Internal Sales Associate, Vestwell
$60-70k
+ Variable compensation; Salary dependent on location
More information about location
Digital recordkeeping platform for 401(k) plans
Job no longer available
Digital recordkeeping platform for 401(k) plans
201-500 employees
Job no longer available
$60-70k
+ Variable compensation; Salary dependent on location
More information about location
201-500 employees
Company mission
To make managing retirement investments cheaper, simpler and safer.
Role
Who you are
- Experience in a business development role
- Experience in a business development environment with phone, email, chat & social queues
- Demonstrated ability to influence, manage, and present ideas via clear written and oral communication
- Self-starter who can operate well in a collaborative team environment
- Good knowledge of Salesforce, comfort level with other Sales technology
- Proven ability to prioritize multiple projects and tasks, adapt to changing needs, and tackle new challenges daily!
- Last, but certainly not least, you’re driven by a fresh perspective and entrepreneurial spirit
- As an ideal candidate, you have experience in a business development role in a high-growth environment. More importantly, you’re thrilled by the challenge of building and perfecting the operational tempo of a high-performing partnership for your regional team, your larger sales team, and the Vestwell organization as a whole
- You’re exceptional at managing multiple competing priorities and adapting to a flexible and fast-paced environment. We’re a growth stage startup after all
- A comfort level with smart business development activity including frequent phone calls and emails, value proposition formatting and positioning, working with channel partners, perfecting constituent databases, qualifying prospects, and closing sales is a must
Desirable
- Startup and/or financial services experience
- Understanding of the defined contribution space a plus!
- Series 7 and 66 or a Series 65 from a registered investment advisor
What the job involves
- We are looking for an experienced Internal Sales Associate to help us set the standards for identifying and converting new business at Vestwell
- You will play a fundamental role in achieving our ambitious revenue growth objectives while partnering with a senior Regional Retirement Director
- This role will report directly to the EVP, Revenue and will partner cross-functionally across Vestwell teams
Otta's take
Xav Kearney
CTO of Otta
The current landscape of 401(k) retirement plans is stagnant in comparison to the standards of financial software innovation. Vestwell offers a digital record-keeping platform that works directly with wealth management firms to help workplaces save money on their employee retirement plans. Vestwell does this by removing the friction points financial advisors and companies have in establishing and maintaining defined contribution and benefit programs.
The startup faces competition from legacy players such as Boston-based Fidelity Investments who currently keep track of almost $2 trillion in assets in the industry. Furthermore, Empower also focuses on advisor-friendly and customized web tools and functionality, presenting further competition to Vestwell.
Despite this, Vestwell is uniquely positioned to disrupt the stagnant 401(k) system, a stance only strengthened by its substantial rounds of funding through the 2020s. This has been invested into expanding platform functionality and servicing for its partners and clients, releasing two new products in September 2022 - Vestwell Flex and a TPA portal. These additions will make Third Party Administration partnerships more efficient for Vestwell customers, streamlining the recordkeeping systems necessary for such actions. Continued product updates like these will help Vestwell keep pace with its substantial competition.
Insights
Company
Funding (last 2 of 5 rounds)
Dec 2023
$125m
SERIES D
Jul 2021
$70m
SERIES C
Total funding: $237.5m
Company benefits
- We’re a growth stage startup with lots of exciting milestones ahead
- We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and an open vacation policy
- We have adopted a remote-hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in midtown Manhattan so everyone has a setting that is the most productive for them
- We provide our team with all the equipment they need (plus a few perks!) to work effectively remotely. Oh, and naturally we have a great 401(k) plan!
Company values
- Act like an owner - As a mission-driven company, we value our team members and prioritize employee ownership. We believe in creating an environment where each Vestweller feels empowered to support closing the retirement savings gap across the country
- Look for the better way - At Vestwell, you’ll be continuously challenged to find better solutions to address industry norms. We are on the road to revolutionizing workplace savings programs and look to our team of innovators to lead the way
- Embrace the difficult - Vestwell is on a mission to do great things, and the only way to get there is by taking on some incredibly complex challenges. We believe in embracing the difficult to ensure the largest positive impact for our industry, clients, and partner
- Help me, help you, help us - We build relationships based on trust, equality, respect, and support. Our unique blend of diverse perspectives allows us to grow authentically while sharing a common connection to our goals, mission, and vision
Company HQ
Garment District, New York, NY
Founders
Aaron Schumm
(CEO)Studied Finance at GIES College of Business and then received an MBA from Duke. Head Equity Research at financial advisory firm Dillon Scott Securities, Product Manager at Fiserv, VP of Product Marketing at Citi.
People progressing
Joined as SVP Finance & HR in August 2017. Was made CFO in January 2020.
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