# Vestwell Advisors

Vestwell Advisors is a Bank / Wealth / Trust based in New York, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** vestwell.com
- **LinkedIn:** https://www.linkedin.com/company/vestwell

## Regulatory record

- **CRD number:** 284173
- **SEC file number:** 801-107981
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/284173

## About

Vestwell Advisors is an SEC-registered investment adviser in New York, NY, registered since 2016. The firm manages approximately $1.0 billion in regulatory assets. It has 30 employees and 30 investment advisers.

## Sectors

- FinTech
- Retirement & Benefits

## People

- Aaron Schumm — CEO

## Questions

### Which state auto-IRA programs use Vestwell?

Vestwell administers multiple state-facilitated retirement programs, including CalSavers, OregonSaves, MarylandSaves, and Colorado SecureSavings. CalSavers was the first mass-market state mandate of its kind and remains the firm's most visible government contract. Vestwell's state programs serve gig workers, part-time employees, and others without employer-sponsored plans.

### How is Vestwell different from a traditional recordkeeper like Empower or Fidelity?

Vestwell operates as a white-label infrastructure provider rather than a consumer-facing brand. Where Empower or Fidelity pair proprietary technology with large internal distribution teams, Vestwell embeds its recordkeeping engine inside partner platforms — Morgan Stanley advisors, payroll companies, and state governments — who own the end-client relationship. Vestwell also runs a single multi-tenant codebase rather than managing separate systems for each plan type.

### What types of savings accounts does Vestwell administer?

The platform covers workplace and government-sponsored savings programs including 401(k) and 403(b) plans, state auto-IRAs, ABLE accounts for individuals with disabilities, 529 college savings, emergency savings accounts, and student loan benefit programs. Vestwell also integrates health savings accounts through third-party partnerships to offer a unified workplace savings dashboard.

### Does Vestwell take balance-sheet risk or hold client assets directly?

Vestwell does not take proprietary balance-sheet risk. Client assets are custodied at third-party banks, including BNY Mellon, which Vestwell selected as its primary custodian. Vestwell acts as the recordkeeper and technology platform, with regulatory custody handled by institutions, insulating the firm from credit exposure to plan participants.

## Related profiles

- [Vestwell](https://altss.com/profile/vestwell)
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Last updated: 2026-06-03T20:00:00.000Z

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