Capitalize and Bankrate Partner to Help Users Find and Roll Over Legacy 401(k) Accounts to Better Save for Retirement

·3 min read

The new partnership provides Bankrate users with a free way to find and roll over retirement accounts like 401(k)s through Capitalize’s online platform

NEW YORK, June 24, 2021--(BUSINESS WIRE)--Capitalize, the first independent platform to transfer retirement assets, and Bankrate, one of the most trusted names in personal finance, today announced a new partnership offering Capitalize's 401(k) rollover platform directly to Bankrate users and members, completely free of charge.

"Bankrate is one of the most powerful brands in personal finance, and we admire the company’s mission to help consumers make financial decisions in an honest, informative way," said Gaurav Sharma, CEO of Capitalize. "We’re thrilled to offer Bankrate users direct access to Capitalize’s 401(k) rollover platform for free -- and to partner with a team that shares our commitment to helping Americans effectively save for retirement."

For over four decades, Bankrate has been providing consumers with the tools and expert advice needed to guide them through saving and investing for retirement. The benefits of starting early and steadily contributing toward retirement are often underappreciated. In fact, a study by Bankrate found that the top financial regret for 1 in 5 Americans is not saving more for retirement.

"We are excited to partner with Capitalize as we continue to find ways to guide our audience through the financial decisions behind life's large and small moments," said Michael Sousa, General Manager of Wealth at Bankrate. "For retirement, that could mean navigating a 401(k) rollover, finding a more valuable savings account or taking a course on investing. Through our suite of free services we strive to promote better financial outcomes and we are thrilled Capitalize shares that vision with us."

The new partnership comes weeks after Capitalize unveiled the findings of its newest white paper, The True Cost of Forgotten 401(k) Accounts (2021). According to the research, which was conducted in partnership with leading policy experts including the Boston Center for Retirement Research, Americans have nearly $1.35 trillion left behind in retirement accounts that are connected to previous employers, resulting in the possibility of substantial foregone savings. By making it easy to find and roll over legacy accounts like 401(k)s, Capitalize helps individuals make the most of their retirement savings.

As part of the partnership, Bankrate users will be offered access to the Capitalize rollover platform directly from various Bankrate websites, at no cost. Through the Capitalize platform, Bankrate users will be able to digitally locate their legacy 401(k) account, compare from and open up a new individual retirement account (IRA) at leading financial institutions, and process their rollovers online with the aid of Capitalize’s platform and leading customer service team. To see how Bankrate’s customers can benefit from the Capitalize platform, click here.

About Capitalize

Capitalize is a New York-based fintech company that helps people quickly consolidate or "roll over" their old 401(k) accounts into a new or existing IRA - for free. Capitalize manages the entire 401(k) rollover process for users through an online alternative to the manual, paper-based process of transferring retirement accounts. Over time, Capitalize intends to help users manage all of their employer-sponsored and individual retirement accounts as they move throughout their career.

About Bankrate

Bankrate has guided savers and spenders through the next steps of their financial journeys since 1976. Whether it's rates or information on mortgages, investing, credit cards, personal loans, insurance, taxes or retirement, the company offers various free resources to help consumers reach their goals. From product comparison tools to award-winning editorial content, Bankrate provides objective information and actionable next steps. Bankrate also aggregates rate information from over 4,800 institutions on more than 300 financial products, with coverage in more than 600 local markets. It’s why over 100 million people put their trust in Bankrate every year.

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Reed Schneider
Prosek Partners

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