Two Tech Bigs Team for ‘Digital 401(k)’ Experience

401k, technology, retirement, risk number

The partnership just fits.

FinTech giants Vestwell and Riskalyze announced a new joint offering at the Fearless Investing Summit in Lake Tahoe on Thursday.

The targeted team effort they dubbed Riskalyze Retirement Solutions allows advisors to access a new version of Vestwell’s retirement planning portal on the Riskalyze platform.

“The deep partnership will put Vestwell, the industry’s first fiduciary-backed retirement platform for the financial advisor community, and Riskalyze, the industry’s leading risk alignment platform, in the hands of financial advisors to better service employers and investors everywhere,” according to the companies.

Advisors will be able to log into the Riskalyze platform to generate 401(k) proposals and onboard clients electronically. In addition, 401(k) plan participants will have access to pinpoint their own “Risk Number” to help them get matched with the right asset allocation.

In addition to Vestwell’s 3(38) investment management services, the new platform will include access to several of the asset managers in Riskalyze’s Autopilot Partner Store.

“This will give advisors, plan sponsors and plan participants access to additional investment strategies, while still allowing Vestwell to assume ERISA 3(16) fiduciary responsibility on behalf of advisors and plan sponsors.”

Overall, the new joint offering will allow advisors to clearly document their alignment and compliance with the pending DOL fiduciary rule, and demonstrate that they are acting in the best interests of plan participants.

Users of the joint offering will have access to the following features:

The integration will be available later this year. Riskalyze and Vestwell will be hosting joint webinars to help educate and train advisors using the platform.

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