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View More Press Releases by Vestwell

Press Release

Vestwell and BNY Mellon Collaborate to Tackle State-Mandated IRA Programs Nationwide

Issued by Vestwell

Dec. 6, 2018

December 5, 2018 -- Vestwell, a digital retirement platform, today announced a strategic relationship with BNY Mellon, the largest custodian in the world and global leader in investment management and investment services. Together, the firms will now offer 401(k), 403(b), and employer-sponsored IRA plans to BNY Mellon clients, accessible via Vestwell's turnkey digital interface.

Through the collaboration, Vestwell will be tightly embedded in an open-architecture construct and offered to BNY Mellon clients nationwide. Jointly, the platform will allow companies to bring modern solutions to state sponsored retirement programs as well as advisor-led 401(k), 403(b) and IRA programs.

"We couldn't be more excited about working with one of the most respected financial institutions in the world to power state-led IRA savings programs as well as larger company sponsored retirement programs," said Aaron Schumm, founder and CEO of Vestwell. "With BNY Mellon's industry leadership and Vestwell's digital solution, we're working to ensure that all employees have practical investment vehicles in place."

BNY Mellon's wholly-owned entities- which include BNY Mellon Custody, Pershing brokerage services, Lockwood asset management, and Sumday - will be able to utilize Vestwell's flexible and intuitive platform. This integrated offering will provide advisors a more comprehensive viewpoint into their plan sponsor companies and their employees' retirement accounts.

"This collaboration with Vestwell cements our commitment to reshaping retirement account solutions for advisors, trust officers, companies, and employees alike" said Doug Magnolia, Managing Director, BNY Mellon Asset Servicing, "We're proud to deploy such a powerful, tech-driven offering that will impact businesses nationwide and, more importantly, help set their employees up for success."

For more information on the partnership please visit www.vestwell.com/news.

About Vestwell Holdings, Inc.
Vestwell is a digital platform that makes it easier to offer and administer 401(k) plans. Vestwell removes traditional friction points through a seamless plan design, automated onboarding, streamlined administration, and flexible investment strategies, all at competitive pricing. By acting as a single point of contact, Vestwell has modernized the retirement offering while keeping the plan sponsor's and plan participant's best interests in mind. Learn more at Vestwell.com and on Twitter @Vestwell.

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of September 30, 2018, BNY Mellon had $34.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

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