In November 2020, we surveyed thousands of employees who were either using Vestwell’s platform for their retirement plan or were eligible to do so. Our 2020 Employee Retirement Trends Report explored how some of this year’s major topics, namely racial unrest, the presidential election, and the global pandemic, intersected with 401(k) plans.
Check out some of the coverage.
Envestnet has teamed with Vestwell to offer turnkey retirement plan solutions to financial advisors.
Vestwell is a digital recordkeeping platform that specializes in 401(k) and 403(b) plans. Through the new collaboration, advisors who use Vestwell’s platform can now access Envestnet’s 3(38) investment management services through Envestnet Retirement Solutions to provide clients with a turnkey solution.
Vestwell, a New York-based digital record-keeping platform, and Chicago-based Envestnet are partnering to create a turnkey retirement plan solution, the companies said in a release.
Vestwell announced a partnership on Wednesday with Envestnet to give advisors who use its platform access to Envestnet’s 3(38) investment management services. Envestnet will provide plan-level fiduciary services, while Vestwell manages recordkeeping and plan administration. Vestwell noted that “over time, the relationship will expand to include other Envestnet offerings.”
An experiment in live and on-demand digital content came to a successful conclusion with the last session of the Excel 401(k) 2020 Digital Series.
Diverging from the “virtual conference” format popular during the COVID-19 crisis, the series featured one session daily at 3:30 pm eastern and ran from September 14th through November 20, 2020.
It featured financial pundits and professionals from across the 401k industry, with a heavy emphasis on practice management and improving firm performance to benefit plan participants.
From fiduciary responsibilities, to the SECURE Act, to supporting employees, and beyond, here are 6 questions sponsors are either too busy to ask or don’t know they should be inquiring about.
A Vestwell report suggests the disconnect between SMB plan sponsors and advisors could lead to a missed opportunity to increase retirement plan participation.
The majority of plan sponsors (87 percent) in the small and medium-sized business (SMB) space said they spend less than 10 percent of their time managing their company’s retirement plan, and nearly 60 percent said plan success can be measured by the time it takes to manage the plan — the less time the better. A similar percentage said having no administration errors was a sign of a successful plan. Both markers fall under the category of saving time and work for the sponsor, according to a new report by digital recordkeeping platform Vestwell.
A new report based on the results of two separate surveys among plan advisors and plan sponsors looks at their perception of the industry as it relates to selling, adopting and maintaining plans.
Vestwell’s 2020 Retirement Trends Report analyzed these two profiles independently and comparatively to see where the groups align, where they differ and how they dictate current retirement trends. Conducted in August 2020, only advisors who sell retirement plans were allowed to respond to the advisor component of the survey, resulting in 434 responses. The sponsor survey included 164 plan sponsors that use Vestwell’s platform.
Vestwell, a digital retirement platform, surveyed 434 financial advisors and 164 plan sponsors in August to find out how they align, where they diverge and how they determine current trends in retirement.
Three out of four advisors in the survey said recordkeeping technology should be overhauled. Vestwell noted that their beliefs, versus those who believe that recordkeeping tech is fine as is, affected additional responses across the survey.