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Vestwell raises another $70-million, which it needs as it burns cash to keep up with rapid tripling of its 401(k) recordkeeping startup -- driven both by RIAs and Wall Street

Wells Fargo's co-led the round of the New York City-based innovator, which hints it may follow Morgan Stanley, Voya Financial and BNY Mellon in being an investor that also becomes a customer

Tuesday, July 20, 2021 – 10:37 PM by Oisin Breen
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Aaron Schumm: We have a very clear path to profitability.

Related Moves

After 401(k) account growth catapults ahead of curve, Vestwell CEO scrambles to make big hires and abdicates chairmanship to freed-up Lori Hardwick

Eying projected 300% plan sponsor growth, Aaron Schumm has promoted one executive, added another and reshuffled Vestwell's board, putting Hardwick on top.

October 14, 2021 – 8:58 PM

How Aaron Schumm got Goldman Sachs' brightest young star aboard; he jammed in a meeting for a friend and accepted an offer he couldn't refuse--$30 million

The Vestwell CEO gets Rana Yared, the 35 year-old Goldman partner, on his board as part of the $30-million round she made happen

July 2, 2019 – 11:20 PM



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