VMS, Envestnet and United Retirement Announce Innovative Partnership to Align Retirement-Planning Industry with New Fiduciary Requirements

Comprehensive Solution Streamlines Fiduciary Services, Recordkeeping and Compliance on VMS's Retirement Revolution® Platform

Apr 18, 2016, 16:18 ET from Vertical Management Systems Inc. (VMS)

PASADENA,  Calif., April 18, 2016 /PRNewswire/ -- Vertical Management Systems Inc. (VMS), Envestnet | Retirement Solutions (ERS), a majority-owned subsidiary of Envestnet, Inc. (NYSE: ENV), and United Retirement Plan Consultants (URPC), announced today an innovative strategic partnership designed to help financial advisors, retirement plan sponsors and participants navigate new Department of Labor (DOL) conflict-of-interest regulations, and streamline their fiduciary, recordkeeping and compliance services on one scalable platform.

The seamless integration of these services on VMS's Retirement Revolution® platform provides a retirement-plan solution with choice, flexibility, complete transparency and cost-effective pricing. Further, it leverages the combined expertise of leading firms in the financial-services marketplace to offer optimal outcomes across the spectrum of retirement-plan needs – from plan design and set-up to full recordkeeping and administration, wrapped with fiduciary protection that specifically addresses the new DOL rules.

VMS's Retirement Revolution® platform combines the best attributes of today's trust, brokerage and recordkeeping systems to deliver an entirely new, affordable experience. Through the strategic partnership with ERS and URPC, the platform offers investment advisors and their clients what the three sponsoring partners believe is the most compliant, easiest-to-use solutions in the retirement-services industry.

"We are very excited about VMS's partnership with retirement-industry leaders like ERS and United Retirement," said Kevin Rafferty, Chief Executive Officer of VMS. "The combination of Retirement Revolution's cutting-edge retirement platform with top-notch fiduciary and third-party administrator (TPA) services establishes a new gold standard in the retirement industry. At a time when the heightened regulatory environment requires better solutions, we feel this comprehensive offering is just what advisors need to drive operational efficiencies and better serve their clients."

"The flexibility in our fiduciary 3(21) and 3(38) outsourcing solutions to accommodate advisor's customized fund menu for a plan has been well received by the advisor community," added Babu Sivadasan, Group President of Envestnet | Retirement Solutions.

The comprehensive Retirement Revolution® platform offers both "off the shelf" and customizable solutions, providing advisors and their clients with highly flexible retirement plan alternatives to meet their specific needs.

"United Retirement is proud to be part of such a robust retirement plan solution and partner with VMS and ERS, two of the nation's premier technology-based organizations in open architecture recordkeeping and advisor fiduciary services and practice management, respectively," said John Davis, Chief Executive Officer of United Retirement Plan Consultants. "Together, we believe our joint offering provides our advisors and clients with a holistic, yet customizable, retirement plan solution geared at helping them manage and mitigate their fiduciary risks, while greatly improving participant outcomes, all at an extremely competitive price point."

About Vertical Management Systems Vertical Management Systems (VMS) is a technology innovation firm bringing best-in-class solutions to financial firms which combines modern recordkeeping, financial process and control services with compliant, innovative, and flexible solutions. We provide easy-to-implement, integrated solutions that solve for today's key issues including fiduciary risk, fee transparency, and revenue reconciliation. VMS offers three solutions: Retirement Revolution, a next generation retirement platform built for today's demands with 100% fee transparency, true open architecture and participant-level recordkeeping; Mutual Fund Desk, a mutual fund process-and-control platform that gives as much automation and control over mutual fund processing as is possible with stocks & bonds; and Specialized Information Services, a comprehensive source of audited mutual fund data customized for your mutual fund universe to minimize processing errors and accelerate the posting of income. VMS has been working with top-tier financial services firms for over 20 years and process over $600 billion in assets. For more information about Vertical Management Systems, please visit www.vmsholdings.com.

About Envestnet Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective, and fully-aligned standard of care, and empower advisors to deliver better outcomes.

Envestnet | Retirement Solutions (ERS), a subsidiary of Envestnet, Inc. provides retirement advisors with an integrated platform that combines one of the industry's leading practice management technology, research and due diligence, data aggregation, compliance tools and intelligent managed account solutions. ERS leverages Envestnet's advanced capabilities and resources, along with its experience in investment research, portfolio construction and investment management, to meet the specialized needs of each retirement plan stakeholder, from plan participants to sponsors, advisors to home offices and record keepers to DCIOs.

Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. More than 950 companies, including 12 of the 20 largest U.S. banks and hundreds of Internet services companies, subscribe to the Envestnet | Yodlee platform to power personalized financial apps and services for millions of consumers. Envestnet | Yodlee solutions help transform the speed and delivery of financial innovation, improve digital customer experiences, and drive better outcomes for our clients and their customers.

For more information on Envestnet | Retirement Solutions, please visit http://envestnetrs.com/.

About United Retirement Plan Consultants United Retirement Plan Consultants (URPC) is a leader in retirement plan design, consulting and administration services for small to mid-size employers. From basic to sophisticated, it delivers the most cost-effective and tax-efficient retirement plan solutions. URPC serves 10,000 clients with $12 billion in plan assets from 20 sales and service locations in 17 states. URPC leverages its national footprint with local expertise to deliver best-in-class retirement plan solutions. Please visit www.unitedretirement.com.


Amiee Watts




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SOURCE Vertical Management Systems Inc. (VMS)