Vestwell and BNY Mellon Collaborate to Tackle State-Mandated IRA Programs Nationwide

 

 

 

 

Vestwell, a digital retirement platform, today announced a strategic relationship with BNY Mellon, the largest custodian in the world and global leader in investment management and investment services. Together, the firms will now offer 401(k), 403(b), and employer-sponsored IRA plans to BNY Mellon clients, accessible via Vestwell’s turnkey digital interface.

Through the collaboration, Vestwell will be tightly embedded in an open-architecture construct and offered to BNY Mellon clients nationwide.  Jointly, the platform will allow companies to bring modern solutions to state sponsored retirement programs as well as advisor-led 401(k), 403(b) and IRA programs.

“We couldn’t be more excited about working with one of the most respected financial institutions in the world to power state-led IRA savings programs as well as larger company sponsored retirement programs,” said Aaron Schumm, founder and CEO of Vestwell. “With BNY Mellon’s industry leadership and Vestwell’s digital solution, we’re working to ensure that all employees have practical investment vehicles in place.”

BNY Mellon’s wholly-owned entities– which include BNY Mellon Custody, Pershing brokerage services, Lockwood asset management, and Sumday – will be able to utilize Vestwell’s flexible and intuitive platform. This integrated offering will provide advisors a more comprehensive viewpoint into their plan sponsor companies and their employees’ retirement accounts.

“This collaboration with Vestwell cements our commitment to reshaping retirement account solutions for advisors, trust officers, companies, and employees alike” said  Doug Magnolia, Managing Director,  BNY Mellon Asset Servicing, “We’re proud to deploy such a powerful, tech-driven offering that will impact businesses nationwide and, more importantly, help set their employees up for success.”

For more information on the partnership please visit www.vestwell.com/news.

About Vestwell Holdings, Inc.
Vestwell is a digital platform that makes it easier to offer and administer 401(k) plans. Vestwell removes traditional friction points through a seamless plan design, automated onboarding, streamlined administration, and flexible investment strategies, all at competitive pricing. By acting as a single point of contact, Vestwell has modernized the retirement offering while keeping the plan sponsor’s and plan participant’s best interests in mind. Learn more at Vestwell.com and on Twitter @Vestwell.

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of September 30, 2018, BNY Mellon had $34.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Vestwell Works with Dimensional Fund Advisors to Optimize Retirement Income Planning

 

 

Advisors can utilize Dimensional’s Retirement Income Calculator to better assess the retirement readiness of their clients

NEW YORK, September 25, 2018—Vestwell, a digital retirement platform, today announced the addition of a new retirement income tool from Dimensional Fund Advisors(Dimensional), a global investment firm. Dimensional’s My Retirement Income Calculator is now fully integrated into Vestwell’s advisor and participant portals, giving advisors unique insight into how their clients are saving and enabling them to better support participants’ retirement income readiness.

The calculator, available to Vestwell advisors who utilize Dimensional funds, is designed to enhance their retirement offerings by allowing them to bring a more customized approach to employee retirement programs. The calculator gives advisors a clear line of sight into how much in-retirement income their clients might be able to afford. The income projections offered by the My Retirement Income Calculator also consider asset allocation shifts over time to help improve the reliability of those estimates.

“Vestwell was built to help advisors better service their clients, and Dimensional’s calculator perfectly supports that mission,” said Aaron Schumm, Founder and CEO of Vestwell. “Thanks to the integration ofthe My Retirement Income Calculator, Vestwell advisors can better assess the impact of their clients’ savings and investment decisions, allowing them to collaborate with clients to better maximize the chances of achieving desired retirement goals.”

“We’re excited to be working with Vestwell to offer the full functionality of our My Retirement Income Calculator, and thrilled that together we can help enhance the way advisors engage with their clients on retirement income,” said Dave Butler, Co-CEO and Head of Global Financial Advisor Services at Dimensional.

About Vestwell Holdings, Inc.

Vestwell is a digital platform that makes it easier to offer and administer 401(k) plans. Vestwell removes traditional friction points through seamless plan design, automated onboarding, streamlined administration, and flexible investment strategies, all at competitive pricing. By acting as a single point of contact, Vestwell has modernized the retirement offering while keeping the plan sponsor’s and plan participant’s best interests in mind. Learn more at Vestwell.com and on Twitter @Vestwell.

About Dimensional Fund Advisors

Dimensional is a leading global investment firm that has been translating academic research into practical investment solutions since 1981. Guided by a strong belief in markets, the firm helps investors pursue higher expected returns through advanced implementation. With clients around the world, Dimensional has 13 offices in nine countries and global assets under management of $582 billion as of June 30, 2018. Learn more at us.dimensional.com.

Vestwell Partners with Allianz Life Ventures to Provide a Digital Retirement Solution to a Distinguished Network of Advisors

NEW YORKJune 5, 2018 /PRNewswire/ — Vestwell, a digital retirement platform, announced today a strategic partnership with Allianz Life Ventures, part of Allianz Life Insurance Company of North America (Allianz Life), to offer its end-to-end retirement planning solution to Allianz Life’s extended network of advisors.

Vestwell enables financial advisors to more effectively service companies looking to launch or convert their 401(k) or 403(b) employee retirement programs. Allianz Life Ventures and affiliated businesses, entrenched in the independent broker dealer space, provide access to a strong network of top advisors who embrace modernization. Through this partnership, Vestwell will offer their technology services to more easily bring retirement plans to thousands of advisors across the Allianz Life network.

“Together, Vestwell and Allianz Life are redefining how the industry creates efficiencies around retirement program management,” said Aaron Schumm, Founder and CEO, Vestwell. “By leveraging Allianz Life’s advisor relationships and our unique value proposition, we can fulfill both of our promises to guide people towards a comfortable retirement.”

Through an open architecture investment solution, the partnership allows Allianz Life advisors to access a state of the art retirement platform and select retirement planning options that best suit client needs.

“Allianz Life Ventures is committed to identifying and working with the industry’s leading financial technology and services companies,” said Emily Reitan, Vice President of Business Development and Strategy, Allianz Life Ventures. “We are excited to bring Vestwell into the Allianz Life family and to work together to help bring additional innovation to the retirement industry.”

For more information on the partnership please visit www.vestwell.com.

About Vestwell Holdings, Inc.

Vestwell is a digital platform that makes it easier to offer and administer 401(k) plans. Vestwell removes traditional friction points through a seamless plan design, automated onboarding, streamlined administration, and flexible investment strategies, all at competitive pricing. By acting as a single point of contact, Vestwell has modernized the retirement offering while keeping the plan sponsor’s and plan participant’s best interests in mind. Learn more at Vestwell.com and on Twitter @Vestwell.

About Allianz Life Ventures

Allianz Life Ventures, part of Allianz Life Insurance Company of North America (Allianz Life), makes investments in North American companies with potential market traction and a demonstrated ability to drive innovation. Allianz Life Ventures is uniquely positioned to leverage the financial strength and in-house expertise of Allianz Life to help our partners succeed. Active in all investment stages from seed and early stage to growth, current partners include: Vestwell, Core Innovation Capital, blooom, tomorrow, LifeYield, Ladder and Gainfully. Learn more at Allianz Life Ventures.

SOURCE Vestwell Holdings, Inc.

Related Links

http://vestwell.com

 

Vestwell Partners With Namely to Provide a Seamless Digital Retirement Platform With Payroll Integration

Collaboration provides companies with a user-friendly, integrated digital retirement experience

NEW YORK, NY, April 12, 2018 – Vestwell, a digital retirement platform, announced today that it is partnering with Namely, a leading HR platform for mid-sized companies, to provide an all-in-one retirement experience for plan sponsors and their employees.

Vestwell’s retirement offering will now integrate into Namely’s platform. Through single sign on, users will gain access to key benefits and retirement information, all in one place. More importantly, the new offering provides payroll integration, thus removing the significant administrative burden from plan sponsors of providing ongoing payroll information and updated election deferrals.

“At Vestwell, our key objective is to modernize how retirement plans are offered and administered, and our partnership with Namely does just that,” said Aaron Schumm, founder and CEO, Vestwell. “By coupling Vestwell’s turnkey retirement solution with Namely’s humanized and savvy HR system, we’re able to create a more harmonious experience for the plan sponsor and their participants.”

Namely clients interested in Vestwell’s services for their retirement offering will benefit from a simplified payroll integration, fast and easy onboarding, transparent pricing, and streamlined administration.

“At Namely, we’re focused on providing mid-sized companies with best-in-class technology for all of their HR needs,” said Michael Manne, VP Sales, Namely. “We’re excited to partner with Vestwell to provide our clients with a like-minded, advanced technology solution that seamlessly integrates into our HR platform.”

About Vestwell Holdings, Inc.

Vestwell is a digital platform that makes it easier to offer and administer 401(k) plans. Vestwell removes traditional friction points through a seamless plan design, automated onboarding, streamlined administration, and flexible investment strategies, all at competitive pricing. By acting as a single point of contact, Vestwell has modernized the retirement offering while keeping the plan sponsor’s and plan participant’s best interests in mind. Learn more at Vestwell.com and on Twitter @Vestwell.

About Namely

Namely is the first HR platform that employees actually love to use. Namely’s powerful, easy-to-use technology allows companies to handle all of their HR, payroll, time management, and benefits in one place. Coupled with dedicated account support, every Namely client gets the software and service they need to deliver great HR and a strong, engaged company culture.

Namely is used by over 1,000 clients with over 175,000 employees globally. Headquartered in New York City, the company has raised $157.8 MM from leading investors, including Altimeter Capital, Scale Capital, Sequoia Capital, Matrix Partners, and True Ventures. For more information, visit www.Namely.com.

Vestwell Announces Four Strategic Appointments – Marking a Significant Breakthrough in the Company’s Growth

 

NEW YORK, NY, March 13, 2018Vestwell, a digital retirement platform, today announced the appointments of two new board members who will provide strategic counsel on areas including best practices, innovative ideas, and the firm’s trajectory. Drew Lawton joins the firm’s Advisory Board and John Moody joins the Board of Directors. Additionally, the firm has hired Benjamin Thomason as executive vice president of sales and John Skovron as chief technical officer (CTO). These strategic appointments support Vestwell’s dedication to enhancing their technology, supporting clients, and making retirement plans simpler and more accessible.

John Moody, founder and former president of Matrix, will leverage his knowledge as an operator and his position as an industry guru to enhance Vestwell’s value proposition by serving on the Board of Directors. John’s firsthand experience in building scale around a growing business makes him well suited to help Vestwell increase market share.

Drew Lawton, former CEO of New York Life and Pyramis – Fidelity’s retirement vertical, has recently joined Vestwell’s Advisory Board. As a former operator on the institutional side, Drew’s extensive wealth of knowledge in the financial services space will help steer the company to new strategic heights.

“Both John and Drew bring imposing knowledge from their careers in financial services and their insight will advance Vestwell’s mission to help advisors more seamlessly offer retirement plan services to their clients,” said Schumm. “I welcome them to Vestwell and look forward to hearing their valuable perspectives as Vestwell continues to poise for new growth.”

To support ongoing growth including the expansion of offerings and services, Vestwell has brought on two senior hires in Benjamin Thomason and John Skovron.

Benjamin Thomason joins Vestwell as executive vice president of sales from Goldman Sachs where he was responsible for developing institutional partnerships for Honest Dollar. With over 15 years of financial services industry experience, Benjamin will lead Vestwell’s sales and service operations with a focus on expanding the firm’s advisor relationships, building new strategic institutional relationships, and maintaining world-class customer service.

John Skovron previously served as senior vice president platform engineering at Integral Ad Science focusing on high throughput data collection, big data processing, software testing and release engineering, and technical and network operations. As the new CTO at Vestwell – and backed by over 30 years’ experience – John will serve as an invaluable asset as he drives Vestwell’s technological advancements.

“Vestwell continues to thrive due in large part to the many talented individuals that have come together,” said Vestwell CEO Aaron Schumm. “We are excited to have Ben and John join our team and reinforce our strategic game plan. They both bring abounding competence to their roles, and as we aim to expand our business model, their expertise will significantly augment our services and offerings.”

For more information about Vestwell, 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 can assume 3(38) or 3(21) 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

Riskalyze Retirement Solutions Goes Live at T3 Advisor Conference

Riskalyze Retirement Solutions, the industry’s first end-to-end digital 401(k) experience built around the RiskNumber® is now live!

Riskalyze Retirement Solutions is a digital platform designed to make it easy and profitable for advisors to propose, onboard and serve 401(k) plans. Powered by Vestwell, the joint product eases every step of the 401(k) plan process, from proposal to execution, all while utilizing the Risk Number to ensure plan participants achieve the proper asset allocation. Read more here.

Vestwell adds Morningstar Investment Management’s 3(21) Fiduciary Services to Further Support Financial Advisors in their Retirement Plan Decisions

Addition of Morningstar Investment Management’s curated fund menu enhances investment flexibility for financial advisors and plan sponsors

NEW YORK, NY, January 17, 2018 –  Vestwell, a digital retirement platform, announced today that it will be offering a select list of investment options under Morningstar Investment Management LLC’s 3(21) fiduciary services program to Vestwell clients.

Vestwell provides a platform that automates and digitizes the client recordkeeping and administrative experience so that advisors and plan sponsors can focus on developing a retirement plan that best suits their employees. The integration of Morningstar Investment Management services seeks to benefit financial advisors and plan sponsors by enabling them to address their fiduciary responsibilities while creating their own investment product lineup from menus of funds that Morningstar* has performed due diligence screening on.

“Equipping advisors and clients with a digital retirement experience that helps alleviate administrative and fiduciary burdens has been, and always will be, a top priority for Vestwell as we continue to expand our offering,” said Aaron Schumm, founder and CEO, Vestwell. “We’re delighted to integrate Morningstar Investment Management’s 3(21) fiduciary services program, which complements our offering and provides advisors with a diverse, highly customizable set of retirement solutions for their clients.”

Advisors will have access to a list of investments curated by Morningstar* that cover various asset classes and fund types, all of which follow strict guidelines centered on management, style and performance consistency, with an eye on expenses. The maintained list is embedded into the Vestwell platform, allowing advisors and plan sponsors to serve participants across various workforce demographics.

“Vestwell’s offering provides advisors with a modern, streamlined approach to retirement services,” said Brock Johnson, Head of Workplace Retirement Solutions, Morningstar. “We’re pleased to support Vestwell’s commitment to providing advisors with the retirement technology tools and services they need to assist plan sponsors.”

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 can assume 3(38) or 3(21) 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.

About Morningstar

Morningstar, Inc.’s mission is to help investors reach their financial goals. We were founded on the simple idea that when people have good investment information, they make better choices that lead to better outcomes. Our advocacy for the individual investor extends to the workplace market, where the responsibility for investing and saving for retirement now rests with employees and where we’re committed to helping those employees achieve financial freedom. The products and services of Morningstar and its affiliates range from advice and managed accounts to custom models, target-date solutions and fiduciary services. Our Workplace business includes Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc.

Vestwell Advisors makes available advisory services offering investment solutions and fiduciary support from Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., for plan sponsors. Morningstar Investment Management acts as a fiduciary under ERISA 3(21)(A)(ii) with respect to these services. Morningstar Investment Management is not acting in the capacity of advisor to individual investors. The Morningstar name and logo are registered marks of Morningstar, Inc. and Morningstar Investment Management and its affiliates are not affiliated with Vestwell Advisors.

* Investment research is produced and issued by Morningstar, Inc. or subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. Morningstar Investment Management has entered into a sub-advisory agreement with Morningstar Research Services LLC , an affiliate of Morningstar Investment Management, pursuant to which Morningstar Research Services will agree to, among other things, perform some services and/or other obligations on behalf of Morningstar Investment Management.

 

Media Contact:

Jessica Torchia

FiComm Partners

917-636-4804

Jessica.Torchia@ficommpartners.com

Vestwell Announces New Advisory Board of Six Industry Leaders including Josh Brown and Lori Hardwick to Provide Strategic Counsel on Company Initiatives

NEW YORK, Nov. 9, 2017 /PRNewswire/ — Vestwell announced today the creation of a new advisory board to provide guidance and advice as the firm experiences significant growth. As of today, the board includes six prestigious industry leaders.

Vestwell’s new advisory board will meet with the firm’s leadership team to provide strategic counsel. Discussions will revolve around best practices, innovative ideas, and sharing feedback on the growing company’s trajectory. The newly appointed Advisory Board members include:

  • Josh Brown, CEO of Ritholtz Wealth Management
  • Lori Hardwick, Founder & President at AI Labs, former Co-Founder & Group President at Envestnet, Inc. and Chief Operating Officer of BNY Mellon’s Pershing
  • Aaron Schildkrout, Global Head of Growth & Driver Product at Uber
  • Lowell Putnam, Co-Founder and CEO of Quovo
  • Jamie Bernardin, Former CTO at Integral Ad Science & Founder/President of DataSynapse (acquired by TIBCO Software)
  • Peter Kennedy, Former Chief Operating Officer TIAA Individual & Institutional Services, LLC. and former Chief Administrative Officer for the Managed Account Business at UBS Financial

Josh Brown, CEO of Ritholtz Wealth Management, is a renowned industry thought leader known for sharing market and industry insights on his blog, The Reformed Broker. “I am thrilled to be selected as an inaugural member of Vestwell’s new Advisory Board,” said Brown. “I’m excited to use my experience as a financial advisor to shed light on industry issues to help propel Vestwell’s effort of providing advisors with best-in-class retirement planning technology to the next level.”

Lori Hardwick, is an entrepreneur at heart, having been a co-Founder of Envestnet as Group President of Advisor Services, and most recently co-founding Advisor Innovation Labs. She has deep working knowledge of what drives advisors and how they can best service their clients. Her proven ability to grow, shape and lead a team in the FinTech & FinServ space is highly-valued. As it pertains to Vestwell, Ms. Hardwick states, “The company’s retirement technology solutions are changing the way advisors interact with their clients. I’m looking forward to providing counsel to the board on how to service advisors on all sides of the table, from technology to customer service perspectives.”

“In just about a year since launching, Vestwell has attracted thousands of financial advisors looking to offer low-cost retirement plan options on a platform that assumes fiduciary responsibility,” said Aaron Schumm, Vestwell founder and CEO. “We are thrilled to announce our new Advisory Board, which will continue to push us to innovate more, allowing us to create efficient and customized solutions for financial advisors – ensuring that plan sponsors have access to high quality, low-cost retirement plan options. It’s a true pleasure to be surrounded by such experts and thought leaders in the industry, as we take Vestwell to new heights.”

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

http://www.vestwell.com

 

Vestwell Announces New Joint Offering with Riskalyze to Deliver an End-to-End Digital 401(k) Experience Built Around the Risk Number®

The partnership will bring two of the financial advice industry’s leading financial technology platforms together for an optimal retirement planning and risk assessment experience

NEW YORK, NY, October 5, 2017 — Vestwell and Riskalyze today announced a new joint offering called Riskalyze Retirement Solutions, allowing advisors to access a new version of Vestwell’s retirement planning portal on the Riskalyze platform. The deep partnership will put Vestwell, the industry’s first fiduciary-backed retirement platform for the financial advisor community, and Riskalyze, the industry’s leading risk alignment platform, in the hands of financial advisors to better service employers and investors everywhere.

Aaron Schumm, CEO at Vestwell, was featured today during the main keynote address at the Fearless Investing Summit, where both companies discussed how the partnership will help advisors scale their practice, while enhancing the client experience, with compliance and a fiduciary mindset at the core.

Advisors will be able to simply log into the Riskalyze platform to generate 401(k) proposals and onboard clients electronically. In addition, plan participants will have access to pinpoint their own Risk Number® to help them get matched with the right asset allocation.

In addition to Vestwell’s 3(38) investment management services, the new joint offering will include access to several of the asset managers in Riskalyze’s Autopilot Partner Store. This will give advisors, plan sponsors and plan participants access to additional investment strategies, while still allowing Vestwell to assume ERISA 3(16) fiduciary responsibility on behalf of advisors and plan sponsors.

Overall, the new joint offering will allow advisors to clearly document their alignment and compliance with the pending DOL Fiduciary Rule, and demonstrate that they are acting in the best interests of plan participants. Users of the joint offering can look forward to the following features:

  • Operational Efficiency: The integration will remove an advisor’s administrative burden to sell, implement, and service retirement plans while handling both the HR participant notification process and the 5500 tax filing on the advisor’s behalf.
  • Holistic Planning: Riskalyze’s risk alignment platform will now enable advisors to offer an end-to-end digital 401(k) experience built around the Risk Number, by integrating risk assessment, goal analysis and asset allocation into Vestwell’s innovative experiences for advisors, plan sponsors and plan participants.
  • Scalability: By offering flexible, bundled or unbundled investment and fiduciary services, the digital platform will enable advisors to scale their business without heavy operational cost or burden. The platform does this by leveraging administrative services and fiduciary services as needed.
  • Enhanced Client Experience: With a streamlined and simple digital portal, advisors will be able to control the delivery of their client experience. By allowing advisors to deliver a consistent experience through an open-architecture, multi-custodian, multi-record-keeper platform, the platform will equip advisors to seamlessly guide clients in choosing investing strategies based on their individual needs while automatically rebalancing portfolios.

“At Vestwell, our number one priority is providing financial advisors with retirement technology that removes the administrative burden of implementing and servicing retirement plans,” said Vestwell CEO Aaron Schumm. “We’re thrilled to reach more advisors through our partnership with Riskalyze, an industry leader whose mission of equipping advisors with outstanding risk assessment technologies mirrors our own core values.”

The offering will be available to Riskalyze users including Registered Independent Advisors, Independent Broker-Dealers, investment managers, plan sponsors, and employees.

“Vestwell’s mission to make retirement plans affordable and accessible for all investors is reflective of our own hope: to empower fearless investing by providing investors with their true risk tolerance, and helping advisors align portfolios in the best interests of their clients,” said Aaron Klein, CEO of Riskalyze. “These shared values are what prompted us to choose Vestwell as our partner in delivering an end-to-end digital 401(k) experience built around the Risk Number.”

The integration will be available later this year. To introduce the offering to the advisor community, Riskalyze and Vestwell will be hosting joint webinars to help educate and train advisors using the platform. To learn more about Vestwell’s retirement planning platform, visit www.vestwell.com. For more information about Riskalyze, visit www.riskalyze.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 can assume 3(38) or 3(21) 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.

 

About Riskalyze

Riskalyze is the company that invented the Risk Number®, which powers the world’s first Risk Alignment Platform, empowers advisors to automate client accounts with Autopilot, and enables compliance teams to spot issues, develop real-time visibility and navigate changing fiduciary rules with Compliance Cloud. Advisors, broker-dealers, RIAs, asset managers, custodians and clearing firms use Riskalyze to empower the world to invest fearlessly. To learn more, visit www.riskalyze.com.

 

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

Vestwell Raises $8 Million in Series A Funding led by F-Prime Capital Partners

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

http://www.vestwell.com