$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
To make managing retirement investments cheaper, simpler and safer.
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To make managing retirement investments cheaper, simpler and safer.
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.
Steph
Company Specialist
Dec 2023
$125m
SERIES D
Jul 2021
$70m
SERIES C
This company has top investors
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.
Joined as SVP Finance & HR in August 2017. Was made CFO in January 2020.
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