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Vestwell Adds Morningstar Investment Management’s 3(21) Fiduciary Services

Vestwell in partnership with Morningstar

Vestwell Adds Morningstar Investment Management’s 3(21) Fiduciary Services

Addition of Morningstar Investment Management’s curated fund menu enhances investment flexibility for financial advisors and plan sponsors

NEW YORK, NY, January 17, 2018 – Vestwell, a digital retirement platform, announced today that it will be offering a select list of investment options under Morningstar Investment Management LLC’s 3(21) fiduciary services program to Vestwell clients.

Vestwell provides a platform that automates and digitizes the client recordkeeping and administrative experience so that advisors and plan sponsors can focus on developing a retirement plan that best suits their employees. The integration of Morningstar Investment Management services seeks to benefit financial advisors and plan sponsors by enabling them to address their fiduciary responsibilities while creating their own investment product lineup from menus of funds that Morningstar* has performed due diligence screening on.

“Equipping advisors and clients with a digital retirement experience that helps alleviate administrative and fiduciary burdens has been, and always will be, a top priority for Vestwell as we continue to expand our offering,” said Aaron Schumm, founder and CEO, Vestwell. “We’re delighted to integrate Morningstar Investment Management’s 3(21) fiduciary services program, which complements our offering and provides advisors with a diverse, highly customizable set of retirement solutions for their clients.”

Advisors will have access to a list of investments curated by Morningstar* that cover various asset classes and fund types, all of which follow strict guidelines centered on management, style and performance consistency, with an eye on expenses. The maintained list is embedded into the Vestwell platform, allowing advisors and plan sponsors to serve participants across various workforce demographics.

“Vestwell’s offering provides advisors with a modern, streamlined approach to retirement services,” said Brock Johnson, Head of Workplace Retirement Solutions, Morningstar. “We’re pleased to support Vestwell’s commitment to providing advisors with the retirement technology tools and services they need to assist plan sponsors.”

About Vestwell Holdings, Inc.

Vestwell Advisors, LLC is a SEC registered investment advisor, a wholly owned subsidiary of Vestwell Holdings, Inc., specializing in 401(k), 403(b) and other defined contribution and benefit retirement investment management services. Built by an experienced team led by CEO Aaron Schumm, Vestwell can assume 3(38) or 3(21) investment management and ERISA3(16) fiduciary responsibility on the behalf of advisors and their plan sponsor clients. Learn more at Vestwell.com and on Twitter @Vestwell.

This is not an offer, solicitation, or advice to buy or sell securities in jurisdictions where Vestwell Advisors is not registered. An investor should consider investment objectives, risks and expenses before investing. More information is available within Vestwell Advisors’ ADV. There are risks involved with investing. Investors should consider all of their assets, income and investments. Portfolios are subject to change. All opinions and results included in this publication constitute Vestwell Advisors’ judgment as of the date of this publication and are subject to change without notice.

About Morningstar

Morningstar, Inc.’s mission is to help investors reach their financial goals. We were founded on the simple idea that when people have good investment information, they make better choices that lead to better outcomes. Our advocacy for the individual investor extends to the workplace market, where the responsibility for investing and saving for retirement now rests with employees and where we’re committed to helping those employees achieve financial freedom. The products and services of Morningstar and its affiliates range from advice and managed accounts to custom models, target-date solutions and fiduciary services. Our Workplace business includes Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc.

Vestwell Advisors makes available advisory services offering investment solutions and fiduciary support from Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., for plan sponsors. Morningstar Investment Management acts as a fiduciary under ERISA 3(21)(A)(ii) with respect to these services. Morningstar Investment Management is not acting in the capacity of advisor to individual investors. The Morningstar name and logo are registered marks of Morningstar, Inc. and Morningstar Investment Management and its affiliates are not affiliated with Vestwell Advisors.

* Investment research is produced and issued by Morningstar, Inc. or subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. Morningstar Investment Management has entered into a sub-advisory agreement with Morningstar Research Services LLC , an affiliate of Morningstar Investment Management, pursuant to which Morningstar Research Services will agree to, among other things, perform some services and/or other obligations on behalf of Morningstar Investment Management.