Retirement planning and wealth management are becoming synonymous with financial wellness. It encompasses not just monetary security but also the tools and knowledge to navigate the intricate pathways of personal finance. As financial wellness takes center stage in retirement planning, interwoven with coordination and strategic technology integration, advisors and individuals can maximize their financial outcomes and achieve long-term peace of mind.

In this episode, Jack talks with Aaron Schumm, Founder and CEO at Vestwell. Aaron founded Vestwell in 2016 to close the American savings gap by modernizing how individuals and small businesses save. Before Vestwell, Aaron co-founded FolioDynamix, which is now part of Envestnet. Aaron brings over 20 years of fintech and finserv experience from industry-leading companies, including Northern Trust, Citigroup, and Fiserv.

Dedicated to serving millions of undersaved Americans, Aaron talks to Jack about the vital role the workplace retirement business is playing in bringing on new investors, helping them with the tools and capabilities they need to make their retirement savings journeys as productive as possible, as well as showing them how to maximize their financial results and peace of mind.

Key Takeaways

[01:27] - How Vestwell addresses financial wellness in the workplace.
[06:19] - How Vestwell provides personalized recommendations for individuals.
[08:20] - What the future holds for integration and coordination in wealth management.
[12:46] - Vestwell's expansion of pooled and multiple employer solutions.
[13:47] - How Vestwell addresses the retirement needs of workers with multiple jobs and rollovers.
[16:11] - Exciting developments and plans for Vestwell.
[17:53] - Aaron's three key takeaways.
[19:52] - Aaron's interests and activities outside of work.

Quotes

[06:05] - "Our role is to help facilitate and guide that next best dollar and provide the experience to the end user that allows them to know what they're doing and how they can best optimize to save for their future." ~ Aaron Schumm

[18:11] - "Expanding into the workplace offering is a core anchor for anyone who wants to engage in a future wealth program." ~ Aaron Schumm

[18:24] - "The demand we're seeing on the financial wellness side, where people are just saying, ‘Hey, help me work through this or help me think through this and create an actionable result’, is really important. And the key is that last piece, making it actionable." ~ Aaron Schumm

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