Former CEO of TPA Avintus and executive of FuturePlan by Ascensus brings 20+ years of retirement experience
NEW YORK, NY, December 15, 2020 - Vestwell, the digital recordkeeping platform bringing the 401(k) and 403(b) industry into the modern fintech era, today announced Richard Tatum as its President of Retirement Services. Tatum will report to the firm’s CEO, Aaron Schumm, and will be responsible for further scaling the platform operations, administration and client services as Vestwell continues to advance through exponential growth.
Tatum started his career in the 401(k) industry more than 20 years ago, and brings with him extensive expertise in plan design, administration, and payroll integration. Prior to joining Vestwell, Tatum was the president and CEO of Avintus, a third-party administrator (TPA) firm he joined in 1998. Under his leadership at Avintus, the TPA service division grew into a regional powerhouse while also expanding its service suite to include payroll, human resource, and 3(16) fiduciary outsourcing solutions. In 2018, the firm was acquired by Ascensus under their TPA Solutions division. Following the acquisition, Tatum became a Divisional Vice President, where he was responsible for sales in FuturePlan by Ascensus’ Southern Division.
“I’ve been following Vestwell since the firm’s inception and have always been inspired by their mission to make retirement more accessible,” says Tatum. “It’s an honor to join this incredibly talented team and I’m excited to roll up my sleeves at Vestwell and continue innovating the retirement industry for the better.”
Vestwell is quickly establishing itself as the new standard in workplace investment and savings programs, leading through technology to create scale in a space plagued by inefficiencies. During this phase of hyper-expansion, it’s imperative that the servicing and operations engines not only support the firm’s growth trajectory, but also provide users with the experience they’ve come to expect and deserve. As President of Retirement Services, Tatum will immerse himself in the firm’s ecosystem of partners — which includes global financial services companies across financial advisors, asset managers, and insurance providers, as well as payroll providers, company plan sponsors, and participating employees — to influence the design and deployment of a world-class servicing department.
“We are only as good as our people, which makes us all the more excited to welcome Richard as a member of Vestwell’s executive leadership team,” said Vestwell CEO Aaron Schumm. “Richard’s unique background as both an entrepreneur and industry executive makes him the perfect person for this role. He’s been close to this business since it was only an idea in my head. His knowledge and experience in 3(16) administration, payroll integration, and business innovation will be a tremendous asset to Vestwell and the companies we serve.”
Tatum holds a Bachelor of Science in Finance and Business Management from Lipscomb University.
Vestwell is the digital recordkeeping platform bringing the 401(k) and 403(b) industry into the modern Fintech era. We have rearchitected the workplace retirement offering from the ground up and built an engine to power the $30T industry. Our customizable, open architecture, and white-labeled platform becomes a natural extension of financial services and payroll partners, while removing traditional friction points plaguing legacy recordkeeping. The result is an easier, more efficient, and all-around better experience for everyone, delivered at a fraction of the cost. Learn more at vestwell.com and on Twitter @Vestwell.
Senior Vice President, Marketing