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NEW YORK and CHICAGO, Dec. 9, 2020 /PRNewswire/ --Vestwell, the digital recordkeeping platform bringing the 401(k) and 403(b) industry into the modern Fintech era, today announced a partnership with Envestnet, Inc. (NYSE: ENV). (PRNewsfoto/Vestwell,Envestnet Retirement Solutions) Through this collaboration, Vestwell advisors can now access Envestnet's 3(38) investment management services, through Envestnet Retirement Solutions, LLC, to provide clients with a true turnkey solution. Over time the relationship will expand to include other Envestnet offerings, helping bring advisors closer to their clients while helping them further differentiate through greater customization. As the 3(38) investment manager, Envestnet will provide plan-level fiduciary services for Vestwell, which will handle recordkeeping and administration through its API-driven platform. Together, the tech-first providers will make it easier for advisors to effectively scale while focusing their attention on participation and outcomes for 401(k) plan provider clients versus set-up and implementation. "At Envestnet, we are dedicated to partnering with industry leaders like Vestwell to further the evolution of the art of recordkeeping for retirement plans, and to help advisors improve outcomes for plan participants," said Khash Sarrafi, Senior Vice President, Envestnet Retirement Solutions. "Our fiduciary 3(38) capabilities, powered by Envestnet | PMC, combined with Vestwell's transformative recordkeeping platform, will provide more advisors with the support they deserve to effectively and efficiently sell into, and service, small and medium-sized businesses. This is the latest step forward in our ongoing commitment to expand the essential advice which helps clients achieve financial wellnessand lays the groundwork for scalable practice growth."Both Vestwell and Envestnet are transforming the way financial advisors are running their businesses through the effective use of technology. The partnership unites the companies in their efforts to streamline retirement plan services, data aggregation, plan benchmarking, and investment selection and oversight."As we strive towards closing the retirement-savings gap, our efforts are hyper-focused on how we can help financial advisors more efficiently serve their clients," said Vestwell CEO Aaron Schumm. "We are thrilled to be partnering with Envestnet, which shares our mission to empower advisors to succeed through innovative technology. We look forward to continuing to broaden our partnership with Envestnet to offer advisors an expanded suite of retirement services."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 EnvestnetEnvestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 105,000 advisors across more than 5,100 companiesincluding 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of Fintech companiesleverage the Envestnet platform to grow their businesses and client relationships.For more information on Envestnet, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn. Vestwell and Envestnet are separate and unaffiliated firms, and are not responsible for each other's services or policies. This release should not be construed as a recommendation or endorsement of any particular product, service, or firm.Media ContactsDana TaorminaJConnelly for Envestnet973.647.4626[emailprotected]Abbey YvonVestwell917.979.5358[emailprotected]SOURCE Envestnet Retirement Solutions; Vestwell

Answer: Vestwell Partners with Envestnet to Offer Turnkey Retirement Plan Solutions to Industry Advisors New offering leverages technology to help advisors deliver efficient 401(k) plan investment-management solutions across diverse client needs