.”

About Ubiquity Retirement + Savings

Since launching Ubiquity Retirement + Savings in 1999, the company’s driving force has been to provide qualified retirement plans that meet the needs of small business owners. Our mission is to empower small businesses and their employees to create a more secure financial future by leveraging technology with affordable retirement solutions and world-class customer support.

Ubiquity is a leading fintech company that is one of the first flat-fee-for-service small business plan providers in the nation. With our exclusive, best-in-class Paradigm RKS™ cloud-based platform that automates recordkeeping and plan management functions, we’re able to deliver an easy-to-use experience and peace of mind with zero hidden fees. The company is headquartered in San Francisco with satellite offices from coast to coast. Ubiquity serves over 10,000 American small businesses and hundreds of thousands of savers. With over $3 billion in retirement assets, Ubiquity has clients in all 50 states and delivers a transparent, flat-fee, customizable savings experience. Our tenured team are retirement experts and future-you champions!

Visit myubiquity.com to learn more.

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