“We founded this company as an institutional application service provider [ASP],” said Pete Kirtland, president of 401k ASP, in the announcement. “However, because of the increase in the variety of the retirement plans the company services – and our growing market presence – we are rolling all the company’s functions into a single name that more accurately encompasses this diversity – ASPire Financial Services.”
The company will transition to its new name and brand on January 1, 2010.
Kirtland noted that the company provides an online platform for many types of retirement plans, including 401(k)s, 403(b)s, 457s, and IRAs, so the names ‘401k ASP and 403b ASP’ “no longer accurately reflect our many capabilities.”
According to the announcement, the company saw a 200% growth in recordkeeping assets in 2009 and more than doubled its staff. More about the firm is at http://401kasp.net/.