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Press Release

Vestwell Leverages Bambu's Wealth Management API to Build an Advisor Managed Account Offering Natively Into Its Platform

Issued by Vestwell

June 2, 2021

Vestwell Partners with Wealthtech API Provider Bambu to Expand Investment Advice in Retirement Journey

NEW YORK, NY - Vestwell, a digital recordkeeping platform, and Bambu, a global robo-advisory technology provider, are teaming up to provide customers with an even more robust retirement plan experience. By leveraging Bambu's wealth management API, Vestwell and its partners will be able to offer personalized investment strategies to help their clients better prepare for retirement based on actionable retirement goals.

The new relationship played a role in Vestwell's recently released advisor managed account offering with Franklin Templeton. Together, they are rolling out an innovative, goals-based offering using Franklin Templeton's Goals Optimization Engine.

"As workplace investor expectations evolve, it's vital to deliver participants the types of personalized solutions they've become accustomed to in all other aspects of their lives," said Ben Thomason, EVP of Revenue at Vestwell. "Working with Bambu and Franklin Templeton has made it possible to create a seamlessly data-integrated, low-friction, bespoke managed account experience at a reasonable price."

Bambu has developed a Wealthtech API proven to provide the information investors need to maximize success for achieving their retirement savings goals. The retirement API has features to cater to US retirees' needs, which considers Social Security Benefits (SSB), tax, and retirement goals. The investing platform starts with the user's current status in terms of savings amount and lifestyle needs. Then, the proprietary engine presents investors with an overview of various options, including investment strategies that may be appropriate based on their answers to a targeted risk tolerance questionnaire.

"With the rapidly changing landscape of retirement planning in America, it is important for financial institutions to provide a seamless experience that helps individuals save and plan their future," said Ned Phillips, Bambu Founder & CEO. "Being able to offer API as an option along with the enterprise and white label solutions has been beneficial. It allows clients, who already have technical resources at their disposal, to build a wealth management platform more quickly by using our APIs for endpoints like retirement goal calculators and portfolio projections."

Bambu has a library of over 70 Wealthtech APIs designed to make wealth management easy for companies looking to create their robo-advisory platform. These can be categorized by financial planning, country and fund data, machine learning, transactions allocations, and performance monitoring. Bambu provides readily available goal-based wealth management API; no set-up required.
About Vestwell

Vestwell is the digital recordkeeping platform bringing the 401(k) and 403(b) industry into the modern Fintech era. We have rearchitected the workplace retirement offering from the ground up and built an engine to power the $30T industry. Our customizable, open architecture and white-labeled platform becomes a natural extension of financial services and payroll partners while removing traditional friction points plaguing legacy recordkeeping. The result is an easier, more efficient, and all-around better experience for everyone, delivered at a fraction of the cost. Learn more at Vestwell.com and on Twitter @Vestwell.
About Bambu

Bambu is a leading global digital wealth technology provider for financial institutions. We enable companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by our proprietary algorithms and machine learning tools. The company serves approximately 300,000 end users on the platform in 10 countries. PEAK6 Investments and Franklin Templeton fund Bambu. Founded in 2016, Bambu is headquartered in Singapore with a subsidiary in the United Kingdom and the United States and EMEA representatives. For more information, visit https://bambu.co/ and follow us on LinkedIn and Twitter.

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