Waltham, M.A., July 15, 2021 – Alegeus, the market leader in consumer funding technology, selected CAPTRUST Financial Advisors (CAPTRUST) as the registered investment advisor (RIA) for its modern HSA investment solution. Through this partnership, CAPTRUST, which advises more than $600 billion in assets and manages more than $60 billion, will oversee the investment process and select funds to power the fully automated solution within the Alegeus HSA investment experience.
Alegeus announced the new HSA investment solution in June at the company’s 2021 Alegeus Client Success Summit. The solution features real-time and fractional trading, a fully automated robo-advisor, and a range of investment strategies to accommodate investor risk levels. The platform also offers three distinct investing models for a tailored investment experience that meets the needs of a range of investors, from novice to expert.
- Managed model – Designed for novice investors who prefer to use an automated tool to select and manage their investments on an ongoing basis in accordance with their age, risk profile, and time horizon.
- Self-directed model – Designed for intermediate investors who have the desire to self-select from a menu of monitored investment options covering multiple asset classes to diversify their portfolios and rebalance them manually. This account type provides a balance between structure, control, and time requirements.
- Brokerage model – Designed for expert investors who desire to perform advanced research and trading across thousands of available investment instruments. This account type offers a hands-on, do-it-yourself approach to investing.
CAPTRUST provides investment advisory services for retirement plan sponsors, endowments, foundations and individual investors, including building and managing discretionary portfolios. In addition to managing the platform’s investments, the firm will provide research and assist with the overall program management that is a core part of the Alegeus HSA.
“Too often, individuals forget that HSAs can be a highly effective retirement savings tool and don’t realize the powerful benefits they can achieve by investing in these tax-efficient accounts,” said Scott Matheson, managing director, institutional group at CAPTRUST. “We are excited to bring CAPTRUST’s deep expertise and thought capital from the 401(k) industry to the HSA space. The Alegeus solution is leading-edge and goes beyond anything that currently exists in the HSA market, and we’re thrilled to bring our extensive investment management experience to help power it.”
“We knew CAPTRUST was the right choice to provide advisory services because their team understood right off the bat what we were trying to accomplish,” said Chris Rodkey, vice president of customer solutions and strategy at Alegeus. “To disrupt the HSA investment market, we needed a partner who could provide financial and investment insights and perspective to match what we bring to the table from the consumer funding side. We look forward to helping more consumers invest their funds for growth.”
In joining this partnership, CAPTRUST will become a leading RIA in the HSA investment space. Learn more about the Alegeus HSA investment solution here.
Alegeus is the market leader in consumer funding solutions, delivering the industry’s leading white-label platform that transforms how consumers save and pay for healthcare. Our next-generation technology simplifies the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care and commuter accounts) and COBRA, using data-driven insights to guide consumers to the best coverage, cash and care strategies. More than 350 Alegeus clients – including health insurance plans and third-party administrators – leverage our deep expertise and proven technology to administer benefit accounts for more than 30 million members and to process more than $9.1 billion in consumer healthcare payments annually. As part of the Vista Equity Partners portfolio of companies, Alegeus benefits from increased capital for strategic investments, access to exceptional toolkits, best practices and resources for success, and strong cultural and value alignment focused on talent development and growth. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.
Founded in 1997 in Raleigh, North Carolina, CAPTRUST is an independent registered investment advisor. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance for individuals and families. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis/fee benchmarking, and employee advice programs. With nearly 900 employees across more than 50 locations nationwide, CAPTRUST oversees more than $60 billion in assets under management and more than $600 billion in assets under advisement (as of June 1, 2021).