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Vestwell, Wealth Management


Retirement Plans: A Neglected Niche?

Published:

Feb 27, 2018


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Posted In:

Vestwell, Wealth Management

Published:

Feb 27, 2018


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Wealth Management magazine profiles Vestwell and CEO, Aaron Schumm, as part of a broader piece on the retirement space.

With Vestwell, the plan advisor’s life is made easier, since all the information needed to service the sponsor and the plan recipient “is all on the dashboard for the advisor.” The lack of the necessary scale and structure for advisors to serve multiple retirement plans was the whole reason we built Vestwell.

Vestwell also provides guidance on the advisor’s fee, based on benchmarking data.

So how does Vestwell get paid?

“Think of us an unbundled TAMP,” says Schumm. “We charge a fee to the company and the participant.” So far, some 70 RIAs have signed on to the platform. Recently, Vestwell signed a deal with Riskalyze, the risk tolerance platform, which will mean Vestwell will also be available to some 20,000 of that firm’s clients.

CEO Aaron Schumm is a serial entrepreneur who previously built and then sold FolioDynamix to a private equity firm (which then sold it to Envestnet).

Since 90 percent of DC plans are less than $5 million and a half-million employers don’t have plans, the small retirement space is a massive business opportunity.

Aaron Schumm, Founder and CEO - Vestwell

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