Vestwell today announced a series of new and expanded partnerships with J.P. Morgan, Commonwealth Financial Network, Cambridge, and other firms within the advisory and fintech space. The 401(k) recordkeeper will expand J.P. Morgan’s recordkeeping options and help support Everyday 401(k), Chase’s small business 401(k) workplace savings platform.
“As the retirement industry is experiencing unprecedented growth, we remain committed to offering best-in-class solutions for our clients,” said Steve Rubino, head of Retirement at J.P. Morgan Asset Management, in a press statement. “Enhancing our offering by coupling a modern technology platform with an assigned client success professional, like Vestwell, will enable us to quickly and efficiently meet the increasing demand. Small businesses are seeking affordable and tech- forward retirement plans in record numbers, and we are proud to be able to deliver for them.”
Vestwell is also expanding its distribution partnerships with Commonwealth and Cambridge and growing its API integrations with payroll providers Gusto and Intuit QuickBooks.
In a statement, Aaron Schumm, founder and CEO of Vestwell, connects recent regulation and technological developments to a rise in demand for retirement planning solutions. “We’ve experienced unprecedented demand from financial advisors for the ability to offer retirement plans to their clients,” said Schumm. “These new partnerships and integrations signal the rapid growth across the savings industries with strategic interest from the world’s leading advisory and asset management firms.”
The news is the latest in a string of partnerships and industry moves with Vestwell. In March, RBC Clearing and Custody hired Vestwell as its new small plan 401(k) and 403(b) provider, while the Carson Group collaborated with the firm on a small-to-medium-sized business (SMB) 401(k) offering in January.
SEE ALSO:
- Vestwell CEO Aaron Schumm on Who Owns the Participant and What’s Next for Recordkeeping
- Corporate Roundup: C2P Enterprises Launches Women Advisory Program, RBC C&C Hires Vestwell
- Vestwell Partners with Carson Group on SMB 401(k) Offering
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
