Vestwell announced that its small plan 401(k) and 403(b) solutions will now be available to thousands of advisor clients of RBC Clearing & Custody (RBC C&C).
According to the firm’s announcement, the RBC C&C platform “will enable advisors to efficiently scale their retirement plan practice, customize their offerings, and give clients the experience they expect and deserve.”
The underlying architecture of the 401(k) offering is powered by Vestwell’s cloud-based digital recordkeeping platform. Vestwell’s technology will help minimize administrative workload and provide the tools needed to maximize participant engagement, while RBC C&C advisor clients will benefit from the ability to own their own brand, investment philosophy and a streamlined approach for clients, the announcement further notes.
“After the passing of SECURE 2.0, we’ve seen 401(k) solutions increasingly become a priority for small business owners across the United States,” says Brett Thorne, President of RBC Clearing & Custody. “This demand, with the right platform in place, creates a natural pathway for our advisor clients to rapidly expand their wealth practices.”
“We are excited to be the exclusive 401(k) provider of RBC Clearing & Custody and bring their thousands of advisors clients the ability to deliver a white-labeled offering that's right for them including modern interactions, real-time communications, and transparent costs,” adds Vestwell’s Founder and CEO Aaron Schumm. “Vestwell is committed to empowering advisors to run successful practices and ultimately help close the retirement savings gap in this country.”
