"I want to leave a positive

impact on people on

whatever scale I can."


Aaron Schumm

Aaron Schumm39

Founder and CEO, Vestwell

Fast Facts

  • Had a scholarship for Division I in college football, but blew out his knee.
  • Follows U.K. soccer. Chelsea Football Club is his favorite team.
  • Mentors inner-city high school students, encouraging them to participate in skateboarding, surfing and snowboarding.

Aaron Schumm already co-founded and sold one financial services company, FolioDynamix. Now he's getting his second company off the ground: Vestwell, a digital platform advisers can use to manage 401(k) and 403(b) plans.

"I decided I was going into the financial industry in the eighth grade," Mr. Schumm said. "My dad was a carpenter, but dabbled in investing and spoke about the stock market. When I was a kid, I gravitated toward math and always found it interesting."

His first experiences working in the financial advice industry in Chicago were focused on retirement plans and managed accounts. That niche set the tone for his career, he said. After moving to New York, he focused on financial technology, or fintech. He's also been active with various charitable organizations, including being a mentor in a program for inner city, high school students that encourages them to participate in skateboarding, surfing and snowboarding.

"The mentees get to fall on their face, get up again and push themselves until they succeed, while learning life lessons along the way," Mr. Schumm said. "It's been so rewarding to watch these kids get exposed to people and situations in their lives that can be very intimidating, and then master them, becoming fearless in the process."

Mr. Schumm, who says he is passionate about "creating positive progress," shows the same devotion he has for mentoring in the work he does for his clients.

"I want to leave a positive impact on people on whatever scale I can," Mr. Schumm said. "Our sole intent is to help people save for the future and help people make better decisions in that process. And then they can take themselves to the next level."

– Bruce Kelly


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