Ubiquity Retirement + Savings Company Profile

Background

Founded in 1999 by Certified Financial Planner Chad Parks, Ubiquity Retirement + Savings, originally known as The Online 401(k), was established to address the retirement planning challenges faced by small business owners. The company aims to democratize access to retirement plans by offering flat, transparent, and fair fee structures, enabling small businesses to provide competitive retirement benefits to their employees. Over the years, Ubiquity has evolved into a leading provider of affordable and effective retirement solutions, leveraging advanced technology and world-class support to empower small businesses and their employees toward secure financial futures.

Key Strategic Focus

Ubiquity's strategic focus centers on:

Core Objectives: Democratizing access to retirement plans for small businesses, ensuring affordability, transparency, and simplicity in plan administration.

Areas of Specialization: Providing 401(k) retirement plans tailored for small businesses, including Safe Harbor 401(k) plans and Solo 401(k) plans.

Key Technologies Utilized: Advanced online platforms for plan setup and management, automated compliance testing, and seamless payroll integrations to streamline plan administration.

Primary Markets Targeted: Small to medium-sized businesses across various industries, including construction, dentistry, healthcare, legal services, and technology sectors.

Financials and Funding

As a privately held company, Ubiquity Retirement + Savings has not publicly disclosed detailed financial information or specifics regarding funding rounds. The company has experienced significant growth, serving over 6,000 corporations across America, indicating a strong market presence and financial stability.

Pipeline Development

Ubiquity's primary focus is on the continuous enhancement of its retirement plan offerings, ensuring they meet the evolving needs of small businesses and their employees. The company emphasizes the development of user-friendly platforms, automated compliance processes, and personalized customer support to maintain its competitive edge in the market.

Technological Platform and Innovation

Ubiquity distinguishes itself through:

Proprietary Technologies: An integrated online platform that simplifies the setup and management of 401(k) plans for small businesses, offering features like automated compliance testing and seamless payroll integrations.

Significant Scientific Methods: Utilization of automated compliance testing and reporting tools to ensure plans adhere to regulatory standards, reducing administrative burdens for employers.

AI-Driven Capabilities: While specific AI-driven capabilities are not detailed, the company's emphasis on automation and technology suggests the potential integration of AI to enhance plan management and customer support.

Leadership Team

Chad Parks: Founder & CEO. As the visionary behind Ubiquity, Chad has been instrumental in shaping the company's mission to provide accessible retirement solutions for small businesses.

Tim Cowart: Chief Financial Officer. Tim oversees corporate financial strategy, focusing on long-term planning and capital requirements to enhance shareholder value.

Nasrin Mazooji: Chief Operating Officer. Nasrin has been with Ubiquity since 2013, playing a key role in operational management and strategic initiatives.

Hunter Claxton: Senior Vice President of Strategy. With over a decade of industry experience, Hunter leads strategic planning and business development efforts.

Peggy Otter: Vice President of Client Experience. Peggy brings over nine years at Ubiquity, focusing on enhancing client relationships and service delivery.

Melissa Chery: Vice President of Marketing. Melissa leads marketing strategies aimed at driving growth and brand awareness.

Mona Dhillon: Vice President of People and Culture. Mona is known for aligning human capital strategies with organizational goals to drive growth and innovation.

Neil Shifman: Vice President of Partner Ecosystem. Neil leads business development and relationship management teams, expanding Ubiquity's partner network.

Callie Adams Farnsworth, QKA®, CAFCA: Senior Director of Plan Compliance & Recordkeeping. Callie oversees all compliance department operations, ensuring regulatory adherence.

Suzanne Bulat: Director of Client Onboarding. Suzanne brings 26 years of experience, managing client onboarding processes to ensure seamless plan implementation.

Market Insights and Competitor Profile

The small business retirement plan market is characterized by a growing demand for accessible and affordable 401(k) solutions. As of 2024, Ubiquity manages over 14 million accounts and oversees more than $808 billion in assets under administration, indicating a substantial market presence.

Key competitors in the market include:

Employee Fiduciary: Offers low-cost 401(k) plans with a focus on transparency and simplicity.

Human Interest: Provides automated 401(k) administration with built-in investment advising, aiming to make retirement plans affordable for small businesses.

Guideline: Specializes in automated plan administration and compliance services, integrating seamlessly with payroll systems.

ForUsAll: Combines automated retirement plan administration with personalized employee communications and advisory services.

Transamerica Retirement Solutions: Offers customized retirement plans with a focus on comprehensive participant support and education.

Ubiquity collaborates with independent financial advisors and payroll companies to expand its reach and enhance service offerings, aiming to disrupt the traditional retirement plan landscape for small businesses.

Ubiquity's flat-fee, transparent pricing model differentiates it from competitors, providing cost-effective solutions for small businesses. The company's emphasis on automation and user-friendly platforms enhances operational efficiency and client satisfaction.

Future opportunities for Ubiquity include expanding its partner ecosystem, integrating advanced technologies to enhance plan management, and continuing to advocate for financial literacy and independence among small business employees.