HSA Bank has announced an adviser-driven health savings account (HSA) investment program. It enables advisers to offer an open-architecture investment lineup so that they can customize the lineup for each of their clients. The program also enables advisers to view participant activity and performance online.
Advisers have the option to set asset-based fees on investments, as well as to receive HSA referral compensation. It gives advisers direct access to the recordkeeping platform so that they can set up and manage HSA investment options for their clients.
“HSA Bank’s new adviser-driven HSA investment solution combines our expertise in HSAs and advisers’ expertise in managing investments to enhance the plan sponsor and employee experience,” says Chad Wilkins, president of HSA Bank. “HSAs can be a valuable retirement savings tool, and we’re excited to work with advisers to positively change the ways employees manage their health care finances now and in retirement.”
Aspire Financial Services is providing the investment technology for the program.