Booming Business, Product Expansion Drives Name Change for Retirement Plan Recordkeeper

‘ASPire Financial Services’ Reflects Diverse Spectrum of Options

TAMPA, Fla.--(BUSINESS WIRE)-- Tampa-based 401k ASP, Inc. saw a 200-percent growth in recordkeeping assets in 2009 which has led to the company more than doubling its staffing in that time period, as well as a name change to better reflect the expanding product lineup.

“We founded this company as an institutional application service provider [ASP],” said Pete Kirtland, president of 401k ASP. “However, because of the increase in the variety of the retirement plans the company services – and our growing market presence – we are rolling all the company’s functions into a single name that more accurately encompasses this diversity - ASPire Financial Services.”

“ASPire provides an online platform for many types of retirement plans, including 401(k), 403(b), 457 and IRAs,” Kirtland said. “The names ‘401k ASP and 403b ASP’ no longer accurately reflect our many capabilities.”

“In the midst of a sluggish economy, we attribute our success to our ability to provide solutions to the regulation changes in the industry, the continued strong and increasing demand for open-architecture investment platforms and the company’s extremely competitive fee structure,” said James Olson, one of ASPire’s principals. “With the new fee disclosure regulations forthcoming, we anticipate a significant increase in our business from the marketplace that is frustrated with higher-cost providers offering limited investment options and the lack of fee transparency.

The company will transition to its new name and brand on Jan. 1, 2010.

About ASPire Financial Services

Formed in 2002 and based in Tampa, FL, ASPire Financial Services is a leading provider of recordkeeping services and technology to the retirement industry in the U.S. and Puerto Rico with more than $2.3 billion of recordkeeping assets, approximately 135,000 participants and 5,000 retirement plans. With 100 employees and offices in Tampa, St. Petersburg, Fla. and Denver, the company’s current product offering includes 401(k), 403(b) and 457 and IRAs and Defined Contribution plans. The company is a member of the American Society of Pension Professionals & Actuaries (ASPPA), National Tax Sheltered Accounts Association (NTSAA) and the Council of Independent 401(k) Recordkeepers (CIKR).

ASPire Financial Services
James Olson, Principal/CMO, 813-874-0671 ext. 204
[email protected]

Source: ASPire Financial Services