J.P. Morgan announced this week that it selected the New York City-based fintech company as a new record-keeping option and to help power Everyday 401(k), Chase’s workplace savings program for small businesses. Vestwell will act as the private-labeled record-keeping solution for Everyday 401(k), allowing J.P. Morgan to provide fiduciary 3(16) administrative service, plan access to an assigned client success manager, a structured third-party administrator offering and enhanced payroll integrations.
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J.P. Morgan partners with Vestwell to expand 401(k) business
“In light of recent regulatory tailwinds and our modern technology solutions, we’ve experienced unprecedented demand from financial advisors for the ability to offer retirement plans to their clients,” Aaron Schumm, founder and CEO of Vestwell, said in a statement. “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.”
