Public.com partners with Capitalize to modernize 401(k) rollovers
Investing platform Public and Capitalize, a platform for digital retirement account transfers, today announced a new partnership to help Americans and Public members better save for retirement.
Under the partnership, Public has integrated Capitalize’s leading Rollover API to help its members effortlessly transfer legacy 401(k)s into Individual Retirement Accounts (IRAs) directly on the Public platform, allowing them to better keep track of and grow their retirement savings over time in the same place as where they invest.
By embedding Capitalize’s innovative Rollover API directly into its onboarding process for retirement account members, Public has taken what was once a months-long process to fund IRAs through rollovers and transformed it into a simple, frictionless experience. Public’s IRA members will now be able to quickly find old 401(k)s and submit rollover requests digitally by using the Capitalize rollover experience, natively.
This seamless integration significantly improves the member experience by eliminating the hassle of navigating the rollover process without help, and accelerates asset growth for the Public platform.
“Many of our members have left behind 401(k)s at former employers, and we know they want to consolidate them at Public,” said Stephen Sikes, COO of Public. “We view Capitalize’s Rollover API as a no-brainer solution that helps our members roll over in a simple, user-friendly way to easily consolidate their retirement accounts at Public.”
“We’re very excited to partner with Public and help its members take control of their retirement savings,” said Gaurav Sharma, CEO and Co-Founder of Capitalize. “Institutions like Public continue to innovate the investing experience in America, and partnerships like these are critical as we work to help more Americans better save for retirement by easily finding and transferring their retirement savings into one place.”
Public joins a growing list of financial institutions leveraging the Capitalize Embedded Rollover API to grow their retirement assets and better serve their users.
This offering will be available for U.S. Public members in the coming weeks.