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Vestwell named as a Finalist for #XYPN17 FinTech Competition

finalist
XY Planning Network to name best-in-class innovation in Financial Planning

Bozeman, MT (July 24, 2017) – XY Planning Network (XYPN) is pleased to announce that seven finalists have been selected to compete in its upcoming Advisor FinTech competition, which is scheduled to take place on Wednesday, August 30, 2017 during the organization’s national conference, #XYPN17, in Dallas, Texas.

The XYPN FinTech Competition was created to help promote startup firms that are building technology solutions to help financial advisors better serve Gen X and Gen Y clients, thereby expanding access to financial planning. The popular competition, now in its second year and sponsored by Betterment for Advisors and Quovo, drew more than two dozen submissions, and the seven finalists were chosen by esteemed industry judges Michael Kitces (XYPN), Bill Winterberg (FPPad) and Joe Ziemer (Betterment).  To be considered, finalists had to meet one or more of the following requirements: have a tech offering that launched in the last 12 months, have less than $1 million in revenue to date, or be an existing company with a new feature that is substantially different from the parent company.

The finalists represent all corners of financial planning, from student loan repayment tools to automated investment solutions and a small business retirement plan platform. Each company will have the opportunity to introduce their technology offering to a large, tech-savvy audience of financial planning entrepreneurs, and #XYPN17 is anticipated to draw over 500 attendees next month. Finalists include:

• CSLA Tech Repayment Tracker aims to transform the financial services industry by helping advisors reduce the long-term consequences of student loans.
• DataPoints helps advisors strengthen client relationships using behavioral science, offering advisors a library of tools to assess client psychology and behaviors.
• Loan Buddy is a financial technology platform with a focus on providing solutions for advisors who want to be pioneers in student loan planning.
• RobustWealth aspires to be the best-in-class, low-cost-leading, next-level automated wealth platform for advisors.
• ROL Advisor aims to solve the challenge of adding value in a world where technology and competition are driving down the value of investment management.
• Tolerisk, using patent-pending technology, aims to revolutionize risk tolerance assessments by incorporating cash-flows to separately measure a client’s willingness and ability to take risk.
• Vestwell is a digital retirement platform striving to become an extension of the financial advisor’s services, acting in everyone’s best interests while scaling through technology and allowing financial advisors to focus on clients.

One deserving champion will receive a press release by PR agency FiComm, along with facilitated media introductions. Additional benefits for winning include promotional opportunities through a feature on Bill Winterberg’s FPPad.com, and Michael Kitces’ Nerd’s Eye View at Kitces.com. The champ will also receive interview opportunities to reach a large audience of financial planners on the #XYPNRadio podcast and via the
XYPlanningNetwork.com blog.

These promotional prizes are intended to help the most successful startup offering gain more rapid traction and advisor adoption. Last year’s winner, SnappyKraken saw an immediate impact from their big win. “Entering the XYPN FinTech startup competition was incredible for our business,” said Robert Sofia of SnappyKraken, “Within the first three months of winning, we went from zero to over $700,000 in sales, landed two large
enterprise accounts, and attracted significant investor interest.”

To learn more about each finalist, visit http://blog.xyplanningnetwork.com/advisor-blog/meet-our-2017-fintech-finalists. More information about the XYPN annual conference can be found at xypn17.com.

# # #About XY Planning Network:

About XY Planning Network:
The XY Planning Network is the leading organization for fee-only financial advisors who want to serve their Gen X and Gen Y peers providing comprehensive financial planning services for a monthly subscription fee and without product sales or asset minimums. The Network offers a virtual community for new and established financial advisors who want to serve a younger clientele, and provides its members compliance support services, marketing support, business tools and templates, and a wide range of technology solutions.

Media contact:
Jennifer Mastrud
XY Planning Network
Jennifer@xyplanningnetwork.com

Fiserv Adds Digital Retirement Planning Solution in Partnership with Vestwell

Single platform strategy unites retirement planning and wealth management

Fiserv

July 10, 2017 – Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it is integrating digital retirement platform Vestwell into its Unified Wealth Platform. This will enable financial advisors to access retirement planning and wealth management tools on a single platform, improving efficiency and facilitating a better experience for advisors and their clients.

Vestwell will also join the Wealth Management Network from Fiserv, which connects participants across the managed accounts industry.

“Our partnership with Vestwell brings retirement planning and wealth management together, empowering financial advisors while expanding the offerings and enhancing the value they can bring to their clients,” said Cheryl Nash, president, Investment Services, Fiserv. “The ability to offer a flexible, turnkey retirement platform provides advisors with a strong touchpoint and benefits peoples’ financial lives by reducing the time to investment and elevating the digital experience.”

Through the partnership, Fiserv and Vestwell are providing single access point convenience and low-cost, high-value automation, allowing advisors to open a 401(k) that sits alongside their clients’ other accounts that are managed either directly or through a third-party.

Vestwell is the only digital retirement platform that fully integrates the advisor, company and employee experience through a modern, configurable interface. The white-labeled solution allows advisors to deliver a consistent client experience through an open-architecture, multi-custodial, multi-record-keeping platform. Advisors have the option to bundle or unbundle their services while also leveraging administrative and fiduciary services as needed to scale their own advisory business.

Asset managers can also benefit from the solution, which enables them to provide mutual fund and ETF strategies that are managed based on risk tolerance or target retirement dates. As the DOL Fiduciary Rule is implemented, Vestwell helps asset managers align with the new regulations.

“Technology is fueling an industry movement towards holistic planning by helping advisors incorporate retirement planning services that extend beyond the reaches of wealth management,” said Aaron Schumm, founder and CEO, Vestwell. “Our partnership with Fiserv will serve to remove the administrative burden that advisors experience when implementing retirement plans, and will provide advisors with the tools they need to best serve their clients.”

Fiserv is a market leader providing innovative investment services solutions with five million managed accounts supported on its Unified Wealth Platform, representing over $1.4 trillion in assets under management. The Wealth Management Network from Fiserv provides industry access to a vast network of 70 sponsor firms, including eight of the top ten broker-dealers in the U.S., and support for approximately 300 asset managers with easy access to hundreds of model portfolio strategies. This facilitates real-time digital connectivity among all major market participants, including asset managers, broker-dealers, custodians, banks, aggregators, market utilities, advisors, investors and third-party partners.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.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 with an average of 18 years in financial technology, 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.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences that are in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World’s Most Admired Companies® for four consecutive years, ranking first in its category for innovation in 2016 and 2017. For more information, visit fiserv.com.

Vestwell Featured on ThinkAdvisor

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.”

Aaron Schumm interviewed on WealthManagement.com

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.”

Read More at WealthManagement.com

Robo Services Focus on Plan Marketplace

Aaron was recently interviewed 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.

Read more

Vestwell is a Finalist for the Benzinga Global Fintech Award

Benzinga Global Fintech Award

Vestwell is excited to be a finalist for the Benzinga Global Fintech Award. The Benzinga Fintech Awards were created to recognize innovation and excellence throughout the capital markets industry. The Benzinga gala and award will take place on May 11th in New York city. Come celebrate with us and register for the event. Use code [FOCUS] to save $300 off the registration fee.

Zainab Noorali named Client Success Manager

Zainab Noorali

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