A new partnership among three firms is aimed at bringing the retirement planning industry “into alignment” with new fiduciary requirements.
Vertical Management Systems Inc. (VMS), Envestnet | Retirement Solutions (ERS) (a majority-owned subsidiary of Envestnet, Inc.) and United Retirement Plan Consultants (URPC) have announced a strategic partnership focused on combining fiduciary, recordkeeping and compliance services on a single platform and, in addition, providing financial advisors, retirement plan sponsors and participants with a way to navigate new Department of Labor (DOL) conflict-of-interest regulations.
The services are integrated on VMS’s Retirement Revolution platform, combining the three firms’ expertise in plan design, setup, recordkeeping and administration with fiduciary protection that specifically addresses the new DOL rules. The companies said that the collaboration results in a retirement-plan solution that provides choice, flexibility, transparency and cost-effective pricing.
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