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Portfolio company Vestwell announced a partnership with Envestnet to give advisors who use its platform access to Envestnet’s 3(38) investment management services. Envestnet will provide plan-level fiduciary services, while Vestwell manages recordkeeping and plan administration. Vestwell noted that “over time, the relationship will expand to include other Envestnet offerings.”
“As we strive towards closing the retirement-savings gap, our efforts are hyper-focused on how we can help financial advisors more efficiently serve their clients,” Vestwell CEO Aaron Schumm, said in a statement. “We are thrilled to be partnering with Envestnet, which shares our mission to empower advisors to succeed through innovative technology. We look forward to continuing to broaden our partnership with Envestnet to offer advisors an expanded suite of retirement services.”
