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Retirement Planning > Retirement Investing

Vertical Management Systems Partners With Envestnet | Retirement Solutions

By Marlene Y. Satter

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Vertical Management Systems Inc. has announced that it is partnering with Envestnet | Retirement Solutions to offer end-to-end retirement recordkeeping services to advisors through ERS’ integrated retirement model.

VMS provides data, financial networking and account aggregation technology to recordkeepers, among others. VMS’s technology processes assets in excess of $600 billion for firms like Wells Fargo Bank, SEI Investments, Ascensus, The Standard and others

It provides a custodial product to retirement plans that includes such features as straight-through automated trading between the recordkeeping system, custody system and fund companies; trailer fee billing, collection, reporting and remuneration; and participant distributions.

Envestnet’s ERS retirement model is an integrated offering that includes technology and fiduciary services capabilities such as advisor practice and model management, managed plan portfolios, 3(21) advice and 3(38) management and managed accounts at the participant level.

To that will be added VMS’s retirement recordkeeping platform, called Retirement Revolution.

“We are very excited about our new partnership with VMS,” Babu Sivadasan, group president of ERS, said in a statement. He added, “Retirement Revolution’s streamlined database-driven recordkeeping technology serves as the framework for flexible integration of all of our services. The platform’s comprehensive approach for fee accounting will help advisors with the Department of Labor’s regulatory and reporting initiative.”

On its website, VMS said, “In our opinion, at the end of the day, it’s plan administrators and recordkeepers that provide a bulk of the value to the plan sponsor, so we’ve designed a custodial solution that doesn’t get in your way, so you can do just that.”

— Check out Plan Sponsors Looking for New Advisors Despite Record Satisfaction: Fidelity on ThinkAdvisor.

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