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Articles tagged "Vestwell"


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Louis Harvey: ‘Fidelity adds value for employers that translates into profits.’
May 20, 2025 at 4:45 AM

Venkatesh Natarajan expects Vanguard's second -- Indian -- technology base to prove "central" to its ability to "adopt new and innovative technology."

RIABlitz: Vanguard technology • Pontera rebounds • Ex-HiddenLever's exec success • BlackRock rocked • Vivek's crypto • WF dunks SF? • Betterment dry option• Vestwell poached

The RIA firehose of news is rife with tactical moves to shore up voids, play catchup and react to a new concept of political tailwinds

January 11, 2025 at 3:01 AM

Aaron Schumm: We got to the point of saying okay this makes sense, let's make it happen.
December 22, 2023 at 12:59 AM

Danya Dumbrill: There’s an expansive opportunity for Vestwell to lead.

Aaron Schumm unveils expanded Vestwell vision -- and M&A plan -- and hires Danya Dumbrill to detail it as a 'strategy' to 'lead the savings industry' -- a leap from the 'grueling affair' of recordkeeping micro 401(k) plans

The Vestwell CEO hired the ex-Goldman Sachs executive as 'chief strategy officer' but with a budget and mandate to start buying up and stitching together 'savings' companies.

September 14, 2023 at 2:59 AM

Aaron Schumm: 'We are the only platform in the country that can do what we do.'
June 13, 2023 at 1:55 AM

Ron Carson: At Carson, this all points to becoming a single source of truth for our clients.

With AUM growth stalled since Bain bought $290-million stake in 2021, Carson Wealth is seeking greener 401(k) pastures by choosing Vestwell's 'dirt cheap' fees

The Omaha, Neb., RIA slid below $19 billion by end of 2022 but has a deal with Vestwell to encourage its RIAs to seek 401(k) plans

January 18, 2023 at 3:33 AM

Louis Harvey:  You could say the DOL is at the root of the problem.

Fidelity Investments reveals 'all-time high' 401(k) plan sponsor discontent, thanks to DOL monkey wrench that creates 'race to bottom,' key expert adds

Some 47% of plan sponsors are considering a new advisor, up from 34% last year, and 48% are considering a change of recordkeepers.

September 13, 2022 at 1:51 AM

Lori Hardwick: I prefer to be on boards where I am passionate about the company's mission.

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 at 8:58 PM

Aaron Schumm: We have a very clear path to profitability.

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

July 20, 2021 at 10:37 PM

Aidan Yeaw: This is the greatest forcing function in employee benefits since ACA/Obamacare.

Vestwell is in and Ascensus is out in Oregon as mushrooming 'force-function' state retirement plans spark heated bids to recordkeep; RIAs are angling for a cut, too

States may force millions of small employers to sponsor pensions, buoying VC-backed digital recordkeepers. But RIAs like Fisher Investments are trying to convince small businesses to set up their own 401(k) plans to meet new mandates.

December 17, 2020 at 9:34 PM

Aaron Schumm: The participant is no longer three steps removed from their actual money.

Four years into startup, Vestwell makes its big move -- nixing FIS's recordkeeping for the 401(k) super-bot it built with Goldman Sachs' VC money

The Aaron Schum start-up will start again as a turnkey pension program that allows RIAs to better unify 401(k) and non-401(k) practices and be searchable as database

April 9, 2020 at 2:11 AM

Rana Yared made the initial house call to Vestwell that led to a deepening relationship.

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 at 11:20 PM

The churn of talent in the RIA business no longer happens the old-fashioned way.

RIAs and RIA vendors churn talent madly in March and April '18 as 'New Moves in the Biz' captures 35 of them

Serial HR moves by Raymond James, FinMason, American Century and Vestwell helped them expand into new territories, add job descriptions and more varied product lines

May 18, 2018 at 9:23 PM

David Musto: It's completely realistic to think there could be a dozen or more acquisitions in any twelve month period.

Vanguard's 401(k) recordkeeper, Ascensus, gets set to roll up a world of third party administrators to create a small plan superpower

With recent Great-West poach and David Musto running the show the Dresher, Pa.-based TPA adds 14 firms in 16 months and sets sights on dozens more, as roll-up strategy takes flight

April 27, 2018 at 5:46 PM

Aaron Schumm: With the technology there's so much to do.

Vestwell jets ahead and adds pilots on the fly to keep startup on course

Founder Aaron Schumm is dealing with the dilemma/windfall of business coming over the transom ahead of projections

March 26, 2018 at 10:10 PM

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