MissionSquare Adds Brokerage and Robo Advice for $73.6 Billion Retirement Base via Apex
Updated
Updated · Wealth Management · Aug 10
MissionSquare Adds Brokerage and Robo Advice for $73.6 Billion Retirement Base via Apex
3 articles · Updated · Wealth Management · Aug 10
Summary
MissionSquare will roll out brokerage accounts, including IRAs and taxable accounts, plus robo-advisory services for public-sector retirement clients through Apex Fintech Solutions.
Apex’s Ascend Investor platform will power self-directed and robo investing, with Apex Clearing providing custody, while MissionSquare rebrands its broker/dealer as MissionSquare Wealth Management.
Shannon Hogendorn will lead the expanded unit as head of wealth management, and the firm’s ADV says CFP-certified representatives will deliver point-in-time financial plans with updates at least every 12 months.
MissionSquare, which manages more than $73.6 billion and focuses on 457(b), 403(b) and 401(a) plans, is pushing further into wealth services as recordkeeping fees decline and margins are higher elsewhere.
The move builds on MissionSquare’s 2025 hire of Betsy Schroeder to expand out-of-plan products and targets a public-sector market where analysts say the firm already has relationships with millions of potential clients.