Newcomer Vestwell has scored a a $4.5M seed round from FinTech Collective, along with F-Prime Capital, Primary Venture Partners and Commerce Ventures. Vestwell's Founder Aaron Schumm is also an advisor/investor in several other endeavors, and was also a co-founder of fintech FolioDynamix.
According to their website...."Vestwell is a new platform that helps investment advisors evolve their business to suit the changing landscape of retirement investing. We provide Registered Investment Advisors (RIA’s) with a white-labeled platform to align with the latest rules and regulations and scale their business to provide 401(k) planning to companies and their employees.
Indeed the individual retirement sector is one that many firms are very eager to tackle and get a piece of, and the platform defines itself as the "First Full-Fiduciary, White-Labeled Retirement Platform" for the RIA community and beyond.
They are seeking partnerships with RIAs who would like to utilize the white label program and want to comply with the DOL's New Fiduciary Rule that "makes it harder to sell high-cost or commissioned mutual funds and exchange-traded funds (ETF’s)."
Total Equity Funding
$4.5M in 1 Round from 4 Investors
Most Recent Funding
$4.5M Seed on September 20,
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