Millennium Trust Company and PayFlex Are Now Inspira Financial

OAK BROOK, Ill., January 17, 2024 (Newswire.com) - Millennium Trust Company and PayFlex have rebranded as Inspira Financial. The new brand marks a significant milestone in the companies’ evolution into a comprehensive health, wealth, retirement, and benefits solutions provider to institutional business partners, employers, and individuals. Inspira unifies a diverse portfolio of technology-enabled solutions under a single purpose-driven brand focused on enriching lives and providing better outcomes for all.

Research shows a stressed workforce is less productive, with the consequences costing businesses an estimated $200 billion to $300 billion a year in lost productivity. As an experienced financial services and benefits provider, Inspira provides the resources and intuitive products businesses need to promote employees’ health and financial wellness, while also simplifying workloads and reducing friction for institutional partners and employers. Inspira offers a growing number of solutions to strengthen and simplify the health and wealth journey.

“Our clients expect a holistic approach to financial wellbeing,” Inspira CEO Dan Laszlo said. “Through our ongoing strategic acquisitions and a commitment to being purposeful collaborators with our clients, we now offer a complete set of solutions that can increase employee engagement and retention, help people meet their unique goals, and protect hard-earned savings.”

The Inspira brand reflects the company's deep, reliable expertise across the health and wealth journey, and its agility in the face of evolving needs and markets. It signals how the company transforms incremental, complex, and time-consuming everyday actions into life-changing impact, and continually shapes both new and improved solutions that drive lasting results for businesses and their employees. 

“We have enabled thousands of employers, recordkeepers, administrators, brokers, advisors, payroll providers, and other institutional partners to help Americans save and invest,” said Inspira Chief Marketing Officer Michelle Spellerberg. “Our new purpose-driven brand seeks to ‘inspire’ our clients to partner for positive change. We strive for a better today, a better tomorrow, and a better retirement for all by making financial wellness actionable and simple.”

Wealth and Retirement

Millennium Trust Company was founded in 2000 with a focus on individual retirement account (IRA) custody and administration. Over time, the company expanded into a broader set of retirement and wealth solutions, including retirement plan participant search services, white-label or direct IRA rollover solutions, automatic IRA rollover services, institutional fund custody, paying agent distribution services, and most recently through the acquisition of Accruit, qualified real estate 1031 exchanges. As one of the only independent financial services providers administering both traditional and alternative assets, Inspira positions institutional partners, investment sponsors, advisers, employers, and individual investors to capitalize on emerging market trends and unique opportunities.

Health and Benefits

Over the last two years, Millennium Trust also expanded its capabilities through strategic acquisitions of PayFlex, Benefit Resource Inc. (BRI), ProFlex, and Marpai, enhancing the company’s ability to provide health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), emergency savings funds (ESFs), commuter benefits plans, COBRA administration services, and other consumer-directed benefits. These expanded capabilities allow Inspira to offer a holistic approach to financial wellness.

“As Inspira, we are bringing our brand in alignment with what’s already in our DNA: a relentless drive to help people plan, save, and invest for their future,” Laszlo said.

Millennium Trust originally announced its plans to rebrand as Inspira in August.

About Inspira Financial 
Inspira Financial provides health, wealth, retirement, and benefits solutions that strengthen and simplify the health and wealth journey. With more than 7 million clients, representing over $62 billion in assets, Inspira works with thousands of employers, plan sponsors, recordkeepers, TPAs, and other institutional partners — helping the people they care about plan, save, and invest for a brighter future. Inspira relentlessly pursues better outcomes for all with our automatic rollover services, health savings accounts, emergency savings funds, custody services, and more. Learn more at inspirafinancial.com.

Source: Inspira Financial