Subscribe to our mailing list

Subscribe to our monthly newsletter for noteworthy articles, simplified guides, and practical tips.

401(k) robo-revolution is underway


Tech upstarts are making inroads into 401(k) plans and that’s bad news for some retirement plan advisers.

Such fledgling companies as Betterment for Business, ForUsAll, Human Interest and Vestwell, as well as more established players such as Financial Engines, are using technology to deliver services to plan sponsors and participants that traditionally are offered by human advisers.

“Where do you best service your client — plan design, product selection, education services? We become the rest of that equation around the adviser,” said Vestwell founder and CEO Aaron Schumm. Read the full article here.

Retirement Plans; A Neglected Niche?

retirement plans

Since prospecting, selling and servicing retirement plans is such a complex, often inefficient, market, spread across many different stakeholders, it’s no surprise there has been a rise of digitally focused vendors seeking to reduce the inherent friction in building, implementing and servicing 401(k) plans. One of the more prominent is Vestwell, which calls itself the industry’s “first and only fiduciary-backed retirement platform for the financial advisor.”

Led by Founder and CEO Aaron Schumm, a serial entrepreneur who previously built and then sold FolioDynamix to a private equity firm (which then sold it to Envestnet), Vestwell still qualifies as a startup, but has recently been busy not just in finding additional capital but in partnering with advisor-focused firms like Riskalyze and Morningstar. They’ve added to their advisory board high-profile industry names like Josh Brown of Ritholtz Wealth Management and Lori Hardwick, formerly of Envestnet and Pershing, who recently founded Advisor Innovation Labs.

“Schumm says the lack of the necessary scale and structure for advisors to serve multiple retirement plans was the whole reason we built Vestwell”. Read the article here.

Fintech Report Card for January 2018

fintech“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 Vestwell Founder and CEO Aaron Schumm. More January news here.

Fintech Giants Roll Out Digital 401k Platform

digital 401k

Riskalyze unveiled “the first end-to-end digital 401k experience” Wednesday at the T3 Advisor Conference. Riskalyze Retirement Solutions, powered by Vestwell, is a digital platform designed to make it easy and profitable for advisors to propose, onboard and serve 401k plans.

“Through our joint platform, Riskalyze advisors will be able to create and manage retirement accounts quickly and painlessly, while meeting all compliance needs”

See the full article here.

Vestwell Integrates Morningstar 3(21) Fiduciary Services to Platform

fiduciary services Vestwell, a digital retirement platform, announced it will be offering a select list of investment options under Morningstar Investment Management LLC’s 3(21) fiduciary services program to Vestwell clients.

“We’re delighted to integrate Morningstar Investment Management’s 3(21) fiduciary services program, which complements our offering and provides advisers with a diverse, highly customizable set of retirement solutions for their clients”.

Read more here.

Retirement Plans Made Easy With Vestwell

The BZ Awards is an oscar-like event to showcase the companies with the most impressive technology, who are paving the future in financial services and capital markets. In preparation for its biggest installment yet this May, we’re profiling the companies who have moved on as a finalist in their category. In this feature we focus in on Vestwell.
“… we ultimately want to help people save more by making it easier to access really great plans” – Aaron Schumm. Read more here.