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Seamless Savings: Paris International’s Transformative Partnership With Vestwell

Seamless Savings: Paris International’s Transformative Partnership With Vestwell

When working with clients, Michael Paris, President of advisory firm Paris International Corporation, likes to employ what he calls the “mother test.”

The premise is simple. The advice that Michael gives his clients is what he would tell his own mother if she asked him the same question. He explained, “I want to give my mother the best possible advice. And as a fiduciary, my clients deserve the best possible advice as well. Our goal at Paris International is to be high-quality solutionists for the people we serve.”

Paris International’s commitment to “caring differently” earned them a spot on the National Association of Plan Advisors (NAPA)’s Top DC Advisor Teams list. To further enhance their service offering, the firm partnered with Vestwell, a modern savings platform building a suite of solutions across retirement, health, and education. Through this partnership, they have launched 11 retirement plans.

By leveraging Vestwell’s modern technology and robust service offering, Paris International can focus on what truly matters: providing top-tier advice and solutions that meet the "mother test" standard of care.

The Challenge: Finding a Partner to Modernize Operations and Remove Friction

Prior to Vestwell, Paris International encountered difficulties with their clients’ retirement plans due to outdated systems and processes. Michael noted that many legacy providers made it difficult to integrate new technologies and streamline operations, resulting in inefficient plan administration.

Michael highlighted an example involving a client named Dmitry, a software programmer with a dynamic, high-tech team. Dmitry’s company offered a retirement plan, but their service provider required manual downloading and uploading of contribution data, a process that was error-prone and inefficient.

“Dmitry said to me, ‘Michael, there's got to be a better way. Is this what a 401(k) plan is?’” The interaction with Dmitry became an inflection point in Michael’s career. “I thought to myself, is friction a way of life?” he said. “Or is there a better way?”

Paris International needed to partner with a provider that could meet the operational needs of the businesses they serve and remove the friction that was making plan administration harder for the firm and their clients.

The Solution: A Tech Partner That Enables Efficient Plan Management at Scale

Paris International partnered with Vestwell to offer their clients a modern saving solution with the technology and service capabilities to keep plans running smoothly. The firm currently has 11 active plans with Vestwell, and the partnership ensures they no longer need to troubleshoot platform errors or walk clients through complex processes, giving them time back to build client relationships and grow their business.

Modern Technology for Streamlined Operations

By transitioning to Vestwell, we moved from having friction to seamless operations. Everything just worked.
Michael Paris, President, Paris International

Michael explained that Vestwell’s user-friendly portals for advisors, employers, and savers make plan management more efficient for everyone involved. He said, “Everything I’m looking for, or that a sponsor or participant is looking for, is less than three clicks away from the second I log in.”

Additionally, Vestwell’s payroll integrations streamline plan administration for clients like Dmitry. Michael says he appreciates Vestwell’s commitment to developing reliable technology and quality payroll integrations, setting a high standard within the industry.

A Robust Service Offering

“Vestwell offers a great service model and a dedicated point of contact when we need it,” Michael said. “And the help center that Vestwell has built has been absolutely incredible.”

By leveraging Vestwell’s robust service offering and comprehensive educational resources like detailed FAQs, instructional videos, and step-by-step guides, Paris International is able to quickly and easily address the diverse needs of their clients.

The Impact: Seamless Operations and a Rocketship Growth Experience

Our Vestwell partnership enhances our business because they offer a seamless experience,” Michael said.When we have that, it frees up our team members to serve our clients. When we're not putting out fires, we can be more proactive. We can answer the questions that matter.

“When we don't have that friction, we can interface with plan participants and plan sponsors, give fiduciary reviews, and make sure investments are sound,” Michael explained. This, in turn, allows the firm to scale. “We have had a rocketship experience by way of the growth of Paris International,” he said. “We're very, very happy with the partnership and we’re looking to enhance it in the future.”

Our partnership with Vestwell has enhanced our business offering to our clients. It gives us the ability to do more with the same resources.
Michael Paris, President, Paris International

Conclusion

With Vestwell, Paris International is able to overcome the challenges of outdated legacy providers and offer a clear path to better financial health for their clients.

Vestwell is a modern savings platform building a suite of solutions across retirement, health, and education. Contact us to learn how we can help you make a lasting impact on your clients’ financial futures—and get a competitive edge in the marketplace.

Click here to book a demo with Vestwell.

Click here to learn more about Paris International.