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Products September 21, 2016
Vestwell Introduces Fiduciary, White-Labeled Retirement Platform
The platform gives financial advisers the ability to better service employers and employees, the company says.
Reported by Rebecca Moore
Vestwell has introduced what it says is the industry’s first and only full-fiduciary, white-labeled retirement platform for the registered investment adviser (RIA) community.
Vestwell’s turnkey solution modernizes the traditional 401(k), 403(b), and defined contribution solutions by combining the best parts of automated investing with the human touch of trusted advisers, the company says. The full product suite includes investment services, trading, administration, custody, recordkeeping, and trustee services.
The recent U.S. Department of Labor’s “conflict of interest” rule changes the way investment advisers will have to run their firms. Vestwell would assume 3(38) and 3(16) fiduciary responsibility which ultimately will reduce both financial cost and legal liability, the firm says.
“Retirement savings is a $25 trillion market opportunity which we think is still best served by financial advisers. Vestwell’s mission is to provide advisers with a modern platform which reduces fees, increases transparency, and ensures compliance in a quickly shifting regulatory landscape,” says Aaron Schumm, founder and CEO of Vestwell.
More information may be found here.