Vestwell this week announced expanded distribution of J.P. Morgan Asset Management’s Everyday 401(k)—and an expansion of the Everyday 401(k)’s capabilities, including allowing financial advisors to serve as a 3(38) investment manager on the workplace retirement plan.
“Vestwell’s strategic partnership with J.P. Morgan Asset Management signals the industry’s emphasis on expanding access to premier workplace savings solutions.”
Vestwell founder and CEO Aaron Schumm
J.P. Morgan’s workplace savings platform for small businesses will continue to be offered through JPMorgan Chase business banking and will now be available to financial advisors, jointly distributed with Vestwell.
“Vestwell’s strategic partnership with J.P. Morgan Asset Management signals the industry’s emphasis on expanding access to premier workplace savings solutions,” said Vestwell founder and CEO, Aaron Schumm. “Through this partnership, advisors and employers can now implement J.P. Morgan’s Everyday 401(k) retirement plan into their benefits solution on our innovative savings platform. This news illustrates our ongoing commitment to serving the financial advisor community while amplifying the reach of our partners.”
In addition to the white-labeling of the firm’s platform, advisors benefit from omnichannel service, competitive pricing, advanced features, and enhanced employer engagement. Vestwell further supports its advisors with personalized onboardings, ongoing administration and maintenance, navigating complex legislation, and assisting with planning clients’ futures.
In 2023, J.P. Morgan Asset Management and Vestwell announced their partnership to expand J.P. Morgan Asset Management’s recordkeeping options and offer a best-in-class solution for their clients. This expanded partnership is the latest news highlighting Vestwell’s growth and commitment to reshaping the savings industry.
“J.P. Morgan is committed to providing industry-leading, smart retirement solutions to our clients, and we’re pleased to announce these important enhancements to our joint offering,” said Steve Rubino, Head of Retirement at J.P. Morgan Asset Management. “Enabling advisors to serve as a 3(38) investment manager, and complementing our own distribution with Vestwell’s team, will enable us to reach even more financial advisors and their clients with Everyday 401(k).”
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