Philadelphia-based PCS Retirement, one of the nation's largest independent retirement solution providers, was awarded the 2019 Charles Schwab Best-in-Retirement Business IMPACT Award on Tuesday at the Schwab Impact conference in San Diego.

The IMPACT Award, established in 2006 by Charles Schwab & Co., honor firms that have advanced the industry and have achieved success through exemplary business practices. To qualify, businesses in the advisory, recordkeeping and third-party administrator space must have operated for at least five years with $250 million in assets under management or more, managed more than 25 retirement plans and maintained 40 percent or more of assets under management in employee benefit plans.  

Founded in 2001 by tax and ERISA attorneys, PCS Retirement offers a high-touch, comprehensive qualified retirement plan program with cutting edge technology in a low-cost, independent and conflict-free package. They provide advisors with the ability to create customized programs and offer innovative tools and fiduciary support. The company doubled in size from 2014 through 2017 in terms of plans, assets under administration and participants, according to company release.

“We minimize friction for advisors, making it easy for them to offer sophisticated qualified retirement plans that integrate with broader wealth management solutions,” Mark Klein, CEO of PCS Retirement, said in the release. “We are honored to be recognized by this coveted award for our hard work in the retirement space.”

In July, PCS Retirement acquired Aspire Financial Services. The combined company provides recordkeeping services to 16,000 plans and 750,000 eligible participants representing more than $23 billion in assets under administration.