Updated 2026-03-20
Lincoln Financial vs Ascensus 401(k) Comparison
Compare Lincoln Financial (#17, 6.9/10) and Ascensus (#18, 6.8/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Lincoln Financial | Ascensus |
|---|---|---|
| Overall Score | 6.9/10 | 6.8/10 |
| Rank | #17 | #18 |
| AUM | $350 billion | $800 billion |
| Participants | 8 million | 12 million |
| Plan Sponsors | 10,000+ | 100,000+ |
| Founded | 1905 | 1975 |
Ratings Comparison
| Category | Lincoln Financial | Ascensus |
|---|---|---|
| Fees & Costs | 3.3/5 | 3.5/5 |
| Investment Options | 3.8/5 | 4.0/5 |
| Customer Service | 3.9/5 | 3.7/5 |
| Mobile App | 3.4/5 | 3.3/5 |
Fee Comparison
| Fee Type | Lincoln Financial | Ascensus |
|---|---|---|
| Admin Fees | Varies by plan size | Varies by advisor and plan |
| Expense Ratios | 0.10% - 1.5% | 0.03% - 1.5% |
| Trading Fees | Plan dependent | Plan dependent |
| Advisory Fees | 0.40% - 1.0% | Set by financial advisor |
Lincoln Financial Strengths
- Strong guaranteed income and annuity options
- Insurance-backed stability
- Lincoln Director platform for plan sponsors
- Managed account services through Lincoln Alliance
Ascensus Strengths
- Largest independent recordkeeper in the US
- Works through financial advisor network
- Supports 401(k), IRA, 529, and HSA plans
- Strong compliance and administration
Rollover, Loans & Withdrawals
| Feature | Lincoln Financial | Ascensus |
|---|---|---|
| Rollover Platform | Lincoln Financial Portal | Ascensus Portal |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Lincoln Financial portal, Phone (800-454-6265), Through plan administrator | Through financial advisor, Phone (800-345-6363), Plan administrator portal |
| Distribution Options | Lump sum, Partial withdrawal, Annuity conversion, Installment payments, Rollover to IRA, Required Minimum Distributions | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA, Required Minimum Distributions |
Which Should You Choose?
Choose Lincoln Financial if you want:
- Companies wanting guaranteed income options
- Insurance-focused employers
- Mid-size to large plans
- Annuity seekers
Choose Ascensus if you want:
- Financial advisor clients
- Businesses wanting advisor-guided plans
- Multi-plan employers
- Open architecture seekers
Our Verdict: Lincoln Financial vs Ascensus
Lincoln Financial wins this comparison with a score of 6.9/10 vs 6.8/10. Lincoln Financial excels with strong guaranteed income and annuity options, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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Lincoln Financial vs Ascensus: Complete 401(k) Comparison for 2026
Choosing between Lincoln Financial and Ascensus for your 401(k) is an important decision that affects your retirement savings. Lincoln Financial offers top 10 recordkeeper while Ascensus is known for largest independent. In terms of fees, Lincoln Financial charges 0.10% - 1.5% expense ratios compared to Ascensus's 0.03% - 1.5%. Lincoln Financial manages $350 billion in assets and serves 8 million participants, while Ascensus has $800 billion AUM and 12 million participants.
Key Differences: Lincoln Financial vs Ascensus
When comparing Lincoln Financial and Ascensus, consider their core strengths: Lincoln Financial excels with strong guaranteed income and annuity options, while Ascensus stands out for largest independent recordkeeper in the us. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Lincoln Financial's customer service rating is 3.9/5 compared to Ascensus's 3.7/5. For mobile experience, Lincoln Financial scores 3.4/5 while Ascensus scores 3.3/5.
Which Provider is Right for You?
Choose Lincoln Financial if you prioritize companies wanting guaranteed income options. Choose Ascensus if you're looking for financial advisor clients. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Lincoln Financial and Ascensus provider pages.
Frequently Asked Questions
Lincoln Financial scores higher in our 2026 rankings with 6.9/10. Lincoln Financial is best for companies wanting guaranteed income options, while Ascensus is best for financial advisor clients. The right choice depends on your employer's plan and your priorities.
Lincoln Financial charges expense ratios of 0.10% - 1.5% with admin fees of Varies by plan size. Ascensus charges 0.03% - 1.5% expense ratios with admin fees of Varies by advisor and plan. Lincoln Financial's fees rating is 3.3/5 compared to Ascensus's 3.5/5.
Yes, you can roll over between Lincoln Financial and Ascensus. Lincoln Financial uses Lincoln Financial Portal for rollovers, while Ascensus uses Ascensus Portal. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Lincoln Financial offers 401(k) loans. Ascensus offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Lincoln Financial scores 3.8/5 for investment options, while Ascensus scores 4.0/5. Both offer target-date funds, index funds, and managed accounts. Lincoln Financial's investment options include Mutual Funds, Target Date Funds, Fixed Annuities. Ascensus offers Open Architecture, Mutual Funds, Target Date Funds.
For small businesses, consider plan minimums and per-participant costs. Lincoln Financial is best for companies wanting guaranteed income options, insurance-focused employers, mid-size to large plans, annuity seekers. Ascensus is best for financial advisor clients, businesses wanting advisor-guided plans, multi-plan employers, open architecture seekers. Compare admin fees: Lincoln Financial charges Varies by plan size vs Ascensus's Varies by advisor and plan.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-20