BERKELEY, Calif., June 15, 2020 /PRNewswire-PRWeb/ -- EvoShare, a microsavings oriented FinTech startup based in Berkeley, CA, and American Trust Retirement, a leading provider of best-in-class technology-enabled solutions for financial intermediaries and their clients, headquartered in Dubuque, IA, are announcing a partnership to offer a new source of retirement contributions to plan sponsors and participants — cash-back from everyday purchases. Through this partnership, plan sponsors that work with American Trust Retirement now have a new way to increase plan participation and contributions simply through employees' current spending habits.
EvoShare's proprietary system turns a percentage of every dollar spent at over 10,000 partnered local and online stores into additional contributions for a financial savings account like a 401(k), IRA, 529 College Savings Plan or HSA. American Trust Retirement has decades of experience using expert plan design, cost efficiency, service, and technology to create a fully customized retirement plan experience for plan sponsors.
"This partnership with American Trust Retirement paves the way to giving more plan sponsors an entirely new way to boost their employees' retirement savings," said Eugeny Prudchyenko, CEO of EvoShare. EvoShare is now able to expand access to its service as a unique retirement benefit as part of American Trust Retirement's offering.
Micah DiSalvo, Chief Revenue Officer of American Trust Retirement shared, "We are focused on providing the retirement plan advisor community with the next generation of a retirement plan experience, particularly when it comes to helping Advisors engage participants through a personalized approach. We are thrilled to partner with EvoShare to help leverage consumer spending to drive more retirement savings for the average American worker."
Together, EvoShare and American Trust Retirement will be able to provide employers across the nation with the unprecedented ability to increase their employees' savings habits without sacrificing anything from their paychecks.
EvoShare is a financial platform that enables employees to save for their 401(k) or 403(b) while shopping online and locally at stores, bars, and restaurants. The service allows employees to spend at their favorite businesses, and receive up to 20% cash-back toward their retirement plan through their employer.
EvoShare is the premiere cash-back retirement savings program that is giving employees a new, automated way to save for their 401(k). EvoShare provides employers with a "set it and forget it" experience where plan participants can spend as usual at over 10,000 participating businesses and receive up to 20% cash-back toward a financial account; 401(k) or 403(b) plan, IRA, HSA, student loan, or 529 plan. EvoShare has been featured in Forbes, Inc., Entrepreneur, and The Huffington Post. It won the 2019 DC Genie Award from 401(k) TV for "Best Financial Technology" and was a finalist for KNect365's 2019 Finovate Award for "Top Emerging Tech Company."
About American Trust Retirement:
American Trust Retirement is a leading, full-service provider of retirement solutions to small- and mid-sized plan sponsors. The company works with its financial intermediary partners to bring the major cornerstones of a quality retirement plan – plan design, fiduciary oversight, discretionary trust services, cost efficiency, service, and technology – to the small- and mid-sized market.
American Trust Retirement is a division of First Mercantile Trust, a non-depository trust company domiciled in Tennessee and is part of EdgeCo Holdings, a leading provider of best-in-class technology-enabled solutions for financial intermediaries and their clients that services approximately $120 billion in client assets under custody or administration and more than 10,000 financial advisors and 500 financial institutions. This client base includes registered representatives, investment advisors, and other financial intermediaries including retirement plan record-keepers, TPAs, bank trust departments, broker dealers, and insurance companies.