Hortz: How does your technology substantially reduce retirement plan costs? Schumm: Technology is leveraged to drive plan cost down through scale, and integration, allowing Vestwell to compress our fees. For example, setup fees can range in the thousands of dollars. We only charge $500. Small-to-medium sized plans can cost as much as 3% or more. Our plans, with the advisor’s fee, plus more services than in a traditional plan, are a third of that cost. This can save plan participants hundreds of thousands of dollars over the course of their career.

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