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American Trust Retirement Services has announced a five-year agreement with retirement plan technology provider iJoin to grow the full-service retirement plan provider’s solutions for advisers serving the small and midsized market.
American Trust will deploy iJoin’s technology strategy to scale in-house retirement plan programs and grow its business process outsourcing (BPO) white label institutional offering.
The partnership allows American Trust to fuel company growth though iJoin’s personalized retirement plan enrollment experience, managed account program and engagement engine for advisers, the company states.
“It’s one thing to aspire to scale, it’s another to deliver a superior user experience supported by technologies that are at once flexible and robust to meet the business requirements of our clients and partners,” says Micah DiSalvo, chief revenue officer for American Trust. “iJoin has helped us come to market sooner with a well-differentiated offering that has reduced cost, risk and, importantly, time to market when you compare it to building and supporting a solution in-house.”
The partnership will present retirement plan participants with an experience that includes individualized enrollment, a managed account option and education and financial wellness tied to each user. American Trust made the agreement because iJoin can drive access to deep, real-time data from American Trust’s recordkeeping platform to produce helpful data analytics and insights on plan health and participant retirement readiness. Additionally, advisers can access data-driven insights and customized email campaigns that target participants who need assistance.
American Trust’s deployment of iJoin includes EXPLORE, an education and financial wellness extension of the participant experience that draws on the same underlying data to present a personalized path for each user. User inputs in EXPLORE automatically update iJoin and the recordkeeping system.
“We strongly believe the winners ahead will be those companies that invest in technology and rapid business performance improvements to deliver a highly personalized, cost-efficient, goals-based savings experience and adviser managed account program,” says Steve McCoy, CEO of iJoin.