Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Vestwell Enhances Retirement Plan Platform
The enhanced platform enables advisers, payroll companies and enterprise partners to focus on their core competencies.
Vestwell has announced a series of recordkeeping platform enhancements meant to deliver “more efficient, flexible, secure and cost-effective” 401(k) and 403(b) plans.
Vestwell says its improved platform can provider higher quality retirement plans for smaller plan sponsors and employers. Its platform provides the infrastructure to handle a flexible plan design with custom investment management options, delivered to participants in a fully white-labeled construct.
Platform enhancements include that company and employee records are now fully centralized and maintained in-house. Vestwell can also step in as a full 3(16) plan administrator, maintaining employee eligibility, loans and distributions, notices, and compliance testing on behalf of the plan sponsor.
Additionally, as part of a partnership with a third-party custodian, Vestwell has created an infrastructure that simplifies the cash movement and investing capabilities of individuals in and out of a workplace offering. The platform further enables advisers, payroll companies and enterprise partners to focus on their core competencies.
You Might Also Like:
Asset Managers Exploring Fresh Avenues to Bring Alts Into DC Plans
401(k) Traders Shifting to Fixed Income
SEC Charges 12 Financial Firms for Recordkeeping Failures
« Plan Size, Average Account Balance Are Drivers of Plan Fees