FTC portfolio company Vestwell was recently featured in an article by TrustAdvisor. The publication sat down with founder Aaron Schumm to discuss the company and his hopes for making the 401(K) process easier for small to mid-sized businesses.
Enter Vestwell, Schumm’s new advisor-sold 401(k) platform, which provides an all-in-one technology-driven solution with TPA, recordkeeping, custody, investment management, communications and education at low cost – all while assuming all fiduciary risk. That means fewer decisions and less legal exposure for those decisions, a formula that takes a lot of the pain out of 401(k) design for small- and mid-sized businesses. “Folio was awesome, and I’m very, very proud of the FolioDynamix platform, but it was focused on the very, very affluent. In a lot of ways, we were just making rich people richer,” said Schumm. “With Vestwell, we’re focused on the vast majority of the population, the 75% of Americans whose only source of investment assets is their defined contribution or 401(k) plan. This is to help clients and everyone in the United States. ”