Employees frequently asked questions
Click on the plus and minus icons to open and close FAQs.
What are the costs associated with ASPire Financial Services?
ASPire Financial Services charges $40 and 0.15% (1/15 of 1 percent) the value of the account annually.
For example if you had the account outlined below the fees would be as follows:
$5,000 Vanguard Growth & Income - VQNPX
$5,000 Vanguard Dividend Appreciation - VDAIX
$5,000 American Funds New Economy - RNGEX
$5,000 American Funds Balanced - RLBEX
$20,000 Total account value
$20.00 Custodial Fee - ($20,000 * 0.15% / 0.0015 / 15 bps)
$40.00 Account Fee
$70.00 Total ASPire Financial Services Fee
When are the fees applied?
Fees are charged at $3.33 and 0.0125% monthly.
Are there any fee offsets?
Yes, we will apply up to $20 of the $40 account fee to offset Third Party Administration (TPA) / Common Remitter fees. The fee offset is dependent on each Plan's fee arrangements with the TPA/Common Remitter.
Are there fees from the mutual fund company?
All mutual funds have internal fund management cost (expense ratio). Expense ratios vary by fund share class and fund asset class and are established and retained by the mutual fund company. There are no additional account fees charged by the mutual fund company.
Do I get charged an account fee for each fund in my account?
No, there is no additional charge per mutual fund investment and a participant may hold multiple fund families in their single ASPire Financial Services account. The annual account fee of $40 and 0.15% covers all ASPire Financial Services basic account fees.
If I have an existing account with a mutual fund company do I need to establish an account with ASPire Financial Services?
Yes, ASPire Financial Services acts as an approved investment provider within the Plan and ASPire Financial Services Enrollment Forms are required to establish an account. ASPire Financial Services accounts offer access to mutual fund investments that may no longer be available directly with the fund companies.
What happens to my existing 403b account?
You may transfer your existing 403b account into your new ASPire Financial Services account. You may also choose to leave it as an "orphaned" account with the existing provider, who is required to maintain your account and send statements.
What mutual funds are available?
ASPire Financial Services has access to a universe of over 20,000 mutual funds within over 400 fund families. Many plans are restricted to certain fund families by their district or TPA. You can find your choices in "Review your Plan Investment Options" on your district's plan site within www.403bplan.info.
If I select ASPire Financial Services as a provider, how do I establish an account?
If your district has approved ASPire Financial Services to be a provider within their plan, you may open an account by doing the following:
* Going to www.403bplan.info, from Employees page,
clicking 'Get Started & Enroll Now'
* Pulling up your district / non-profit by state
* Under QuickLinks, click "Plan Details"
* Under Forms: "Download the 403(b) enrollment form"
* Complete the enrollment form, and fax to the number listed on the bottom of the form
Do I need to complete a new salary deferral agreement?
Yes, so that your district knows where to send your contributions for your new account.
Can I retain the financial advisor on my account?
Yes, one of the advantages of using ASPire Financial Services is that you may retain the services of your current financial advisor, or choose another one, as long as the district does not have restrictions prohibiting them from using our platform.
Can I have an account without using a financial advisor?
Yes, another advantage of using ASPire Financial Services is that you can choose to self-direct your account, choosing whichever funds you wish from the approved list of fund families. Many participants have self-directed using fund companies with no-load options, and can continue to do so, often with the option of using fund families not available to them previously.
How do I access my account?
Once your account is established, you will receive notification of your account number, and a PIN to access your account through our site, www.403bplan.info. Once you have your logon info, you can go to this site, choose the Participant Logon under 'CURRENTLY ENROLLED', and view your account online, day or night.
Will I receive account statements?
As well as the online access, you will receive paper statements in the mail once every quarter.
Is ASPire Financial Services paid "revenue sharing" from mutual fund companies?
Certain mutual funds pay out part of their internal expenses to the investment providers, so in these cases ASPire Financial Services may receive some recompense from the fund company for providing these funds on their platform.
Where can I find an Enrollment Form?
Once on the site, select “Plan Search”. This link will give you the option to select your “State” and “Plan/District Name”. Next, please click on “Plan Details” located under Quick Links. Here you can find your plan’s most current enrollment form.
Where do I send the completed Enrollment Forms?
Fax to: 813.466.7523 ||| Email to: enrollments@aspirefinserv.com ||| Mail to: ASPire Financial Services ||| ATTN: Enrollments
5310 Cypress Center Drive Cypress Center II, Suite 101 Tampa, FL 33609