Skip to content

Wealth Names Vestwell Winner in the 401(k) Technology Category at 2022 Industry Awards

Wealth Names Vestwell Winner in the 401(k) Technology Category at 2022 Industry Awards

NEW YORK, NY, September 9, 2022 - Vestwell, the small business retirement plan provider and individual savings platform, announced today that it has won the Wealth 2022 Industry Award in the category of 401(k) Technology for its Advisor Managed Accounts feature.

The Advisor Managed Accounts feature by Vestwell, in partnership with Franklin Templeton, was developed to support advisors as they engage small businesses and their employees. Historically, personalized investment options in retirement plans have been reserved for those with six figures of retirement income. Knowing this, Vestwell and Franklin Templeton partnered to provide advisors with an innovative tool that allows for a personalized retirement planning experience for their clients.

"We're honored to be recognized by for our 401(k) technology," said Vestwell founder and CEO Aaron Schumm. “Since Vestwell’s inception, we’ve focused on helping advisors close the retirement gap in this country. We’re proud to offer our Advisor Managed Accounts feature in partnership with Franklin Templeton as a key way to make retirement plans more equitable and accessible. Thank you Wealth Management for this honor and congratulations to all Wealthies winners.”

The Advisor Managed Accounts feature engages Franklin Templeton’s award-winning Goals Optimization Engine (“GOE”) to build personalized retirement portfolios for employees based on their financial goals. The experience was built directly in Vestwell’s platform, which means advisors can capture participant data and provide a personalized investment strategy for every stage of their life, at a fraction of the cost. As the solution is native, QDIA-compliant, and cost-effective, 90% of these plans are electing to use the managed account feature as the default option for a portion of the plan participants.

Now in its eighth year, the Wealth Industry Awards is the only awards program to honor outstanding achievements by companies, individuals, and organizations that support financial advisor success.

"The Wealth Industry Awards allow us to recognize the creativity, success, and excellence of firms like Vestwell that serve the final advisor community," said David Armstrong, Editor-in-Chief of Wealth “A record number of companies submitted nominations for the Wealthies in 2022, so this year's winners should be particularly proud of their outstanding achievement."

This award comes on the heels of Vestwell’s recent recognition by Inc. Magazine as one of the fastest-growing companies in America. The firm was recognized as one of America’s Best Startup Employers by Forbes for two years in a row, as well as a “Best Place to Work” by Crain’s NYC and a three-time winner of Built In’s Best Place to Work and Best Benefits in NYC.

About Wealth

Wealth, an Informa business, provides everything wealth professionals need to know to stay knowledgeable about the industry, build stronger relationships, improve their practice, and grow their business. Wealth offers financial services organizations a broad array of marketing services designed to help them influence the industry's leading audience of wealth management professionals.

About Informa

Informa PLC is a leading, international business-to-business information services Group, operating in over 30 countries. Informa creates transaction-led exhibitions and content-based events, specialist data, intelligence and marketing services products, as well as scholarly research and specialist reference-led academic content. Informa products and services help businesses and professionals connect, learn, do business and gain an edge over the competition. Informa is listed on the London Stock Exchange and is a member of the FTSE 100.