Vestwell announced last week that it is building on its offerings for advisors who provide retirement plans for small and midsize businesses. The company has expanded its support for groups of plans and is rolling out new programs for multiple employer plans and pooled employer plans.
Vestwell offers a fully digital process that advisors and third-party administrators can use to set up retirement plans and manage multiple plans simultaneously. Plan options are available to both existing and new 401(k) plans. Vestwell’s MEP offering is designed to support professional employer organizations, associations, franchises, and small business affiliates.
The 2019 SECURE Act made it easier for unrelated small companies to participate in a common retirement plan via pooled employer plans and multiple employer plans, an approach that makes offering a retirement plan more affordable for small businesses. PEPs have also gotten a boost in recent years as states enacted auto-IRA measures that require smaller employers to provide retirement plans.
“We’re proud to expand our pooled and multiple employer plan solutions and offer advisors additional tools for serving the small plan market, delivering on the high level of inbound industry demand,” Richard Tatum, president of workplace savings at Vestwell, said in a statement.
The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.
The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.
David Lau, founder and CEO of DPL Financial Partners, explains how the RIA boom and product innovation has fueled a slow-burn growth story in annuities.
Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."
Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
