We are excited to have been a part of Asset TV’s most recent episode centered around retirement. Check out the video to hear what Vestwell’s Aaron Schumm, alongside other industry leaders, had to say by tuning in now.
Category: News Stories
Building A Modern Retirement Plan Offering
What happens when technology meets retirement? The Institute for Innovation Development interviewed Vestwell’s Founder and CEO, Aaron Schumm, to find out. Learn how a modern approach can address the “three major friction points of a retirement plan.”
Click here to read more about what Vestwell does differently.
INSART Gets an Insider’s Look at Vestwell
How exactly does Vestwell help make 401(k) planning simple? INSART’s CEO, Vasyl Soloshchuk, visited our office and got an insider’s look to find out. You can do the same by visiting INSART’s WealthTech page by clicking here!
Vestwell Recognized by RegTech 100
Vestwell is excited to be named one of 2018’s most innovative companies in regulatory technology by RegTech 100. The RegTech 100 recognizes companies that are transforming the regulatory technology industry and are quickly becoming important to financial institutions. Vestwell is proud to offer a solution that makes the complexity of regulating retirement planning a simple, streamlined process for financial advisors, companies, and participants.

NYC Startup Vestwell Raised $8M
Vestwell Raises $8 Million in Series A
As Vestwell’s Digital Retirement Platform Experiences Rapid Growth, Funding will be used for Market Expansion and Further Development of the Platform’s Technology
NEW YORK, Oct. 2, 2017 /PRNewswire/ — Vestwell, the industry’s first and only fiduciary-backed retirement platform for the financial advisor community, today announced $8 million in Series A Funding led by F-Prime Capital Partners, the venture capital group associated with the parent company of Fidelity Investments, with participation from Primary Venture Partners, FinTech Collective, and Commerce Ventures. Launched in late 2016, Vestwell received $4.5 million in its initial Series Seed of financing in September 2016.
Vestwell has grown rapidly this year with an exceptional market reception. As advisors look to better engage with their clients, while scaling their practice, Vestwell’s platform can be leveraged to facilitate every aspect of the advisor, company and employee’s needs. The unbundled, turnkey 401(k) and 403(b) platform becomes an extension of the financial services firm, helping to reshape how plan sponsors and employees are serviced. The multi-recordkeeper, multi-custodial technology can also incorporate 3(21), 3(38) and 3(16) investment and administrative services.
So far this year, the company has signed over 50 registered investment advisor (RIAs) firms, as well as independent broker-dealers, asset managers, and bank/trust custodians, with plans to onboard several thousand advisors this year. The funding will be used to grow the team while further enhancing the technology.
In conjunction with this funding news, Vestwell also announces Ben Malka as a member to the Board of Directors. Malka is a partner at F-Prime Capital and also serves as co-chairman of the Financial Services Venture Capital Association.
“We’re excited to increase our reach in the financial advice industry and continue to develop better technology for our clients,” said Aaron Schumm, Founder and CEO of Vestwell. “Vestwell was founded to provide advisors and plan sponsors with an affordable, compliant, and easy-to-use retirement planning solution to help close the retirement savings gap in America, and F-Prime has supported that mission since our inception. This announcement, combined with the outstanding leadership that Ben brings to the Board of Directors, is instrumental to Vestwell’s success.”
“Vestwell’s white-labeled platform provides financial advisors with the ease of compliance and automation while maintaining the human interaction that makes their businesses succeed,” said Malka. “By giving advisors and plan sponsors access to low-cost plan options, Vestwell is providing employees across the country with the tools and plans that can help them to retire happily.”
Vestwell is the industry’s first and only fiduciary-backed retirement platform for the financial advisor community. For more information about Vestwell or to inquire about how financial advisors can leverage the platform, please visit: http://www.vestwell.com/.
About Vestwell Holdings, Inc.
Vestwell Advisors, LLC is a SEC registered investment advisor, 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 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.
Source: Vestwell Holdings, Inc.
Related Links
Aaron Schumm named 40 under 40 by InvestmentNews
Our Founder and CEO, Aaron Schumm, was named 40 under 40 in InvestmentNews’ Class of 2017. InvestmentNews’ 40 under 40 project highlights young and influential talent in the industry. Click here to read how Aaron is making positive progress in the industry and mentoring future talent.
Vestwell Featured on ThinkAdvisor
Our CEO and Founder, Aaron Schumm, explains to ThinkAdvisor how Vestwell plans to lower costs for participants by streamlining plan design and implementation. Click here to read the article.
“When an advisor comes in [to a company] to talk about a retirement plan, it’s usually a brown bag lunch scenario, where the advisor tells the company ‘here’s everything you can do but I can’t tell you what to do,” said Aaron Schumm, CEO of Vestwell, a new platform that helps advisors evolve their business to suit the changing world of retirement plan investing. “That can be intimidating and confusing, and more importantly, can prove to be a costly process for a business.”
“Because we’re taking care of the headaches that come with setting up a retirement plan – the cost, the fiduciary aspect, the investment side – it means that employees can ultimately save more,” he said. “By becoming the only interface that an advisor or plan sponsor needs to design a plan, implement it and invest that plan on [employees] behalf, we’re saving everyone a lot of time, expense and headache.”
Gadget Girl: How Vestwell is Democratizing Retirement
Gadget Girl cracks the case on how Vestwell is democratizing retirement with Vestwell’s CEO and Founder, Aaron Schumm. Click here to watch the video on InvestmentNew’s site.
Aaron Schumm interviewed on WealthManagement.com
Vestwell’s CEO, Aaron Schumm, was recently interviewed for an article about Vestwell at WealthManagement.com. Preview the article below or read the full story on their site.
“When Josh Brown, the CEO of Ritholtz Wealth Management and author of the popular finance blog, “The Reformed Broker,” hosted the 2017 Benzinga fintech awards, he name-dropped Vestwell as a company with the potential to radically change the wealth management industry.
That’s right, Vestwell, a company looking to make it easier and more cost-effective for registered investment advisors to design, sell and administer 401(k) and 403(b) plans using digital automation. What exactly does Brown find so revolutionary?
“I get most excited about fintech when it solves a serious pain point for a practitioner like myself. It’s not like I’m saying they’re doing something that no one has ever done before,” Brown told WealthManagement.com. He added that his firm got started in retirement plan space a year ago, and is considering adopting Vestwell for some of their clients. But Brown thinks the user experience of Vestwell is such an upgrade over incumbent platforms that it could attract swahs of new advisors to the $6.8 trillion dollar defined contribution market currently dominated by large financial institutions.”