Vestwell on WealthManagement.com

Aaron was recently inverviewed for an article on WealthManagement.com

Aaron Schumm, CEO of New York City-based Vestwell, believes retirement plans are an underserved market from a fintech perspective. He describes his company’s mission as “breaking down the friction points” that can develop in advisors’ work with plan sponsors. Those friction points include legal liabilities, costs and the cumbersome nature of designing and monitoring a plan, he says.

Besides working with 401(K)s and 403(b)s, advisors using Vestwell’s platform can propose, implement and manage custom cash balance plans and custom profit-sharing. Plan proposals start with advisors inputting details they’ve received from the plan sponsor, including the plan adoption agreement, employee census and other information from the sponsor’s Form 5500. The goal is to “design a plan that ensures all protected plan provisions are covered on their behalf, and will incorporate the services that will either meet or exceed what’s being offered today,” Schumm explains. The proposal includes a side-by-side comparison of the current and proposed plans; advisors can send the proposal through Vestwell’s platform and use online conferencing to discuss it. Vestwell’s target market is small- to medium-sized plans, says Schumm, although that audience could expand to the $25 million-plus plan size market as the firm adds features and functions to its service.

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Zainab Noorali named Client Success Manager

NEW YORK, NY, March 27, 2017 – Vestwell announced today that Zainab Noorali joined the company as Client Success Manager. In this role, she is responsible for customer portfolio development as well as retention and expansion with the firm’s top advisors and plan sponsor clients. In addition, Noorali is tasked with cross-company collaboration with various departments, ranging from sales, marketing, product development, technology, and operations.

“The retirement industry is ready for a change,” said Noorali. “Vestwell is disrupting the market with an innovative platform and I couldn’t be more excited to join the team and be a part of the journey.”

Prior to joining Vestwell, Noorali served as retirement product sales strategy manager at Empower Retirement and oversaw the participant experience while building relationships with plan sponsors and advisors. She started her career at JP Morgan as an asset management analyst, and most recently served as financial education consultant where she trained employees on product offerings for institutional clients.

“With over 10 years’ experience in the financial services and retirement industry, we’re excited to welcome Zainab to the Vestwell family,” said Aaron Schumm, CEO and founder of Vestwell. “As our company continues to rapidly develop and expand, Zainab’s experience exemplifies the type of talent that we’re recruiting to service our clients.”

Vestwell is the industry’s first and only fiduciary, white-label retirement platform for the financial advisor community and beyond. For more information about Vestwell or to inquire about how your RIA can leverage the platform, please visit: http://www.vestwell.com/.

About Vestwell Holdings, Inc.

Vestwell Advisors, LLC, a 3(38) and 3(21) SEC registered investment advisory firm, is a wholly owned subsidiary of Vestwell Holdings, Inc., specializing in 401(k), 403(b) and other defined contribution and benefit retirement investment management services. Built by an experienced team with an average of 18 years of financial technology experience and led by CEO Aaron Schumm, Vestwell assumes 3(38) investment management and ERISA3(16) fiduciary responsibility on the behalf of advisors and their plan sponsor clients. Learn more at Vestwell.com and on Twitter @Vestwell.

This is not an offer, solicitation, or advice to buy or sell securities in jurisdictions where Vestwell Advisors is not registered. An investor should consider investment objectives, risks and expenses before investing. More information is available within Vestwell Advisors’ ADV.  There are risks involved with investing. Investors should consider all of their assets, income and investments. Portfolios are subject to change. All opinions and results included in this publication constitute Vestwell Advisors’ judgment as of the date of this publication and are subject to change without notice.

Media Contacts:
Jessica Torchia
917-636-4804
Jessica.Torchia@ficommpartners.com

Vestwell Announces Debut White-Label Partnership with Kovack Advisors, Inc.

Fully-Automated 401(k) Platform Provides Added Legal Protection Ahead of DoL Rule’s April Compliance Deadline

NEW YORK, NY — NOVEMBER 15, 2016 — Vestwell, the industry’s first and only fiduciary, white-labeled retirement platform for the RIA community and beyond, announced today that it has secured an advisory firm partnership with Kovack Advisors, Inc, an SEC registered investment advisor. Vestwell’s retirement plan management solution will be offered through The Kovack Choice 401(k).

Vestwell’s digital platform combines the best parts of automated investing with a human touch. In addition to allowing for automatic plan testing and enrollment of plan participants, and generating fully-compliant notices and agreements, the product suite includes investment services, trading, administration, custody, recordkeeping, and trustee services. Vestwell can also act as 3(38) and 3(16),taking on as much of the fiduciary responsibility as is allowable by ERISA and reducing legal liability related to retirement plan asset advisement.

“Advisors are concerned about the U.S. Department of Labor’s ‘fiduciary’ rule and want to reduce their risk of non-compliance. At Vestwell, we take on that risk on behalf of both advisors and plan sponsors, while also delivering a turnkey, time-saving solution that boosts efficiency to make offering retirement plan services good business again,” said Aaron Schumm, CEO of Vestwell. “We’re thrilled to be partnering with such a forward-thinking, industry-leading firm like Kovack Advisors on our white-label platform with them.”

“At Kovack Advisors, we are dedicated to providing our clients and affiliated advisors with the latest technology to both enhance our service offerings and quickly adapt to the latest DoL rules and regulations,” said Chris Mills, Executive Vice President of Kovack Advisors, Inc. “Vestwell’s innovative retirement platform retirement plan management solution makes it possible for advisors to offer defined contribution plans again, even if they previously shied away from them because of the hassle and risk of previous solutions.”

The Kovack Choice 401(k) platform is currently available to select advisor clients and will be available to all Kovack Advisor Inc.’s clients in the fourth quarter. For more information on Vestwell or to inquire about a white-label platform, please visit: http://www.vestwell.com. For more information regarding Kovack Advisors go to www.kovackadvisors.com and/or advisorinfo.sec.gov.

About Vestwell Holdings, Inc.

Vestwell Advisors, LLC, a 3(38) and 3(21) SEC registered investment advisory firm, is a wholly owned subsidiary of Vestwell Holdings, Inc., specializing in 401(k) and other defined contribution retirement investment management services. Built by an experienced team with an average of 18 years of financial technology experience and led by CEO Aaron Schumm, Vestwell assumes 3(38) and 3(16) fiduciary responsibility on the behalf of advisors and firms. Learn more at Vestwell.com.

This is not an offer, solicitation, or advice to buy or sell securities in jurisdictions where Vestwell Advisors is not registered. An investor should consider investment objectives, risks and expenses before investing. More information is available within Vestwell Advisors’ ADV.  There are risks involved with investing. Investors should consider all of their assets, income and investments. Portfolios are subject to change. All opinions and results included in this publication constitute Vestwell Advisors’ judgment as of the date of this publication and are subject to change without notice.