Vestwell, a New York-based digital record-keeping platform, and Chicago-based Envestnet are partnering to create a turnkey retirement plan solution, the companies said in a release.
Through the collaboration, advisers using Vestwell will be able to access Section 3(38) investment management services through Envestnet Retirement Solutions.
Envestnet will provide plan-level fiduciary services for Vestwell, which will handle record keeping and administration.
Over time, the companies said, the relationship will expand to include other Envestnet offerings.
[More: New Vestwell infrastructure removes traditional record keepers from retirement plan administration]
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