Articles tagged "Vestwell"
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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
Christmas came early at Vestwell as it accepts $125 million of unsought capital; Lightspeed persisted for months, with an IPO already penciled-in as early as 2025
Lightspeed came out of nowhere, wanted in and Vestwell CEO Aaron Schumm liked the people and the money.
December 22, 2023 at 12:59 AM
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
Vestwell extends micro-plan 401(k) sponsor dominance after JPMorgan white-labels its platform, yet -- conditioned by history -- analysts still question if 401(k) king Fidelity walks away with plans and rollovers as accounts mature
The New York City startup cleans up on the low end by having cheap, automated software and legacy providers content to let them dominate -- for now.
June 13, 2023 at 1:55 AM
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
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
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
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
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
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
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
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
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
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
As Aaron Schumm's 401(k) startup gets $8 million the FolioDynamix founder loves Vestwell's odd juxtaposition to Fidelity
Vestwell attracts second big FMR seed capital tranche by co-opting advisors to go where the Boston 401(k) king is most challenged -- very small plan sponsors
