TIAA, Capitalize Partner on Streamlined IRA Rollover Platform
TIAA Wealth Management has teamed with fintech firm Capitalize to launch a new digital rollover experience designed to simplify how Americans consolidate retirement assets from former employers into TIAA IRAs.
The enhanced process uses Capitalize’s Rollover API to help investors locate and transfer eligible assets from old employer-sponsored plans into self-directed IRAs at TIAA. The goal: make rollovers faster and reduce the common friction points that discourage people from managing their full retirement picture.
“This partnership addresses a critical barrier in retirement planning: the friction that prevents people from consolidating and managing their savings,” said David Nason, CEO of TIAA Wealth Management and Advice Solutions. “When we remove obstacles and simplify the process, we help millions of people keep more of their money working toward the retirement they deserve.”
TIAA said the solution also supports access to its industry-leading lifetime income products, helping participants plan for more predictable income in retirement.
The collaboration builds on an earlier investment in Capitalize from TIAA Ventures, the firm’s strategic venture capital arm.